Today, we share with the world some exciting news about a significant milestone for eToro – our plans to become a publicly traded company through a business combination with FinTech Acquisition Corp. V (FinTech V). The Company is expected to have an estimated implied equity value of approximately $10.4 billion at closing. FinTech V is a special purpose acquisition company (SPAC). It went public in December 2020 under the ticker FTCV with the intent to identify a fintech company with which to merge.
While today’s announcement is a very significant step, it does not yet make eToro a public company, nor does it guarantee that the transaction will close, although we expect to begin trading on the NASDAQ under a new ticker symbol in 2021. I always envisioned that one day investors on eToro would be able to invest in eToro stock, and with this announcement we have taken a significant step towards achieving that goal. Going public is the next phase in the evolution of eToro, following our fourteen year growth journey and our record-breaking expansion.
eToro currently has over 20 million registered users from more than 100 countries and our social community is rapidly expanding. In 2020, eToro added over 5 million new registered users. This momentum is accelerating in 2021 as a new generation of investors discover the global markets. In January 2021 alone eToro added more than 1.2 million new registered users to our social network.
Our vision remains unchanged since our founding – to open the global markets so that everyone can trade and invest in a simple and transparent way. As a public company, we will continue our mission of empowering people around the globe by providing them with access to capital markets and the tools for them to invest responsibly. We all remain focused on what has made eToro stand out and what will continue to fuel our success: innovation and customer focus. Our priority remains delivering the best possible trading and investing experience to our global community of users.
Today, eToro is the world’s leading social investment network. So many people have been part of our journey over the past 14 years – eToro’s growing family of more than 1,100 employees (‘eTorians’ as we like to call ourselves), our partners and investors, our Popular Investors and each and every user who has joined us.
I am proud of and grateful for what we have built together – a global multi-asset platform that merges the unique features of our time – rapidly evolving technology, accelerated digital adoption, and the rise of the retail investor. A platform that harnesses innovation to provide investment literacy and tools for everyone who wishes to pursue a better future actively and responsibly. A place that celebrates values of openness, and equality, and allows a voice for everyone to become part of the wisdom of the crowd, to learn and grow.
This is a very important time in eToro’s history, and I look to the future of our journey with excitement and anticipation.