Multi-asset social investment network and Robinhood competitor eToro has signed a definitive agreement to acquire Gatsby -- a fintech startup which also aimed to go head to head against Robinhood -- for $50 million in a cash and common stock deal.

Israel-based eToro told TechCrunch this week that it just received approval from FINRA, the Financial Industry Regulatory Authority, to move forward with the acquisition. The company first filed for regulatory approval in December of 2021.

Jeff Myers and Ryan Belanger-Saleh co-founded Gatsby, a commission-free options and stock-trading app aimed at younger traders, in 2018. The pair had one previous successful exit in Dealtable.com, a social data room platform.

TechCrunch reported on the New York-based startup’s $10 million Series A raise in mid-March 2021. Backers include Techstars Ventures, Beta Bridge Capital, Barclays Bank, SWS Venture Capital, Rosecliff Ventures, a network of “super angels” placed by ClearList and an oversubscribed SeedInvest campaign.

Gatsby’s target customers are Gen Zers and millennials, and it told me that it aimed to give people “a safe and fair platform to trade on without users having to worry about getting in over their heads or being shut out of names when volatility spikes.” Its app launched into iOS and Android in early 2020.

The company’s entire 20-person team will be joining eToro.

Yoni Assia, eToro CEO and co-founder, told TechCrunch that the buy would allow his company to broaden the range of its U.S. product, which today is focused on stocks and crypto.

“The integration of Gatsby will allow us to provide U.S. users with a safe and simple way to trade options, and give them more flexibility to use new strategies,” Assia said. “We believe that options can offer retail investors opportunities to generate returns in today’s more challenging market environment. Scaling our U.S. business is a key goal and we are excited to be partnering with the Gatsby team.”