eToro Closes IPO Books After 10x Demand
Hey FinTech Fanatic!
Some stories arrive all at once, like a tide waiting offshore. After shelving its public debut in 2021, eToro has found its moment, and the response has been swift.
According to Calcalist, underwriters Goldman Sachs and Jefferies have closed the order books earlier than scheduled. The offering is reportedly more than ten times oversubscribed, paving the way for the Israeli FinTech company to raise over $500 million at a valuation exceeding $4 billion.
Founded in Israel, eToro operates a platform for stocks, ETFs, and crypto assets. A rebound in crypto trading volumes has reshaped its trajectory. From a net loss of $21 million in 2022, followed by a modest profit of $15.3 million in 2023, the company reported a $192 million profit last year. Revenue rose from $639 million in 2023 to $931 million in 2024, while EBITDA nearly tripled to $304 million over the same period.
There is, however, a shift in the short term. Higher marketing investments are forecasted to weigh on profits. For Q1 2025, eToro projects net income between $56 million and $60 million, compared to $64 million in the same quarter last year.
A missed chance in 2021, a re-entry in 2024, and now an IPO met with remarkable demand. That’s where eToro stands today.
Read more global FinTech industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
INSIGHTS
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PAYMENTS NEWS
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DIGITAL BANKING NEWS
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BLOCKCHAIN/CRYPTO NEWS
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PARTNERSHIPS
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DONEDEAL FUNDING NEWS
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MOVERS AND SHAKERS
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