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eToro Expects $5 Billion Valuation from IPO

The company offers a fintech platform.

Yoni Assia eToro – wikimedia

Israeli startup eToro, which offers its clients a platform for managing their investments, is planning an IPO that the company expects will give it a $5 billion valuation. Calcalist reports that eToro is currently talking over the details for the IPO, planned for 2021, with the investment bank Goldman Sachs.

But eToro has so far refused to comment on the report.

The news comes just three weeks after eToro jumped to a $2.5 billion valuation, after being valued at just $800 million two years ago. This resulted from a $50 million infusion from an unnamed American investor. If you do the math that means that the investor bought a 2% stake in the company and, depending on the terms of the investment, he could now be looking at doubling his money in just a few months.

This marks the fifth Startup Nation startup to reach a $1 billion plus valuation this year alone. Taboola, an Israeli web content recommendation startup, is planning a NASDAQ IPO. According to a report in Globes, the company expects to come out of its IPO with a $3 billion valuation. Forter, an Israeli firm that specializes in e-commerce fraud prevention, reached a valuation of $1.25 billion. And SentinelOne, an Israeli cybersecurity firm, also hit a valuation of $3 billion.

Founded in 2007 by CEO Yoni Assia and his brother Ronen Assia, eToro calls itself the worldโ€™s leading social trading network, with millions of registered users and an array of innovative trading and investment tools. The company declares its main goal is to remove barriers and make online trading and investing more accessible to the everyday user.

โ€œWhenever people join eToro,โ€ says the firm, โ€œwe aim to make them feel a part of the platform from the very beginning. Moreover, we realize that many people use multiple platforms to manage their capital online, which is why we are constantly expanding our product offering to eventually include all of your financial needs under one roof.โ€

This is fintech — any program, software as a service or internet platform which uses technology to help businesses and consumers alike organize their finances and investments.

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