FTCV - SPAC Fintech Acquisition V surges on report of deal for trading platform eToro

March, 15 2021 08:35 PM FinTech Acquisition Corp. V

SPAC Fintech Acquisition V (FTCV) jumped 24% in after hours trading on a report that it plans to take the Israeli trading platform eToro public in a deal that will value the company at about $10b.The companies are raising about $650m for the transaction, according to a Bloomberg report. The deal may be announced as soon as tomorrow.Like stock trading app Robinhood (RBNHD), eToro has also attracted large numbers of new customers as young investors turned to the stock market during the pandemic. The company's revenue doubled to $500M and is profitable, Calcalist reported last month.Fintech Acquisition V is one of several SPACs led by investor Betsy Cohen.Recall Dec. 28, Fintech eToro plans to go public, through IPO or SPAC.Recall Dec. 4, FinTech Acquisition V prices $218M IPO.

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SPAC Fintech Acquisition V surges on report of deal for trading platform eToro

Company Name:	FinTech Acquisition Corp. V
Stock Symbol:	FTCV
Market:	NASDAQ

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