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Social Trading Company eToro Acquires Crypto Portfolio Tracking App Delta

Social Trading Company eToro Acquires Crypto Portfolio Tracking App Delta

EToro enables users to invest in a wide range of financial assets, including cryptocurrencies

Hagar Ravet  :  2019-11-06T16:27:20..
Tel Aviv-based financial trading company eToro Group Ltd. announced Wednesday it has acquired Belgian crypto portfolio tracking startup Delta, incorporated as Opus Labs NV, in a deal valued at approximately $5 million. Delta operates an app that allows investors to track more than 6,000 crypto assets across more than 180 exchanges. According to the company, the app is used by more than 1.5 million people.

Founded in 2007, eToro enables users to invest in a wide range of financial assets, including cryptocurrencies. The company launched a pilot blockchain wallet in 2017, and in 2018 launched a final version called eToroX. The company raised around $162 million to date from investors including China Minsheng Financial Holdings, SBI Holdings, and Korea Investment Partners. EToro employs 470 people in Israel. Following the acquisition, Delta’s 15-person team will continue working from their Gent office as a subsidiary of eToro.

This is eToro’s second acquisition this year. In March, the company bought Copenhagen-based blockchain company Firmo Network for an undisclosed sum. Last month, Calcalist reported that eToro was expanding its Tel Aviv-area offices.

eToro CEO Yoni Assia. Photo: eToro eToro CEO Yoni Assia. Photo: eToro eToro CEO Yoni Assia. Photo: eToro

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