eToro's mission to deliver new products have hit its bottom line in the UK. The UK arm of the firm has reported a net loss of $878,499 for 2014, more than two and a half times the amount it lost in 2013, but that i﻿s just a part of the picture. In total, the company is losing £2.4m per month on sales of £1.1bn over the past 12 months. Parent, eToro Group Limited, has global growth ambitions. Last year the firm secured $27m of funding from Chinese and Russian investors and pledged to expand in both emerging markets. Ping An Ventures and fintech focused SBT Venture Capital, who partners Russia's largest bank, have both committed to additional funding.
eToro's mission to deliver new products have hit its bottom line in the UK. The UK arm of the firm has reported a net loss of $878,499 for 2014, more than two and a half times the amount it lost in 2013, but that i﻿s just a part of the picture. Details are not clear due the company's structure, but the figures are consistent with increased costs associated with the company delivering new products such as single stock CFDs. Parent, eToro Group Limited, has global growth ambitions. Last year the firm secured $27m of funding from Chinese and Russian investors and pledged to expand in both emerging markets. Ping An Ventures and fintech focused SBT Venture Capital, who partners Russia's largest bank, have both committed to additional funding.