EToro Co-Founder Says It Has Cash to Target More Ambitious M&A

is ready to undertake more ambitious M&A deals, and has the cash to do so, one of its founders said.

Speaking on the sidelines of the Ambrosetti Forum in Cernobbio, on the shores of Lake Como, Ronen Assia , co-founder and executive director of the Israel-based trading platform, said the position is “available for M&A.”

“We’re looking to do more ambitious stuff involving acquisitions,” Assia said in an interview.

The M&A pipeline includes targets that would allow it to add more asset classes and geographies into its platform, he said, without mentioning any particular company or plan. A raft of acquisitions since 2020 includes fintech Gatsby and .

EToro had cash and cash equivalents of about $1.2 billion, as of June 30 , and a cash position of $988 million at the same date, without debt.

Trump Boost

Unlike some of its competitors, such as Crypto.com , the firm isn’t targeting prediction markets. “I personally don’t believe prediction markets are a long-term investment tool,” Assia said.

let users bet on outcomes of anything, from Taylor Swift’s engagement to which diseases might start spreading. It’s becoming increasingly popular and is also catching up on sports betting.

Cryptocurrencies have rallied since Donald Trump’s reelection in November on the prospect of easier regulation as the US president installs advocates to key regulatory posts.

Ronen and his brother Yoni Assia founded EToro in 2007 as a platform where users can trade and follow top investors in assets including stocks and crypto. The company raised $620 million in its in May.

Earlier this year, it announced plans to in collaboration with .