With this calculated step, eToro hopes to strengthen its position in Australia, a crucial market for the business, and broaden its global offering in long-term savings and investment.

Since its 2017 start, Spaceship has expanded quickly, amassing over 200,000 clients and managing over $1.5 billion in AUD in assets. Renowned for its creative superannuation funds, Spaceship Super, and well managed investment portfolios, Spaceship Voyager, are two of the company's most notable offerings. This purchase supports eToro's objective of expanding its product line internationally, especially in the long run savings area.

Yoni Assia, the CEO and co-founder of eToro, highlighted the companies' common goal of enabling investment for everyone. The aim of both Spaceship and eToro is to enable everyone to invest. They have an eye on the future, just like us, and we are thrilled to have their staff and clientele join the eToro family. With over two decades of expertise creating, inventing, and providing services to customers globally, Assia stated, "I think that eToro and Spaceship working together can really elevate our offering for Australian users."

Spaceship CEO Andrew Moore emphasized the advantages of collaborating with eToro. Joining together with eToro is a critical step for Spaceship, as it will accelerate our growth in Australia and open up new avenues for expansion. We fully support eToro's mission to make investing accessible to everybody, and this relationship will help us achieve even greater success as we grow the range of products we provide to clients while maintaining the highest standards of quality. Additionally, it presents our clients with a positive chance to join a progressive business that shares our aspirations for the future," Moore added.

The acquisition guarantees that Spaceship customers will continue to benefit from the well-known brand in addition to improving eToro's product offerings. In the future, eToro users will profit from Spaceship's experience in superannuation and managed funds, while Spaceship clients will have access to eToro's vast array of products, financial tools, and instructional materials.