Trading platform eToro has confidentially filed 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 platforms like Robinhood, declined to comment on the IPO rumors. “We are not commenting on IPO speculation,” eToro told TechCrunch.
A Return to Public Market Plans
eToro initially announced plans to go public in 2021 via a SPAC merger at a $10.4 billion valuation but abandoned those plans in 2022. In March 2023, the fintech raised $250 million in funding at a $3.5 billion valuation.
Founded in 2007, eToro allows users to trade a variety of assets, including stocks, ETFs, and cryptocurrencies. According to Financial Times, the company could formally list on the New York Stock Exchange as early as the second quarter of 2025.
Renewed Interest in Fintech IPOs
Following a lull in IPO activity, more fintech companies are taking steps to go public, potentially inspired by ServiceTitan’s recent success in the public markets. For instance, digital bank Chime confidentially filed paperwork with the SEC in December.
If eToro’s IPO materializes, it could solidify the platform’s position as a leading player in the global trading market.
