Thursday 26th September – eToro, the trading and investing platform, has entered into an agreement to acquire the Australian investing app Spaceship in a deal worth up to $80 million AUD.
The acquisition will strengthen eToro’s footprint in a key market for the business, while also broadening its product offering as the company expands its long-term savings proposition globally.
Since launching in 2017, Spaceship has acquired more than 200,000 clients and surpassed $1.5 billion AUD in funds under management. The company’s core offering includes a choice of superannuation funds, which fall under Spaceship Super, and a selection of professionally managed investment portfolios, under Spaceship Voyager.
Yoni Assia, CEO and Co-founder of eToro, said: “Spaceship and eToro share the goal of making investing accessible for everyone. Like us, they look to the future and we are excited to welcome their team and their clients into the eToro family. With almost two decades’ of experience building, innovating and serving clients around the world, I believe that together eToro and Spaceship can take our offering for Australian users to the next level.
“We are expanding our long-term savings and investing proposition for our users globally and this acquisition is a key step on this journey. Our mission is to give people the tools and knowledge they need to grow their wealth. To do this we must continue to build out our offering, so that we can support people throughout their investing lives. We hope that this deal will be the first of many in the long-term savings and investing space as we continue to build out our localised product offering in our key markets.”
Andrew Moore, CEO of Spaceship said: “Joining forces with eToro is a pivotal moment for Spaceship, accelerating our momentum in Australia and unlocking new opportunities for growth. We’re deeply aligned with eToro’s goal of making investing accessible for everyone, and this partnership will enable us to reach new heights as we expand our product offering to customers, while continuing to provide top-tier value. Moreover, it offers our customers a promising opportunity to be part of a forward-looking company that aligns with our future ambitions.”
Spaceship clients will continue to be served by the Spaceship brand. In the future, Spaceship clients will have the chance to access eToro’s products, investment tools and educational resources, whilst eToro users will get easy access to Spaceship’s superannuation and managed funds.
Founded in 2007, eToro is a trading and investing platform with over 38 million registered users from 90 countries. The company is authorised and supervised by regulatory authorities in jurisdictions around the world including the Australian Securities and Investments Commission (ASIC).
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About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 38 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
About Spaceship
At Spaceship, we’re on a mission to transform the way people think about and invest their money. We started in 2017 with Spaceship Super, and in 2018 we launched Spaceship Voyager, which is making investing easy for everyone. In 2023, we launched a new US Investing service. Since launch, we have grown to more than 200,000 financial members and surpassed $1.5 billion in funds under management – but we’re just getting started.
Disclaimers:
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro is authorised and regulated by the Financial Conduct Authority in the UK, in Cyprus by the Cyprus Securities and Exchange Commission, by the Australian Securities and Investments Commission in Australia and licensed by the Financial Services Authority in the Seychelles.
This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
Regulation and License numbers
UK
eToro (UK) Ltd, is authorised and regulated by the Financial Conduct Authority (“FCA”). Firm Reference Number: 583263. Registered in England under Company No. 07973792
Europe
eToro (Europe) Ltd, is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under licence number 109/10. Registered in Cyprus under Company No. HE 200585.
Australia
eToro AUS Capital Limited(“eToro Australia”) is regulated by the Australian Securities & Investments Commission (“ASIC”) for the provision of financial services and products. Australian Financial Services Licence number: 491139.
Spaceship Capital Limited(“Spaceship”) is regulated by the Australian Securities & Investments Commission (“ASIC”) for the provision of financial services and products. Australian Financial Services Licence number: 501605.
