eToro expands in Australia by acquiring the local investing app Spaceship. This acquisition will broaden eToro’s product range and strengthen its presence in the Australian market. eToro is a global trading and investing platform.
eToro will acquire Spaceship for up to AUD 80 million (USD 55 million). The deal involves an initial payment, with additional performance-based payments. It will depend on the achievement of certain business milestones. Spaceship Capital Limited will continue to operate under its brand. This acquisition helps eToro expand further in Australia. eToro will enhance its long-term savings and investment offerings with Spaceship’s superannuation products.
This acquisition will offer multiple benefits to traders and investors:
eToro users will now have access to Spaceship’s high-performing superannuation funds. It includes the GrowthX super fund that has delivered 11% annualized returns since 2017. This adds a long-term savings option.
Spaceship users will get eToro’s multi-asset platform. Thus, they can diversify into equities, ETFs, commodities, and cryptocurrencies. This opens up multiple asset classes for existing investors.
With the integration of Spaceship into eToro, investors can manage superannuation and other assets on a single platform. This simplifies the management of diverse investments. Also, it offers a more convenient way to monitor performance across various asset types.
Investors will benefit from the educational tools and investment resources of eToro. It will help them make informed decisions. The combined platform will provide better support for investors.
eToro is a social trading and multi-asset brokerage platform. It allows users to trade and invest in varied financial instruments, including stocks, ETFs, cryptocurrencies, and CFDs. The platform has unique social trading features like CopyTrader. It lets users replicate the trades of experienced investors. eToro crossed over 35 million users by 2023. It serves in more than 100 countries.
Spaceship is an Australian-based investing platform. It makes investing accessible and easy for everyone. The platform launched in 2017 with Spaceship Super – a superannuation product for long-term savings. It expanded in 2018 with Spaceship Voyager, a micro-investing app. Spaceship allows users to invest in various portfolios with no minimum investment.
eToro will expand its product offerings and serve its Australian clients better with the acquisition. The partnership will offer new opportunities for both companies as they integrate their services. Users will have multiple investment options.
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