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eToro snaps up portfolio management startup Bullsheet

Quick Take

  • eToro, the investment platform, acquired Bullsheet in a deal worth a few million euros.
  • The portfolio management startup was built exclusively for users of eToro.

Stocks and crypto investment platform eToro today announced the acquisition of Bullsheet, a portfolio management startup.

The exact terms of the acquisition were not disclosed, but a person close to the deal said it was worth a few million euros.

Founded by Portuguese cousins Filipe Sommer and João Ramalho Carlos, Bullsheet is a portfolio management tool that gives users of eToro’s investment platform a way to analyse their portfolios.

The cousins became eToro customers in 2020 and developed a following on the platform — drawing on social features that allow prominent investors to share tips, and even to have their trades mirrored by fellow users.

The pair then built Bullsheet exclusively for eToro investors. Now, as part of the product development team, Sommer and Ramalho Carlos will help integrate the software into eToro’s platform. A calendar feature is already live and a tool that gives traders a way to monitor their portfolios outside of market hours is due to launch soon. Additional features include a personalized news feed linked to the assets in a user’s portfolio.

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