Acquisition will enable eToro to double down on Australian market presence, whilst setting sights on savings and superannuation sector
eToro, the trading and investing platform, has entered into an agreement to acquire Australian investing app Spaceship.
The acquisition will strengthen eToro’s footprint in a key market for the business, while also broadening its product offering, bringing superannuation into its portfolio as the company expands its long-term savings proposition globally.
The deal, which eToro says could be worth up to $80 million AUD, will in the future see eToro offer its users easy access to Spaceship’s high-performing superannuation offering, with Spaceship’s GrowthX super seeing 11% annualised performance from its launch in 2017 to August 31 2024.* Spaceship customers will eventually gain access to eToro’s investment multi-asset platform, which offers equities, funds, ETFs, commodities and crypto, as well as tools and educational resources.
Since launching in 2017, Spaceship has acquired more than 200,000 clients and surpassed $1.5 billion AUD in funds under management. The company’s core offering includes a choice of superannuation funds, which fall under Spaceship Super, and a selection of professionally managed investment portfolios, under Spaceship Voyager.
Yoni Assia, CEO and Co-founder of eToro said: “Spaceship and eToro share the goal of making investing accessible for everyone. Like us, they look to the future and we are excited to welcome their team and their clients into the eToro family. With almost two decades of experience building, innovating and serving clients around the world, I believe that together eToro and Spaceship can take our offering for Australian users to the next level.
“We are expanding our long-term savings and investing proposition for our users globally and this acquisition is a key step on this journey. Our mission is to give people the tools and knowledge they need to grow their wealth. To do this we must continue to build out our offering, so that we can support people throughout their investing lives. We hope that this deal will be the first of many in the long-term savings and investing space as we continue to build out our localised product offering in our key markets.”
Andrew Moore, CEO of Spaceship said: “Joining forces with eToro is a pivotal moment for Spaceship, accelerating our momentum in Australia and unlocking new opportunities for growth. We're deeply aligned with eToro's goal of making investing accessible for everyone, and this partnership will enable us to reach new heights as we expand our product offering to customers, while continuing to provide top-tier value. Moreover, it offers our customers a promising opportunity to be part of a forward-looking company that aligns with our future ambitions."
Robert Francis, MD of eToro Australia said: “This is a significant milestone for eToro in Australia and underscores our commitment to growing our presence here. We want to give Australians everything they need to meet their investing goals. By combining Spaceship’s superannuation proposition with eToro’s multi-asset investment offering, we can better support our users throughout their investment journeys. I look forward to working with the Spaceship team.”
Spaceship clients will continue to be served by the Spaceship brand. In the future, Spaceship customers will gain easy access to eToro's products, investment tools and educational resources, whilst eToro clients will be able to sign up to Spaceship through the eToro app and view their Spaceship funds on their eToro account. This integration will take place gradually.
Founded in 2007, eToro is a trading and investing platform with over 38 million registered users from 75 countries. The company is authorised and supervised by regulatory authorities in jurisdictions around the world including ASIC.
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Media contacts
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About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 38 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
About Spaceship
At Spaceship, we're on a mission to transform the way people think about and invest their money. We started in 2017 with Spaceship Super, and in 2018 we launched Spaceship Voyager, which is making investing easy for everyone. In 2023, we launched a new US Investing service. Since launch, we have grown to more than 200,000 financial members and surpassed $1.5 billion in funds under management – but we're just getting started.
Regulation and License numbers
Australia
eToro AUS Capital Limited(“eToro Australia”) is regulated by the Australian Securities & Investments Commission (“ASIC”) for the provision of financial services and products. Australian Financial Services Licence number: 491139.
Spaceship Capital Limited(“Spaceship”) is regulated by the Australian Securities & Investments Commission (“ASIC”) for the provision of financial services and products. Australian Financial Services Licence number: 501605.