eToro, the leading trading and investing platform, has announced its acquisition of Australian investing app Spaceship, in a deal valued at up to $80 million AUD. This strategic move strengthens eToro’s presence in the Australian market while expanding its offerings in long-term savings and investment products globally.
Founded in 2017, Spaceship has rapidly grown to over 200,000 clients and manages more than $1.5 billion AUD in funds. The company is known for its innovative superannuation products through Spaceship Super and its managed investment portfolios under Spaceship Voyager. By acquiring Spaceship, eToro aligns with its vision of making investing universally accessible, particularly in the realm of long-term savings.
Yoni Assia, CEO and Co-founder of eToro, emphasized the shared vision: “Spaceship and eToro share the goal of making investing accessible for everyone. I believe that together we can elevate our offerings for Australian users.”
Andrew Moore, CEO of Spaceship, also expressed enthusiasm about the partnership: “Joining forces with eToro is a pivotal moment, unlocking new opportunities for growth. This collaboration will allow us to continue providing top-tier value while expanding our product offerings.”
Through this acquisition, Spaceship clients will retain access to the familiar brand while benefiting from eToro’s extensive range of products, investment tools, and educational resources. eToro users, in turn, will gain from Spaceship’s expertise in superannuation and managed funds.