Global multi-asset investment platform eToro has announced that it has acquired portfolio tracking and pricing data app Delta for an undisclosed amount.
Yoni Assia
Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said:
We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun. This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience.
Delta is a crypto portfolio tracker app with over 6,000 cryptoassets available from more than 180 exchanges. It provides investors with a range of tools to track and analyze their crypto portfolios.
Nicolas Van Hoorde, CEO of Delta, commented:
This acquisition makes sense for Delta, eToro and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation. Both companies have been successful because we’ve built supportive and engaged communities and have a commitment to build user-first, cutting edge technology.
LeapRate reminds that last year, eToro created its blockchain subsidiary eToroX, which now provides the infrastructure, in the form of a crypto wallet and exchange, that supports eToro’s commitment to facilitating the evolution of tokenized assets.
Doron Rosenblum, Managing Director of eToroX, the blockchain subsidiary of eToro, added:
I’m thrilled to welcome Delta to the eToro family. They have a fantastic product which we believe will make a great addition to our crypto offering. We will be exploring how we can continue to diversify Delta, and will integrate with eToroX so customers can trade from within the app, and also looking to broaden the scope beyond crypto to reflect the many different asset classes offered by eToro.
The Delta team under the leadership of 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.
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, concluded Yoni Assia. “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.