Trading platform eToro has filed confidentially for a U.S. Stock Launch that would worth the corporate at over $5 billion, the Financial Times reported on Thursday.
Israel-based eToro, which competes with the likes of Robinhood, advised TechCrunch it’s “not commenting on Stock Launch rumors.”
The fintech had initially introduced plans to go public by way of a SPAC at a $10.4 billion valuation in 2021 earlier than scrapping these plans in 2022. In March 2023, it secured $250 million in funding at a $3.5 billion valuation. Founded in 2007, eToro offers customers a option to commerce belongings resembling shares, ETFs, and crypto. A supply advised FT that the corporate might formally listing in New York as early because the second quarter.
After a lull and maybe inspired by ServiceTitan’s public market success so far, extra fintechs are taking steps to go public themselves. Digital financial institution Chime filed its confidential paperwork with the SEC in December.
