eToro plans to make larger acquisitions with a cash reserve of $1.2 billion

ChainCatcher news, according to FinanceFeeds, Israeli trading platform eToro plans to use its $1.2 billion cash reserve for larger-scale acquisitions. eToro co-founder Ronen Assia stated that the company is ready for more ambitious M&A activities, but did not disclose specific details.

It is reported that eToro went public on NASDAQ in May 2023, after previously abandoning a $10.4 billion merger plan with a special purpose acquisition company (SPAC) due to unfavorable market conditions. The company raised $250 million in March 2023 from investors including ION Group and SoftBank Vision Fund 2, with a valuation of $3.5 billion.

eToro's acquisition history includes the 2019 acquisition of Danish smart contract infrastructure startup Firmo and cryptocurrency portfolio tracking app Delta; the 2020 acquisition of UK electronic money business Marq Millions (later renamed eToro Money); the 2022 integration of the internal portfolio tool service Bullsheet; the 2023 acquisition of the US stock and options app Gatsby; and the completion of the acquisition of the Australian savings and investment platform Spaceship in November 2024, with a transaction value of AUD 80 million.