Cyprus-based social investment platform Etoro has secured $27m from a funding round backed by investors including Ping An Ventures, the corporate venturing arm of insurance firm Ping An Insurance.
SBT Venture Capital, the corporate venturing unit formed by financial services firm Sberbank, also participated alongside exisiting investors Spark Capital and BRM Group.
The round aalso included a credit line from Silicon Valley Bank, though Etotro did not disclose its size.
The company had raised approximately $33.9m as of March 2012, which would put its total funding at $61.9m. Its past investors include Cubit Investments, Social Leverage, Venture51 and several angel investors.
Etoro’s platform allows anyone to begin investing in currencies, commodities and stock by following other investors and automatically copying their actions in real-time. It has a user-base of four million investors and operates in more than 140 countries.
The latest funding will be used to expand into regions including China and Russia, and to accelerate Etoro’s product roadmap.
Mircea Mihaescu, managing partner of SBT Venture Capital, said: “Social Investment is changing the way people trade and invest as part of a revolution started by Etoro and we are thrilled to partner with such a successful and promising company.”