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(FTCV) - Here s Everything You Need To Know About The eToro SPAC Merger
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Get ready for a breakaway stampede in 2021
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Online brokerage eToro to go public via SPAC
With pressures on Robinhood, eToro’s large user base and scale places the U.K.-based challenger front and center to disrupt the U.S. market.
March 17, 2021 3 MINS
Commission-free trading and social networking app eToro announced plans Tuesday to go public via a merger with a blank-check firm set to value the combined company at about $10.4 billion.
EToro is slated to merge with special purpose acquisition company FinTech Acquisition Corp. V, which is led by Betsy Cohen, one of the prominent businesswomen who have joined the SPAC frenzy.
“As a pioneer in the evolution of SPACs, Fintech Masala, our sponsor platform, seeks out companies with outsized growth, effective controls and excellent management teams,” said Cohen, chairman of the board of directors of FinTech V, in a statement. “EToro meets all three of these criteria.”
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