eToro buys Israeli startup Zengo for $70m

Contents

Israeli online trading platform eToro (Nasdaq: ETOR) is making its first acquisition since its IPO last year. The company has entered into an agreement to buy Israeli custodial crypto wallet provider Zengo for an estimated $70 million, mainly in cash.

The acquisition will expand eToro’s digital asset offering, which already provides a platform for trading securities and cryptocurrencies. According to data from the Finder website, Zengo, founded in 2018, has raised $24 million so far. The company is headed by co-founder Ouriel Ohayon.

eToro lays off 7% of workforce

eToro plunges as initial gains evaporate

eToro jumps on Nasdaq debut

eToro co-founder and CEO Yoni Assia said, "As we often say, crypto downtimes are the time to build, and this acquisition reflects that long-term approach over the past 15 years. This is another testimony to the strength of our diverse business model." The acquisition, he explains, will allow eToro to accelerate Zengo’s growth, while giving customers a choice in how they store and manage their assets.

eToro’s share price is currently 6.16% higher, giving a market cap of $3.085 billion, after the share has weakened 27% since the company’s IPO. According to a report today, the Barkat brothers BRM sold a small part of its stake in the company recently for several million dollars. After the sale, BRM has a 8.3% stake in eToro, worth more than $200 million.

Published by Globes, Israel business news - en.globes.co.il - on April 15, 2026.