FinTech Acquisition V to merge with eToro in a $10.4bn deal.

FinTech Acquisition V, a special purpose acquisition company, agreed to merge with eToro, a multi-asset investment platform, in a $10.4bn deal. The deal includes a $650m common share private placement from ION Investment Group, Softbank Vision Fund 2, Third Point, Fidelity Management & Research and Wellington Management. Upon closing of the transaction, the combined company will operate as eToro Group and is expected to be listed on NASDAQ. “Today marks a momentous milestone for eToro as we embark on our journey to become a publicly traded company with Betsy Cohen and the team at FinTech V. I want to express my gratitude for the passion, hard work, drive and determination of all of the eToro team members over the past 14 years who have helped make this a reality,” Yoni Assia, eToro Chief Executive Officer.