eToro – Social stock & crypto trading platform that focuses on providing financial and copy trading services has announced to lay off 6% of its workforce, around 100+ Employees.
The company is looking for a fresh funding round to infuse with more cash at a 50% lower valuation than it did one year ago. The company had also announced its termination of $10bn SPAC merger in a mutual agreement with its acquisition firm.
eToro is reportedly looking for a private funding round between $800mn & $1bn, valuing the Israeli company at $5bn.
