Moneyfarm Rejects Takeover Offer From eToro, Deeming It Too Low
Key Facts
Moneyfarm rejected a takeover offer from trading and investment platform eToro after deeming the valuation too low, according to a Bloomberg report cited by Börsvärlden. The report said the proposed deal would have strengthened eToro’s presence in Europe, where Moneyfarm’s operations are concentrated particularly in the United Kingdom and Italy. eToro was not directly quoted explaining its detailed reasons for making the offer. The rejection comes as Moneyfarm reports strong business growth in the first half of 2026. eToro shares closed at $24.30 on October 22, 2026, according to EL7 data.
Published figures from Moneyfarm show that its active investor base exceeded 190,000 in the first half of 2026, up 14% year over year. Net inflows also reached €1 billion during the period, up 84% from the first half of 2025. The company said it attracted about 25,000 new active clients, an increase of 46% year over year. These indicators provide context for the decision to reject the offer: Moneyfarm considered the proposed valuation insufficient to reflect the company’s value, according to the cited Bloomberg report. The report gave no other reasons for the rejection, such as a disagreement over strategic direction.
Moneyfarm said it reached breakeven in July 2025 and then maintained a positive margin throughout the first half of 2026. This places client and inflow growth in the context of the company’s transition to operating profitability, as it describes it, alongside continued expansion of its investor base. The company provides wealth management services, while its existing partnership with eToro allows the latter’s clients in the United Kingdom to access a managed ISA account. Under the arrangement, Moneyfarm provides the technology platform, creates and manages investment portfolios, and handles client relationships. In February 2025, eToro expanded the offering by launching an ISA account that allows clients to manage their portfolios themselves, complementing the managed account already available on the platform.
The rejected offer comes amid eToro’s expansion through partnerships and acquisitions, although the company has not said that this was the direct reason for its attempt to buy Moneyfarm. In August 2026, eToro announced an agreement to acquire U.S. trading broker TradeZero to strengthen its presence in the United States. It said the total consideration could reach $231 million, with completion expected in the first half of 2027, subject to approvals. eToro says TradeZero adds broker-dealer infrastructure and products aimed at active traders. The deal was announced on August 11, 2026.
eToro’s quarterly results provide further financial context for its expansion efforts. The company said net contribution was $229 million in the second quarter of 2026, up 9% year over year, while accounting net income rose 77% to $53 million. Assets under management stood at $19.2 billion, up 10% from the same period a year earlier, while cash and cash equivalents and short-term investments totaled $1.2 billion on June 30, 2026. The chief executive described the quarter as “another strong quarter” as the company pursued its long-term strategy. eToro has set November 10, 2026, for the release of its third-quarter results before the market opens, followed by an investor webcast at 8:30 a.m.