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eToro raises $27m from Chinese and Russian investment funds

SOCIAL investment network EToro yesterday closed a $27m (£17.2m) funding round led by the venture capital arm of China’s largest financial services group Ping An Insurance and SBT Venture Capital which is partnered with Russia’s largest bank Sberbank.

Israeli startup EToro, which has offices in Canary Wharf’s Level39, has 4m users across 140 countries who invest through its transparent network that allows traders to see each other’s investments.

"We're very excited to have two of the largest financial institutions in the world join our company as partners," said EToro chief executive Yoni Assia. "We look forward to leveraging their deep industry knowledge and expertise with our disruptive vision and product."

The funds will be used to accelerate EToro's growth with a planned expansion into China and Russia on the company's roadmap.

Brains Behind A Brand with Yoni Assia of eToro

It's a Tuesday when I'm wandering through Waterloo Station.

There it is, the advertisement that stops you in your tracks, a barrister, complete with wig and er, bull horns stares assertively into camera, ruminating on the best possible strategy with regard to investing her hard earned cash. But what if this highly educated, competent (in all areas) high flier struggles when faced with the buying and selling of shares? Why not imbue herself with a decidedly bullish outlook and copy someone who knows how? It's the go-to strategy of self help experts the world over, Tony Robbins for one expounds the theory of modelling; taking an individual you deem successful, analysing what they do and then mirroring to your heart’s content. But what if there was a platform, a social/financial matrix where experts listed their trades and offered followers the chance to do the same?

How eToro’s Yoni Assia is bringing social trading to China and Russia

What is eToro and why did you launch it?

What was your inspiration? How's the business doing?

eToro is the world’s leading social investment network. eToro allows a community of traders to interact with each other, exchange views and share tips on a wide variety of investment vehicles including ETFs, stocks, currencies, commodities and indices whilst trading, and even directly copy the trades of another user.

I started eToro with the mission to revolutionize the way people access the financial markets and make their trading experience more social, simple, enjoyable and transparent. By harnessing the wisdom of the crowd, eToro members can benefit from accelerated information exchange, knowledge sharing and the ability to quickly identify the best investment opportunities.

At the core of what we do, we open up the financial markets to millions of new traders around the world. The platform now has over 5 million users across over 140 countries. eToro is the leading social trading platform and we intend to continue our expansion into other countries.