eToro Signals Commitment to Growth With Acquisition of Delta
- Second deal of 2019 supports expansion as eToro eyes further acquisitions -
LONDON, Nov. 6, 2019 /PRNewswire/ -- Global multi-asset investment platform eToro has today announced the acquisition of Delta for an undisclosed amount. Delta helps investors make better decisions regarding their crypto investments by providing tools such as portfolio tracking and pricing data.
Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said: "We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun. This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience."
Delta is a crypto portfolio tracker app with over 6,000 cryptoassets available from more than 180 exchanges. It provides investors with a range of tools to track and analyze their crypto portfolios. To date, Delta has been downloaded by over 1.5 million users and has hundreds of thousands of active monthly users. The app is known for its superior quality which is reflected in extremely popular users reviews (4.8 average on iOS and 4.6 on Android) and its award winning user interface (2018 Webby Judges Award Winner for best mobile app UI/UX).
Nicolas Van Hoorde, CEO of Delta, commented: "This acquisition makes sense for Delta, eToro and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation. Both companies have been successful because we've built supportive and engaged communities and have a commitment to build user-first, cutting edge technology."
eToro was founded in 2007 with the vision of opening up global markets so that everyone can trade and invest in a simple and transparent way. While this core vision remains unchanged, new technology namely blockchain, means that the eToro business has, and will continue to, evolve. In 2018, eToro created eToroX, its blockchain subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and exchange, that supports eToro's commitment to facilitating the evolution of tokenized assets.
Doron Rosenblum, Managing Director of eToroX, the blockchain subsidiary of eToro, added: "I'm thrilled to welcome Delta to the eToro family. They have a fantastic product which we believe will make a great addition to our crypto offering. We will be exploring how we can continue to diversify Delta, and will integrate with eToroX so customers can trade from within the app, and also looking to broaden the scope beyond crypto to reflect the many different asset classes offered by eToro."
The Delta team under the leadership of Nicolas Van Hoorde will become part of eToroX reporting to Doron Rosenblum. The team will continue to be based in Belgium, working in close collaboration with eToro and eToroX employees across the globe.
"At a time when other fintechs state that they are not even targeting profitability, we are proud to be a well funded, profitable business that is growing both in terms of geographical coverage but also product range, concluded Yoni Assia. "We are a trading and investing platform that not only provides clients with access to the assets they want from commission-free stocks and ETFs through to FX, commodities and cryptoassets, but also lets customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering."
Notes to editors:
eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. The eToro Group consists of the eToro platform, our multi-asset trading and investment venue, and eToroX, which manages our crypto wallet and forthcoming exchange.
The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
As technology has evolved, so has our business. In 2018, we created eToroX, our digital asset subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and the forthcoming exchange, that supports our commitment to facilitating the evolution of tokenized assets. We believe that leveraging blockchain technology will enable us to become the first truly global service provider allowing everyone to trade, invest and save.
About Delta
Delta App is one of the leading crypto portfolio management tools covering over 6,000 cryptoassets from more than 180 exchanges. It provides investors with a range of tools to track and analyze their crypto portfolios. To date, Delta has been downloaded by over 1.5 million users and has hundreds of thousands of active monthly users.
Disclaimer:
eToro is regulated in Europe by the Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.
eToroX is incorporated in Gibraltar with company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar. It's distributed ledger technology (DLT) provider licence was granted by the Gibraltar Financial Services Commission in December 2018 (licence number FSC1333B).
SOURCE eToro
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