eToro Acquires Australian Investing App Spaceship

eToro, the global online trading and investment platform, has announced the acquisition of Spaceship, an Australian investment application.

Spaceship is a financial services company with over 200,000 clients and more than A$150 million under management. The company offers its core business superannuation funds to clients through Spaceship Super and also offers professionally managed investment portfolios through Spaceship Voyager.

The A$80 million deal strengthens eToro's presence in key markets, further broadening its product offers and helping it to promote its long-term savings business globally.

As eToro expects to continue to launch local products in key markets, the acquisition of Spaceship is the company's first deal in the long-term savings and investments space.

Following the acquisition, Spaceship customers will continue to be served by the brand and, in the future, offered eToro's products, trading tools, and educational resources. At the same time, eToro customers will have easy access to Spaceship's pension and managed funds.

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.

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.”