The Israeli trading platform ETORO, founded by Yoni and Ronen Assia, presented a bulletin with the US Securities and Stock Exchange Committee to subscribe to the public subscription in New York. According to the release bulletin, the company's revenues have multiplied more than three times last year, and the net profit jumped thirteen times.
“Globes” learned that Etoro seeks to raise between 300 and 400 million dollars with a pre -money rating of $ 4.5 billion. “Globes” stated in the past that the company was seeking a rating of $ 5 billion. It is believed that he held a meeting with many investors in recent weeks, and the demand for supply is clearly high.
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Behind the growth in Etoro's revenues, the expectation of the election of Donald Trump as President of the United States in the second half of last year, and eventually realized, raised optimism between the cryptors of the cryptocurrency and the revenues affected in November and December.
90 % of revenues from the encryption trade
According to the release bulletin, EToro's revenues last year amounted to $ 12.6 billion, and the net profit was 192 million dollars, which represents an impressive growth over 2023, when revenues amounted to $ 3.89 billion and net profit 15.3 million dollars. According to Bloomberg, 96 % of the company's revenue from trading in encrypted currencies.
This is not the first time that Itoro has sought to advertise. In 2021, she planned a fusion process with SPAC with a rating of $ 10.4 billion, but with a market for securities, especially technology shares, which were cooled in 2022, the plan was suspended. That year, Etoro reported the negative Ebitda of $ 42.8 million, but in 2023 this turned to the positive EBITDA of $ 117.1 million, and last year was $ 303 million last year.
The RobinHood (Nasdaq: Hood) is currently trading in a 35th double on Ebitda. On this basis, if Etoro is a public company, then it must have a maximum of $ 10.6 billion in the market.
Goldman Sachs, Jeffrez, UBS, and Citigroup are behaved as management bullets. Deutsche Bank Securities, Bofa Securities, Cantor, Citizens JMP, Keef, Bruyette & Woods, Mizuho and TD as additional managers run the books. Canaccord Genuity, Melis & Company, Needham & Company, Rothschild & Co and Susquehanna Financial Group as participating managers.
It was published by Globes, Israel Business News – En.globles.co.il – on March 25, 2025.
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