eToro acquires spaceship for $55 million, expanding long-term savings

eToro is acquiring Australian investing app Spaceship in a deal worth up to AUD 80 million ($55 million). This move strengthens eToro’s presence in the Australian market and expands its focus on long-term savings and passive investments. Founded in 2017, Spaceship has over 200,000 clients and manages AUD 1.5 billion ($1 billion) in assets through superannuation and managed funds.

Yoni Assia, eToro’s CEO, emphasized that both companies share the goal of making investing more accessible, with plans to integrate their platforms. Spaceship will continue operating under its own brand, and its clients will gain access to eToro’s investment tools, while eToro users will benefit from Spaceship’s superannuation offerings.

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The deal is subject to regulatory approval.

Additionally, eToro’s recent quarterly survey showed a shift among retail investors towards stocks and away from cash assets, with the number of international stock investors growing by 16%. Responding to this trend, eToro has expanded its offerings by adding UK and German stocks to its platform.

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