Financial Trading Platform eToro Secures $6.3 Million In Series B Funding
Summary
Online financial trading platform eToro has secured $6.3 million in Series B financing from BRM Group, Cubit Investments and other unnamed investors. In 2007, the Cyprus-based startup raised $1.7 million in Series A funding from Cubit Investments, Chemi Peres, and other investors. Jonathan Assia, eToro’s founder and CEO says that the funding will be used to hire additional staff to keep up with demand and it will allow the company to further extend its current platform into the commodities and stock index markets over the next two years. As we noted in the past, eToro’s trading platform is attractive because it provides basic tools for less experienced traders to easily conduct online trading via a simple user interface. It might not seem like the best time for financial startups, but remember: traders thrive in volatile markets.