eToro Completes Funding Round of $15 Million Led by Spark Capital
Poster: SySAdmin
Posted on March 12, 2012 at 11:07:01 PM
eToro Completes Funding Round of $15 Million Led by Spark Capital
eToro Takes on Funding to Fuel Explosive Growth and Evolve its Social Investment Network
LONDON, March 13, 2012/PRNewswire/ --
?
eToro, the world's largest investment network, announced today that it has closed a
funding round of 15 million US dollars from Spark Capital and other investors to fuel
international growth and continue to evolve eToro's social trading platform. Over the past
12 months, eToro has experienced explosive growth more than doubling its active user base
and making it the world's largest online investment network with over 2 million registered
users in over 140 countries.
The capital injection will enable eToro to accelerate innovation and continue to
realize its vision of disrupting the financial markets. Over the past year, eToro managed
to recruit some of the industry's top talent, adding to its leadership role in defining
the standard for social trading. As a result eToro has doubled its workforce within 12
months, reaching over 200 employees in Europe, United States, Australia, and Israel, where
its R&D center is located.
eToro trading volumes doubled in size within the last 12 months, and the number of
traded positions in the network has increased by more than 500%. This explosive growth is
attributed to eToro's award winning CopyTrader(TM) that allows any user to automatically
copy the entire trading activity of the best performing traders in the network, thus
delivering better success rates and higher average returns per trade. CopyTrader(TM) has
exceeded the anticipated adoption rates and is now used by the majority of eToro's active
user base. Users engaging in copy trading achieve win ratios of over 80%, which is
dramatically higher than the industry standard, resulting in higher trading performance.
"The internet is breaking down long-standing business models across various
well-established industries. Just as our portfolio companies, Twitter, Tumblr and
foursquare have reinvented the way people interact online, eToro is now leading the charge
to disrupt yet another market, the financial services market," said Santo Politi, General
Partner at Spark Capital.
"We are very pleased to have Spark Capital on board to help us continue to expand and
lead the social trading revolution," said eToro CEO, Johnathan Assia. "As the largest
investment network, we constantly push the boundaries of design and technology to harness
the wisdom of the crowds for our users helping them trade and invest online more
intelligently, yielding outstanding results."
Learn more about eToro and tap into the world's largest investment network at:
http://www.etoro.com and http://openbook.etoro.com
About eToro
eToro is the world's largest investment network, with over 2 million users in over 140
countries and thousands of new accounts opened each day. eToro leads the social trading
revolution through its community powered network, which enables every investor to see,
follow and automatically copy the actions of other investors in real time. eToro's mission
is to open the financial markets to every individual and make them accessible through a
simple, transparent and more profitable way to trade and invest online. By harnessing the
wisdom of the crowds every member of eToro's social trading network benefits from
accelerated information exchange, knowledge sharing and the ability to quickly identify
the best investment opportunities. eToro's open Guru Program allows expert and talented
traders to earn wide reaching recognition and monetize their trading expertise by earning
rich monthly rewards. eToro's wide range of award-winning web-based and mobile social
trading platforms appeal to every level of trading expertise, and provide an amazing
investment experience that caters to the needs of the consumer investor. For more
information, visit us at http://www.etoro.com.
Contact:
Alon Levitan
pr@eToro.com
+1-888-993-8676
http://www.eToro.com
Source: eToro
eToro Takes on Funding to Fuel Explosive Growth and Evolve its Social Investment Network
LONDON, March 13, 2012/PRNewswire/ --
?
eToro, the world's largest investment network, announced today that it has closed a
funding round of 15 million US dollars from Spark Capital and other investors to fuel
international growth and continue to evolve eToro's social trading platform. Over the past
12 months, eToro has experienced explosive growth more than doubling its active user base
and making it the world's largest online investment network with over 2 million registered
users in over 140 countries.
The capital injection will enable eToro to accelerate innovation and continue to
realize its vision of disrupting the financial markets. Over the past year, eToro managed
to recruit some of the industry's top talent, adding to its leadership role in defining
the standard for social trading. As a result eToro has doubled its workforce within 12
months, reaching over 200 employees in Europe, United States, Australia, and Israel, where
its R&D center is located.
eToro trading volumes doubled in size within the last 12 months, and the number of
traded positions in the network has increased by more than 500%. This explosive growth is
attributed to eToro's award winning CopyTrader(TM) that allows any user to automatically
copy the entire trading activity of the best performing traders in the network, thus
delivering better success rates and higher average returns per trade. CopyTrader(TM) has
exceeded the anticipated adoption rates and is now used by the majority of eToro's active
user base. Users engaging in copy trading achieve win ratios of over 80%, which is
dramatically higher than the industry standard, resulting in higher trading performance.
"The internet is breaking down long-standing business models across various
well-established industries. Just as our portfolio companies, Twitter, Tumblr and
foursquare have reinvented the way people interact online, eToro is now leading the charge
to disrupt yet another market, the financial services market," said Santo Politi, General
Partner at Spark Capital.
"We are very pleased to have Spark Capital on board to help us continue to expand and
lead the social trading revolution," said eToro CEO, Johnathan Assia. "As the largest
investment network, we constantly push the boundaries of design and technology to harness
the wisdom of the crowds for our users helping them trade and invest online more
intelligently, yielding outstanding results."
Learn more about eToro and tap into the world's largest investment network at:
http://www.etoro.com and http://openbook.etoro.com
About eToro
eToro is the world's largest investment network, with over 2 million users in over 140
countries and thousands of new accounts opened each day. eToro leads the social trading
revolution through its community powered network, which enables every investor to see,
follow and automatically copy the actions of other investors in real time. eToro's mission
is to open the financial markets to every individual and make them accessible through a
simple, transparent and more profitable way to trade and invest online. By harnessing the
wisdom of the crowds every member of eToro's social trading network benefits from
accelerated information exchange, knowledge sharing and the ability to quickly identify
the best investment opportunities. eToro's open Guru Program allows expert and talented
traders to earn wide reaching recognition and monetize their trading expertise by earning
rich monthly rewards. eToro's wide range of award-winning web-based and mobile social
trading platforms appeal to every level of trading expertise, and provide an amazing
investment experience that caters to the needs of the consumer investor. For more
information, visit us at http://www.etoro.com.
Contact:
Alon Levitan
pr@eToro.com
+1-888-993-8676
http://www.eToro.com
Source: eToro