Buying and selling platform eToro has filed confidentially for a U.S. IPO that would worth the corporate at over $5 billion, the Monetary Instances reported on Thursday.
Israel-based eToro, which competes with the likes of Robinhood, advised TechCrunch it’s “not commenting on IPO 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. Based in 2007, eToro provides customers a technique to commerce property resembling shares, ETFs, and crypto. A supply advised FT that the corporate may formally listing in New York as early because the second quarter.
After a lull and maybe inspired by ServiceTitan’s public market success to this point, extra fintechs are taking steps to go public themselves. Digital financial institution Chime filed its confidential paperwork with the SEC in December.
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