Trading platform eToro has confidentially filed for an IPO in the United States that could value the company at more than $5 billion, according to the Financial Times. reported THURSDAY.
Israel-based eToro, which competes with Robinhood, told TechCrunch it “does not comment on IPO rumors.”
The fintech initially announced plans to go public via a SPAC to a valuation of $10.4 billion in 2021 before abandoning these plans in 2022. In March 2023, it secured $250 million in funding at a valuation of $3.5 billion. Founded in 2007, eToro offers users a way to trade assets such as stocks, ETFs, and cryptocurrencies. A source told the FT the company could officially list in New York as early as the second quarter.
After a lull and perhaps encouraged by ServiceTitan success on the public market so far, more and more fintechs are taking steps to go public themselves. Digital Bank Chime filed his confidential documents with the SEC in December.