eToro promotes Orel Assia to lead growth of eToro Money

Israeli social trading and multi-asset brokerage company eToro has promoted Orel Assia to the role of head of growth for its eToro Money program.

Assia has originally joined eToro back in 2018 as a design manager responsible for the UX & UI of the firm’s crypto platform (eToroX). There, he managed a team of developers and designers, as well as working closely with content, SEO, localization, product and R&D teams to improve user acquisition funnels, from the initial marketial engagement to specified product actions.

Assia’s career, which dates back to 2006, also encompasses other roles as a designer, creative director and SEO expert.

eToro Money, which includes the distribution of a VISA debit card to users, connects to a user’s eToro investment account allowing them to instantly deposit and withdraw funds and manage their crypto and funds all in one place.

The product is currently live in 19 countries and is being rolled out across Europe. Specifically, the service is now available in Iceland, Liechtenstein, Czech Republic, Poland, Bulgaria, Croatia, Norway, Denmark, Hungary, the Netherlands, Belgium, Luxembourg and Finland, the UK, Cyprus, Romania, Spain, Italy, Portugal, Malta, Monaco, France, Austria, Slovakia, Slovenia, and Germany.

In its efforts to streamline operations, eToro card provides instant “cash-out and cash-in” functionality to customers, a feature that the company says their user-base has been requesting for a while. eToro expects the debit card will further provide its customers with a convenient way to withdraw and spend their funds.

As part of its effort to streamline the user experience, eToro acquired the portfolio management business Bullsheet to further offers greater visibility into their eToro accounts.

The deal marks the broker’s second acquisition in two months, the latest of which was eToro’s purchase of no-fee trading app Gatsby to expand its business in the US. The takeover, which was around $50 million in cash and common stock, was initially filed for approval by the US Financial Industry Regulatory Authority (Finra) back in December 2021.

Bullsheet’s portfolio manager is designed exclusively for eToro users who want insightful information about their portfolio without all the manual work of updating their stakes. The platform was launched last year by Portuguese cousins Filipe Sommer and João Ramalho Carlos, who originally joined eToro’s Popular Investor program.