Investment platform eToro announced the acquisition of portfolio management company Delta on Friday for an undisclosed amount. This is the firm’s second acquisition this year, signaling its focus on robust growth.
Why is the acquisition important?
eToro co-founder and CEO Yoni Assia said that Delta is now a part of their company and suggests their focus on innovation and continued growth. She said,
“When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun.”
She added that the company mission acts as their guiding light, which drives them to evolve organically and also via acquisitions to help bring the best experience to their customers.
Delta is a crypto portfolio tracking service that provides data on over 6,000 digital assets from over 180 exchanges. It provides investors with all the necessary tools to analyze their crypto investment portfolios. Delta app has been downloaded by more than 1.5 million users to date and has several thousand active users. The app has received a 4.6/5 rating on Android and a 4.8/5 rating on iOS. It also received a 2018 Webby Judged Award for the best mobile app UI/UX.
What’s next for Delta?
According to Delta CEO Nicolas Van Hoorde, the acquisition makes sense for the users of both platforms since eToro is a multi-asset investment platform, and Delta focuses on cryptocurrencies. He said that both companies have shared values and focus on innovation and community. He also pointed out how both companies thrive by creating innovative technology with a user-first approach.
The acquisition will be especially useful for eToroX, the blockchain subsidiary of eToro. Launched in 2018, the subsidiary creates blockchain-based infrastructure for its users, i.e. a crypto exchange and wallet. Its Managing Director Doron Rosenblum praised Delta for its commendable product and said that it would be a good add-on to their crypto offerings.
They will focus on making Delta more diversified by adding more asset classes to the product. The services could be integrated with eToroX to help users trade digital coins. Delta’s team will work under Hoorde and will report directly to Rosenblum. The team will stay at their Belgium headquarters and will be integrated with the larger global workforce of the investment platform.