eToro’s company CEO has confirmed that a number of factors have lined up just perfectly to set the right time for eToro’s decision to go public. The company, which has seen massive growth over the last few years, is the latest crypto investment to indicate a decision to go public after Coinbase made a similar announcement earlier in the year.
eToro is Going Public
A week ago, the multi-asset investment platform announced its plans to go public after a merger with fellow fintech outfit, FinTech Acquisition Corp. V, was revealed to be on the horizon.
The joint enterprise, estimated at $10.4 billion, has been touted to go live as eToro Group Ltd. It is expected to list on the Nasdaq NDAQ +2.8% stock trade, with roughly $800 million in cash on its monetary records. The public listing has been set for the third quarter of the year.
Waging on why the time was right for eToro to finally go public, Yoni Assia, the company’s CEO, and co-founder has revealed that apart from the need to see crypto companies maintain public visibility and transparency, his company has also exceeded expectations within the last few years.
A merger is in place, eToro is experiencing unforeseen growth, and according to Assia, the pieces just seem to be fitting at the moment. What better time?
Throughout the span of last year, Assia revealed that the company recorded so much surprising growth, its revenue increase for the year 2020 dwarfed 2019’s by more than 147 percent.
eToro has since grown beyond earlier assumptions and expectations. It is only right, Assia insists, that the company capitalizes on its surprising surge to make new waves. Assia says,
We’re very excited about this next step of growth.