eToro acquires crypto portfolio tracker Delta

Trading platform eToro has acquired Delta, a popular crypto portfolio management app. TechCrunch's sources tell the publication that the deal was worth $5M.

Delta enables users to track over 6,000 cryptocurrencies from 180 exchanges. According to the firm, its app has been downloaded by over 1.5 million users and has hundreds of thousands of active monthly users.

"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," Delta CEO Nicolas Van Hoorde said in a press release. "Both companies have been successful because we've built supportive and engaged communities and have a commitment to build user-first, cutting edge technology."

Delta is eToro’s second public acquisition in 2019. In March, the firm acquired Firmo Network for an undisclosed sum. eToro recently hired actor Alec Baldwin to promote its ‘CopyTrader’ feature for US cryptocurrency traders.