Trading platform eToro has filed confidentially for a U.S. IPO that could value the company at over $5 billion, the Financial Times reported on Thursday.
Israel-based eToro, which competes with the likes of Robinhood, told TechCrunch it is “not commenting on IPO rumors.”
The fintech had initially announced plans to go public via a SPAC at a $10.4 billion valuation in 2021 before scrapping those plans in 2022. In March 2023, it secured $250 million in funding at a $3.5 billion valuation. Founded in 2007, eToro gives users a way to trade assets such as stocks, ETFs, and crypto. A source told FT that the company could formally list in New York as early as the second quarter.
After a lull and perhaps encouraged by ServiceTitan’s public market success thus far, more fintechs are taking steps to go public themselves. Digital bank Chime filed its confidential paperwork with the SEC in December.
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