Mar 21, 2023
Trading Platform eToro Raises $250 Million After Abandoning SPAC
(Bloomberg) -- Israel-based social trading platform eToro Group Ltd completed a $250 million funding round that values it at $3.5 billion, the company said in a statement on Tuesday.
Investors including ION Group, SoftBank Vision Fund 2 and Velvet Sea Ventures participated in the round, which was an advance investment agreement reached in February 2021 as part of a proposed merger with a blank-check company that was later abandoned, eToro said.
FinTech Acquisition Corp. V and eToro mutually agreed eight months ago to terminate a proposed $10.4 billion deal to take the trading platform public as the US Securities and Exchange Commission cracked down on special purpose acquisition companies.
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