Israeli social trading firm eToro raises $100 mln in private funding

China Vered Financial Holding

22/03/2018 13:41

TEL AVIV, March 22 (Reuters) - Israeli social investment and
investment platform eToro said it raised $100 million in private
financing, bringing total funds raised to $162 million.
    The investment round was led by China Minsheng Financial
 0245.HK , with SBI Group, Korea Investment Partners and others
participating. The money was raised at a company valuation of
$800 million.
    The company said it will use the funds to expand into new
markets as well as continue its blockchain research and the
development of digital assets.
    It completed its capital raising with the support of the
London Stock Exchange Group’s private placement platform.
    The company said growth has been driven, in part, by demand
for investments in the cryptocurrency market.
    Founded in 2007, eToro has over 9 million users who can
manually invest in over 1,500 instruments while those who lack
time or experience can automatically copy the trades of other
traders on the platform. 

 (Reporting by Tova Cohen
Editing by Steven Scheer)
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))