Israeli online trading software start-up Tradonomi Ltd., which operates the eToro foreign exchange trading site, has raised $8.3 million in its third financing round. New investor, Boston-based Spark Capital led the round. Current investors BRM Capital, Social Leverage LLC, and angel investors Nechemia (Chemi) Peres and Guy Gamzo, participated in the round.
The financing brings the amount of capital raised by Tradonomi to $20 million. CEO Johnathan (Yoni) Assia, his brother, VP product Ronen Assia, and CTO David Ring, founded the Cyprus-based and British Virgin Islands registered company in 2007. The company develops online trading tools, mainly for the forex and commodities markets. Its accessible trading platform allows ordinary people to trade.
Six months ago, Tradonomi launched a new social feature, OpenBook, which connects the financial world, which is considered classified and confidential, with the open social world. The feature enables traders to communicate, view investments made by other people, share investments, and copy other traders' actions in real time.
eToro's website states that it has more than 1.5 million users in 130 countries, and 2,000 new accounts are opened daily. Tradonomi has 140 employees at its offices in Tel Aviv, New York, Cyprus, and Australia.
Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2011
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