Financial Trading Platform eToro Secures $6.3 Million In Series B Funding
March 31, 2009 at 12:03 PM EDT
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 Israeli startup raised $1.7 million in Series A funding from Cubit Investments, Chemi Peres, and other investors. The financial trading company, which launched originally as an online foreign exchange trading platform, is small but growing with an average of 2,000 new accounts opened every month. eToro is also announcing the addition of commodities trading for its users as well as significant additions to its trading methods which will allow traders to conduct more long-term, lower-leveraged trades in both the forex and commodities markets. 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.