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Trading platform eToro has confidentially filed for an IPO in the US that could value the company at more than $5 billion, writes the Financial Times reported on Thursday.
Israel-based eToro, which competes with the likes of Robinhood, told TechCrunch that it “does not comment on IPO rumors.”
The fintech initially announced plans to go public through a SPAC at estimated at 10.4 billion dollars 2021 before scrapping those plans in 2022. In March 2023. secured $250 million in financing at an estimate of $3.5 billion. Founded in 2007, eToro gives users a way to trade assets such as stocks, ETFs and cryptocurrencies. A source told the FT that the company could officially list in New York as early as the second quarter.
After a lull and perhaps boosted by ServiceTitan success in the public market so far, more and more fintechs are taking steps to go public themselves. Chime Digital Bank submitted his confidential documentation with the SEC in December.
