New generation of Brokers takes center stage in the global finance show

Social trading network eToro raised $100 Million in a private placement so naturally we were curious who is eToro.  Israel is also an intriguing market, so we reached out to CEO and founder Yoni Assia to get more depth about the company more than what is on the site.  But before that, a little background about eToro. Who is eToro? eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets. They are one of the fastest growing brokerage firms in the world. 10 months ago, they raised $162 Million in total funding, according to Reuters:

“TEL AVIV (Reuters) - Israeli social investment platform eToro said it raised $100 million in private financing, bringing total funds raised to $162 million.  The investment round was led by China Minsheng Financial, with SBI Group, Korea Investment Partners and others participating. The money was raised at a company valuation of $800 million.  It completed its capital raising with the support of the London Stock Exchange Group’s private placement platform. The company said growth has been driven, in part, by demand for investments in the cryptocurrency market.  Founded in 2007, eToro has over 9 million users who can manually invest in over 1,500 instruments while those who lack time or experience can automatically copy the trades of other traders on the platform.”

eToro has been around for a while, so the delve into Crypto was only natural.  We were chomping at the bit to talk to Yoni Assia about his background, and particularly his personal story.  So Pre IPO Swap sat down with him and here’s what he said:

What got you involved in the idea of online brokerage?

I started trading when I was 13 years old. My father taught me about the markets and I was fascinated. My brother and co-founder, Ronen, who comes from an industrial design background, used to say that I have “accountant hobbies” and that he can’t understand anything he sees on all the screens and charts in my room. We quickly realised that global markets and economies were connected to one another, yet somehow 99% of the world was disengaged and disconnected from this ecosystem. We created eToro in 2007, with the vision of opening global markets to everyone, so that they could trade and invest in a simple and transparent way - and this is what we have been doing ever since.

 

Yoni Assia Image Source: Finance Magnates

What you would like to see on eToro but is not possible?

I think that everything is possible, so instead of talking about things we can’t do, I will share my thoughts about eToro in 2025. When I envisage eToro 3-5 years from today, I believe it will offer its clients a wide range of financial services: In addition to the existing brokerage business, we will also offer our clients checking and savings accounts, debit and credit cards, loans, etc. All of these services will be managed on the blockchain, which I believe will replace the obsolete core of current financial services technology.

Does eToro have programs that give back to the community?

Yes. We have offices in multiple locations worldwide, and we encourage our local offices to give back to their communities. From a group perspective, we recently launched Good Dollar, a series of ongoing experiments and research projects sponsored by eToro, establishing an economic framework designed to reduce global wealth inequality through Universal Basic Income (UBI). Our goal is to enable a fairer global distribution of wealth, allowing more people the freedom to pursue and fulfill their lives’ purpose.

It says on your eToro profile that you lost 33% in the last 12 months – how do you explain that? https://www.etoro.com/people/yoniassia

I’m a crypto enthusiast and am heavily invested in crypto. My performance in 2018 correlated with the industry. We’re paving a path in uncharted land -  it’s going to be a long journey, but I believe that it will be worthwhile in the end.

What is one personal thing you’d like to share with our readers, who might want to know more about you as an individual, such as a hobby or sport you like?

My hobbies are finance and technology, so everything you need to know about me is public -  Just follow me on twitter :) @yoniassia

We’re excited to follow Yoni we will be sure to check back with him next year to see how things have played out at eToro.

Pre IPO Swap covers private financing rounds on private companies like eToro.