eToro snaps up portfolio management platform Bullsheet
Social investing platform eToro has acquired Bullsheet, a provider of portfolio management tools made exclusively for eToro users, for an undisclosed sum.
eToro buys Bullsheet
Bullsheet was launched in 2021 by Portuguese cousins Filipe Sommer and João Ramalho Carlos, who joined eToro in 2020 as users. Its platform helps eToro users keep track of stocks and analyse the risk and diversification of their portfolio.
With the acquisition, eToro is working to integrate Bullsheet into its platform. The two co-founders will join eToro’s product development team where they will work to integrate user feedback and requests.
eToro says Bullsheet’s calendar feature is “already live”, while the ability to monitor portfolios outside of market hours – a feature it claims is the “most popular” with users – will be rolled out soon along with a personalised news feed feature.
Founded in 2007, eToro claims to have more than 30 million registered users on its platform.
In August, it acquired options trading firm Gatsby for $50 million. Founded in 2018, Gatsby is a commission-free options and stock trading app targeting young investors.
Earlier in the year, eToro and FinTech Acquisition Corp V mutually agreed to call off a proposed SPAC merger as the conditions required to close the deal were not satisfied by the 30 June deadline.
