Online investment network eToro has raised $8.3 million in funding from Boston-based venture firm Spark Capital, Phoenix, Ariz.-based Social Leverage and other, undisclosed investors. The new funding will help eToro expand its platform. The company now claims roughly 1.5 million users.
eToro, the world’s largest investment network, announced today that it has closed a funding round of 8.3 million US dollars in funding from Spark Capital, Social Leverage and existing investors to fuel international growth and continue to evolve Toro’s social trading platform. Over the past 24 months, eToro has experienced exponential growth and has created the world’s largest online investment network with 1.5 million users in over 130 countries and thousands of new accounts opened each day.
The Spark team has been instrumental in the development of new markets and market leaders such as Twitter, Boxee, 5Min, Altius Education, AdMeld, Verivue and Tumblr.
“We are very pleased to have Spark Capital on board,” said eToro CEO, Johnathan Assia. “Spark has a successful track record with social network oriented companies such as Twitter and eToro is proud to be in such good company. We are committed to making trading a fulfilling and rewarding social experience and with the support of Spark Capital we have the needed capital and partners to continue to lead the market and fuel our explosive growth and expansion into new regions.”
By combining the capabilities of simple to use trading platforms with a community powered investment network eToro is uniquely positioned to lead the social trading revolution and break down the barriers of complex trading. eToro enables users to view, share and copy their chosen trader’s moves in real time and provides every individual with easy access to the world’s financial markets.
eToro is the world’s largest investment network, with over 1.5 million users in over 130 countries and thousands of new accounts opened each day. eToro leads the social trading revolution through its community powered network, which enables every investor to see, follow and copy the actions of other investors in real time. eToro’s mission is to open the financial markets to every individual and make them accessible through a simple, transparent and more enjoyable way to trade currencies, commodities and indices online. Based on a wide range of innovative web-based and mobile trading platforms that appeal to every level of trading expertise, eToro’s investment network facilitates information exchange between investors, accelerates knowledge sharing and shortens the learning curve for those who want to bring their trading experience to the next level. For more information, visit us at http://www.etoro.com.
About Spark Capital
Spark Capital is a venture capital firm based in Boston, Massachusetts, with investments focused on the conflux of the media, entertainment and technology industries. Over the last decade, the Spark team has been instrumental in the development of new markets and market leaders such as Akamai Technologies, Qtera, Aether Systems, Novatel Wireless, Twitter, 5Min, Altius Education, AdMeld, Verivue and Tumblr. With deep experience and $980 million under management, Spark Capital provides world-class entrepreneurs and revolutionary companies with the resources to succeed in today’s marketplace. For more information, visit http://www.sparkcapital.com