eToro to acquire fintech trading Gatsby in US expansion plan

Quick Take

  • eToro acquires Gatsby as part of a diversification plan aimed at younger investors in the US.

  • The Gatsby team will join eToro following the acquisition.

eToro, an online brokering service, is acquiring options trading platform Gatsby as part of the firm's expansion plan to draw in younger, US-based investors. 

The deal is valued at $50 million, in cash and common stock, an eToro spokesperson confirmed. The acquisition is part of the firm's ongoing diversification efforts in the US.

Gatsby was founded in 2018 by co-founders Jeff Myers and Ryan Belanger-Saleh. The app offers commission-free options and stock trading for younger demographics. 

“We've always been huge fans of the social aspects of eToro,” Belanger-Saleh said in the statement. “We've always thought of them as the cool older sibling we'd love to hang with. In terms of product and culture, it's a great fit and we're really excited about the next chapter in our shared future.” 

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