eToro Group, a global trading platform for retail investors, filed on Monday with the SEC for an initial public offering that we estimate could raise $750 million.
eToro believes it has built a collaborative investment community designed to provide users with the educational resources and tools they need to grow their knowledge and wealth. Its platform aims to combine a social network with the ability to trade and invest, all within a regulated, digital investment platform purpose-built for financial discourse and community. As of December 31, 2024, eToro had approximately 3.5 million Funded Accounts across its global footprint of 75 countries.
The Bnei Brak, Israel-based company was founded in 2006 and booked $12.6 billion in total revenue and income for the 12 months ended December 31, 2024, with a total commission of $931 million. It plans to list on the Nasdaq under the symbol ETOR. eToro Group filed confidentially on December 6, 2024. Goldman Sachs, Jefferies, UBS Investment Bank, Citi, Deutsche Bank, BofA Securities, Cantor Fitzgerald, and Citizens JMP are the joint bookrunners on the deal. No pricing terms were disclosed.
