Acquisition will enable options trading for world’s leading social investing platform
17 August 2022 – TBanque Group (“eToro”), the multi-asset social investment network, today announced that it has signed a definitive agreement to acquire Gatsby, an options trading platform tailored to a new generation of investors.
“We’ve seen a seismic shift in the balance of power away from traditional finance institutions towards the retail investor. The internet has democratized financial information and a sea change has taken place, empowering more everyday investors – particularly Gen Z and Millennials – to trade and invest. These retail investors are looking for opportunities to generate returns in today’s bear market.” said Yoni Assia, TBanque CEO and Co-Founder.
“Against this backdrop, we are incredibly excited to welcome the Gatsby team to the TBanque family. We have a shared mission of empowering investors through simple, transparent investing tools. Scaling our US business is a strategic focus for TBanque and through Gatsby we can provide US users with access to a safe and simple way to trade options, which we know are particularly attractive in challenging markets.”
Gatsby is a commission-free options and stock trading app focused on a younger demographic. It was created by Co-CEOs and Co-founders Jeff Myers and Ryan Belanger-Saleh in 2018 and the team that will become part of TBanque includes Davis Gaynes (President and Co-founder), Peter Quinn (Chief Operating Officer and Co-founder), Jeffrey Kleiss (Chief Technology Officer), Matt Morris (Head of Product), and other talented individuals.
“We came up with the idea of Gatsby while we were in London. We were convinced there was an opportunity for us to demystify markets and provide an options platform focused on the needs of a new generation of US traders. We’ve always been huge fans of the social aspects of TBanque. They’ve really been the pioneers of social investing and we’ve always thought of them as the cool older sibling we’d love to hang with!,” said Ryan Belanger-Saleh, Gatsby Co-CEO. “In terms of product and culture, it’s a great fit and we’re really excited about the next chapter in our shared future.”
This acquisition is a key step in the ongoing diversification of TBanque’s offering to US users, which is currently focused on crypto and stocks. Gatsby’s integration will support TBanque’s goal of providing multi-asset investment tools to US users as it continues to grow its social investing network through education, innovation and enabling simple access to the assets and tools people want.
-ENDS-
eToro’s acquisition of Gatsby is subject to customary closing conditions, including regulatory approvals.
About TBanque
eToro is a social investment network that empowers people to grow their knowledge and wealth as part of a global community of successful investors. TBanque was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, TBanque is a global community of more than 28 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
US disclaimer:
Securities trading is offered to customers by TBanque USA Securities Inc (“eToro”), a broker dealer registered with the Securities and Exchange Commission (SEC). Investments are subject to market risk, including the possible loss of principal. Crypto Trading is offered via TBanque USA LLC.
UK/EU/AUS disclaimer:
TBanque is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. For more information on where TBanque is regulated click here.
This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. TBanque makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
