INSUBCONTINENT EXCLUSIVE:
The multi-asset investment platform eToro, which spans “social” stock trading to cryptocurrency, has acquired Delta, the crypto
portfolio tracker app.Terms of the deal remain undisclosed, although one source tells me the deal was worth $5 million
It is not clear if it is stock only or cash (or a mixture of both) and if it is contingent on any future targets being met.The Delta app
helps investors make better decisions regarding their crypto investments by providing tools such as portfolio tracking and pricing data
It very much fits with the evolution of eToro, which not only wants to “own” the commission-free stocks (and ETF) space, but has also
ventured ambitiously into crypto — most recently bringing crypto asset trading to the U.S.Delta’s crypto portfolio tracker app has
support for more than 6,000 crypto assets from more than 180 exchanges
It provides investors with a range of tools to track and analyse their crypto portfolios
To date, Delta says it has seen 1.5 million downloads and has “hundreds of thousands” of active monthly users.The acquisition sees Delta
become part of the eToro Group, while the Delta team led by Nicolas Van Hoorde will become part of eToroX, reporting to Doron Rosenblum
“The team will continue to be based in Belgium, working in close collaboration with eToro and eToroX employees across the globe,” says
eToro.Meanwhile, eToro is talking up the fact that it is a regulated platform where you can hold crypto and traditional assets in the same
The idea with the Delta acquisition is to extend that so you’ll be able to track all your investments in once place, starting with crypto
and eventually multi-asset
In addition, you’ll be able to trade from the app via eToroX, eToro’s own crypto exchange.“At a time when other fintechs state that
they are not even targeting profitability, we are proud to be a well funded, profitable business that is growing both in terms of
geographical coverage but also product range,” says Yoni Assia, co-founder and CEO of eToro, in a statement.“We are a trading and
investing platform that not only provides clients with access to the assets they want, from commission free stocks and ETFs through to FX,
commodities and cryptoassets, but also lets customers choose how they invest
They can trade directly, copy another trader or invest in a portfolio
We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering.”
