Israeli digital brokerage eToro is seeking a valuation of more than $3.5 billion and considers the U.S. a potential destination to list its shares, the Financial Times reported on Sunday.
The retail trading platform is weighing an initial public offering (IPO) in New York or London, CEO Yoni Assia told the newspaper, adding that a US listing would give the company access to a broader range of investors than a presence on the British market.
Assia told FT he was “exploring the right timing” for eToro’s stock market debut and was expecting an increased valuation relative to the $3.5 billion from its last funding. The company had raised $250 million in 2023 from investors including ION Group, SoftBank Vision Fund 2 and others.
“We continue to evaluate the right timing and market for a future listing,” eToro told Reuters in an emailed response.
The IPO comes after eToro and Betsy Cohen-backed blank-check company FinTech Acquisition had mutually agreed to terminate their merger deal through the special purpose acquisition company (SPAC) in 2022, scrapping its plans to go public.
