eToro Eyes Bigger Acquisitions After Nasdaq Listing

eToro Sets Sights on Larger Deals

eToro, the Israeli online brokerage platform, is preparing to ramp up its merger and acquisition strategy following its May 2025 public listing on Nasdaq (ticker: ETOR). According to co-founder Ronen Assia, the firm now has the liquidity and public-market credibility to pursue opportunities beyond its past niche acquisitions.

The company ended June 2025 with approximately $1.2 billion in cash, equivalents, and short-term investments, providing a significant war chest for dealmaking. “Were ready for more ambitious M&A,” Assia told Bloomberg, while declining to share specific targets.

From IPO Struggles to Nasdaq Debut

eToros expanded appetite for acquisitions follows a turbulent path to becoming a publicly traded company. The firm originally planned a $10.4 billion SPAC merger in 2021, but the deal collapsed due to deteriorating market conditions. Instead, eToro raised $250 million in March 2023 from backers including ION Group and SoftBank Vision Fund 2, at a significantly reduced valuation of $3.5 billion.

The companys eventual listing on Nasdaq in May 2025 marked a turning point, not only boosting its credibility but also equipping it with capital for more aggressive market moves.

Strategic Acquisitions to Date

So far, eToros acquisitions have focused on enhancing technology, securing licenses, and broadening product offerings rather than expanding scale. Key deals include:

• Firmo (2019): Smart contract infrastructure start-up.
• Delta (2019): Crypto portfolio tracking app.
• Marq Millions (2020): UK e-money issuer later rebranded as eToro Money.
• Bullsheet (2022): Portfolio management tools tailored for eToro users.
• Gatsby (2023): U.S. stock and options app targeting younger traders.
• Spaceship (2024): Australian savings and investments platform acquired for up to A$80 million, marking a step into long-term savings and pensions.

This acquisition history reflects a trading platform expansion approach that diversifies income streams beyond volatile retail trading.

Rising Competition in Brokerage M&A

eToro‘s aggressive stance comes amid heightened brokerage industry competition. Rival fintech players are also on the acquisition trail: Robinhood has agreed to acquire crypto exchange Bitstamp for $200 million, while London-listed Plus500 purchased India’s Mehta Equities to strengthen its Asian presence.

Industry analysts believe eToro will prioritize regulated platforms in finance that expand geographic access, along with savings-focused products that generate recurring cash flows. The Spaceship acquisition in Australia is seen as an early blueprint for cross-selling outside its traditional European stronghold.

With more than 35 million registered users worldwide and a strong retail brokerage base, eToro is now positioned to join the front ranks of retail brokerage market consolidation, placing it head-to-head with Robinhood and Plus500 in the global fintech landscape.

About eToro

Founded in 2007 in Tel Aviv by Yoni Assia, Ronen Assia, and David Ring, eToro is a leading social trading and investment platform. It allows users to trade equities, cryptocurrencies, ETFs, and commodities, while offering innovative social trading features like copy-trading. With over 35 million registered users across Europe, the UK, Australia, and beyond, eToro continues to expand as one of the most influential regulated platforms in global finance.

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