Trading and investing platform company eToro has agreed to acquire the Australian investing app Spaceship in a deal worth up to A$80 million. This deal will strengthen eToro’s footprint in a significant market while widening its product offering as it expands its long-term savings proposition globally.
Since launching in 2017, Spaceship has acquired 200,000+ clients and passed A$1.5 billion in funds under management. The company’s core offering includes a choice of superannuation funds, which fall under Spaceship Super, and a selection of professionally managed investment portfolios under Spaceship Voyager.
Spaceship clients will continue to be served by the Spaceship brand. In the future, Spaceship clients can access eToro’s products, investment tools, and educational resources. In contrast, eToro users can easily access Spaceship’s superannuation and managed funds.
Launched in 2007, eToro is a trading and investing platform with over 38 million registered users from 90 countries. The company is authorized and supervised by regulatory authorities in jurisdictions worldwide, including the Australian Securities and Investments Commission (ASIC).
KEY QUOTES:
“Spaceship and eToro share the goal of making investing accessible for everyone. Like us, they look to the future and we are excited to welcome their team and their clients into the eToro family. With almost two decades of experience building, innovating, and serving clients around the world, I believe that together eToro and Spaceship can take our offering for Australian users to the next level.”
“We are expanding our long-term savings and investing proposition for our users globally, and this acquisition is a key step in this journey. Our mission is to give people the tools and knowledge they need to grow their wealth. To do this, we must continue to build out our offering so that we can support people throughout their investing lives. We hope that this deal will be the first of many in the long-term savings and investing space as we continue to build out our localized product offering in our key markets.”
- Yoni Assia, CEO and Co-founder of eToro
“Joining forces with eToro is a pivotal moment for Spaceship, accelerating our momentum in Australia and unlocking new opportunities for growth. We’re deeply aligned with eToro’s goal of making investing accessible for everyone, and this partnership will enable us to reach new heights as we expand our product offering to customers, while continuing to provide top-tier value. Moreover, it offers our customers a promising opportunity to be part of a forward-looking company that aligns with our future ambitions.”
- Andrew Moore, CEO of Spaceship
