eToro Confirms $27M Investment From Ping An, SBT

December 10, 2014 | eToro has confirmed reports that Ping An and Sberbank invested $27 million in the company last month. According to the company, Ping An Ventures, which operates under Ping An Insurance Group of China, and SBT Venture Capital, a fintech fund who has partnered with Sberbank, led the financing round. In addition, existing investors Spark Capital, BRM Group and the Silicon Valley Bank. The funding will be used to accelerate eToro’s global growth, with an emphasis on China and Russia. There are now hopes that with the new funding, the company will hold an international IPO by the start of 2016. eToro is a social trading company established in 2007 by founders Ronen Assia and David Ring.