We advised the placement agents on the private placement

Davis Polk advised the placement agents in the $650 million private placement in connection with the combination of eToro Group Ltd. and FinTech Acquisition Corp. V (“FTAC”). The Class A ordinary shares of FTAC are listed on Nasdaq under the symbol “FTCV.” Upon closing of the transaction, the combined company will become publicly traded with its common stock expected to be listed on Nasdaq.  

eToro was founded in 2007 with the vision of opening up capital markets. The social investment network offers users a choice of assets to invest in, from commission-free fractional equities to cryptoassets, and a choice of how to invest. Users can trade directly themselves, invest in a smart portfolio or replicate the investment strategy of successful investors on the platform.

FTAC is a special purpose acquisition company (SPAC) led by Betsy Z. Cohen, Daniel G. Cohen and James J. McEntee III, formed for the purpose of entering into a business combination with one or more businesses, with a focus on the financial technology industry. FTAC raised $250 million in its initial public offering in December 2020.

The Davis Polk corporate team included partners Leo Borchardt and Derek Dostal and associate Maxim Van de moortel. Members of the Davis Polk team are based in the London and New York offices.

Copy link to share post