Published on CITY A.M.
by Oliver Smith, December 10, 2014, 1:48am
SOCIAL investment network EToro yesterday closed a $27m (£17.2m) funding round led by the venture capital arm of China’s largest financial services group Ping An Insurance and SBT Venture Capital which is partnered with Russia’s largest bank Sberbank.
Israeli startup EToro, which has offices in Canary Wharf’s Level39, has 4m users across 140 countries who invest through its transparent network that allows traders to see each other’s investments.
“We’re very excited to have two of the largest financial institutions in the world join our company as partners,” said EToro chief executive Yoni Assia. “We look forward to leveraging their deep industry knowledge and expertise with our disruptive vision and product.”
The funds will be used to accelerate EToro’s growth with a planned expansion into China and Russia on the company’s roadmap.