What you need to know about Israeli co-founder of eToro Yoni Assia and the $250m funding round
Yoni Assia is a well-known Israeli entrepreneur and the co-founder of eToro, a social trading and investment platform that has been making waves in the social trading and cryptocurrency market. Recently, eToro raised $250m in a funding round, which has further solidified the company’s position as a leader in the social trading space. In this article, we’ll take a closer look at Yoni Assia, eToro, and the impact they’re having on the industry.
An introduction to the co-founder
Yoni Assia, born in Savyon in 1981, is a well-known Israeli entrepreneur and CEO of eToro. eToro is a social trading and investment platform that offers easy trading, primarily in equities and commodities, and were one of the pioneers of simple and secure cryptocurrency trading. He co-founded the company in 2007 [originally called RetailFX”] with his brother- Ronen Assia, and friend, David Ring. The platform quickly gained popularity, attracting over a million users by 2010.
Assia’s passion for technology and finance began at an early age, and he learned to code when he was just 10 years old. He has been a strong advocate for blockchain technology and cryptocurrencies, and eToro was one of the first online brokers to offer cryptocurrency trading to its users. He has also been a key figure in the development of eToro’s blockchain-based social trading platform.
Assia’s accomplishments extend beyond his work with eToro. He started his career in 2000 while serving in the military as a programmer under the technology unit of the IDF Military Intelligence Directorate. While studying for his BA degree in 2003, he co-founded and became the Development Manager of WiTech Communications and CDRide, an on-ride video technology company. He is also married to Mor Assia, the founding partner and co-CEO of iAngels, one of the most active VC funds in Israel. They have five children together: Adam, Anne, Ari, Alex, and Amy.
One notable event in Yoni Assia’s career was his dinner with renowned investor Warren Buffet in 2019. Assia was invited to have dinner with Buffet after winning a charity auction with a bid of $4.5 million. Assia took the opportunity to discuss his vision for eToro and the future of finance. Buffet, known for his scepticism of cryptocurrencies, was reportedly open to Assia’s ideas and was impressed by the eToro platform. The dinner was a significant moment for Assia and eToro, as it highlighted the company’s growing influence in the financial industry.
Assia is a remarkable individual whose vision and leadership have transformed the financial industry and inspired countless others to pursue their own entrepreneurial dreams. He remains grounded and committed to using his wealth and influence for good, donating millions of dollars to various charitable causes over the years. He is also a passionate philanthropist and has established several scholarship programs to help young people pursue their dreams.
The early days of eToro
At its inception in 2007, eToro was initially designed as a social trading network, allowing users to follow and copy the trades of other successful traders. Over time, eToro has evolved to become a full-fledged trading platform, offering a wide range of assets, including, stocks, ETFs, commodities, currencies, indices and cryptocurrencies.
The company has always been committed to making investing more accessible to everyone. This is reflected in the platform’s user-friendly interface, which makes it easy for even novice investors to start trading.
eToro’s impact on the cryptocurrency market
eToro has had a significant impact on the cryptocurrency market since it first started offering Bitcoin trading in 2013. At the time, cryptocurrencies were still relatively unknown and were mostly traded on unregulated exchanges.
eToro was one of the first regulated platforms to offer cryptocurrency trading, which helped to legitimize the industry and make it more accessible to a wider range of investors. Today, eToro is one of the most popular platforms for buying and selling cryptocurrencies, with over 20 million registered users worldw-id-e.
The platform has also been instrumental in introducing new people to the world of cryptocurrency. Many people who had never heard of Bitcoin or other cryptocurrencies before have been introduced to them through eToro’s user-friendly platform.
Yoni Assia’s vision for the future
Yoni Assia has always been a vocal proponent of cryptocurrencies and blockchain technology. He believes that these innovative technologies have the potential to revolutionize the financial industry and make it more accessible to everyone. He predicts cryptocurrencies are the future of money and that eToro will play a key role in this transition. He also believes that blockchain technology will have a significant impact on a wide range of industries, from healthcare to real estate.
Assia is also a proponent of social trading, which allows users to follow and copy the trades of successful traders. He believes that this feature will become increasingly popular and will help to democratize investing, making it more accessible to everyon-e.
Looking ahead, eToro has ambitious plans for expansion. The company is looking to expand into new markets, including the United States, and is also exploring new products and services, such as a cryptocurrency debit card.
The $250m funding round
In March 2021, eToro announced that it had raised $250m in a funding round led by investment firm ION Group. The funding round valued eToro at $2.5 billion and will be used to support the company’s continued growth and expansion.
The funding round is a significant milestone for eToro and is a testament to the company’s success in making investing more accessible and user-friendly for people around the world.
eToro’s expansion into new products and services
In addition to its focus on social trading and cryptocurrencies, eToro has also been exploring new products and services to offer its users. One such product is the eToro Club, which is a premium membership program that offers a range of benefits and perks to its members.
eToro Club members can enjoy lower spreads on trades, access to exclusive webinars and events, and a dedicated account manager. The program has been well-received by users and has helped to solidify eToro’s position as a leader in the industry.
Another area where eToro has been making waves is in the world of decentralized finance (DeFi). DeFi is an emerging area of the cryptocurrency market that seeks to create decentralized financial instruments and applications that can operate outside of traditional financial institutions.
eToro has been exploring the potential of DeFi and has already launched several DeFi-related products and services, including a DeFi portfolio that allows users to invest in a basket of decentralized finance tokens.
Yoni Assia has been a vocal proponent of DeFi and believes that it has the potential to revolutionize the financial industry in much the same way that cryptocurrencies have. He has also expressed a strong interest in the potential of non-fungible tokens (NFTs) and believes that they will play an increasingly important role in the world of art and cultur-e.