London-based social investment network eToro says that it has completed US$27 million new round of financing from Chinese venture capital firm Ping An Ventures, the venture investment arm under Ping An Insurance (Group) Company of China, Ltd., and SBT Venture Capital, according to a company announcement.
Existing investors Spark Capital and BRM Group also participated. The new financing also includes a credit facility from Silicon Valley Bank.
eToro has four million registered users in more than 140 countries. Its platforms enable individual investors to see, follow and automatically copy the actions of other investors in real time.
"We are extremely impressed with eToro’s vision and the way its social investment platform enables access to global markets while connecting people from across the world," says Zhang Jiang, director of Ping An Ventures.
eToro says it will use the proceeds on expansion into new regions including China and Russia, as well as rolling out new products.