Robinhood Gets FCA Approval
Robinhood, an investing application with commission-free trading, revealed that they’d received authorisation from The Financial Conduct Authority to maintain their services within the United Kingdom. A subsidiary, Robinhood International Ltd will support Their U.K. Services.
The Financial Conduct Authority confirmed that Robinhood International Ltd received operational authorisation on August 7th, 2019. The reference number for the firm is 823590 and can be used to contact the FCA regarding concerns with Robinhood in the future. Getting legal access to the United Kingdom is a significant step forward for the firm’s international growth.
Wander Rutgers will be leading the United Kingdom Operations as the President & CEO of Robinhood International Ltd. He will maintain the company’s office in London, England. Before working for the international firm, Wander was employed by Plum Fintech as a personal savings assistant. He oversaw investing & saving products. He’s also worked with TransferWise and made connections with multiple firms worldwide.
The newly announced President & CEO of Robinhood International Ltd publicly stated to reporters: “Today marks the beginning of a new chapter for Robinhood, and we’re excited to take the first important step towards bringing our investing platform to customers in the U.K. I’m thrilled to be a part of Robinhood and our effort to expand into a new international market.”
Currently, their services aren’t available in the United Kingdom. Right now, the employment process for the London Office has become. After the employment process is completed, the London location will need to work on compliance and marketing.
It’s not surprising to find out that Robinhood International Ltd received authorisation. It was only a few weeks ago that the company earned $323 Million in a funding round. It brought their company to a valuation of $7.6 Billion, which is a substantial growth from the $2 Billion estimations they had in 2018. Maintaining services in the United Kingdom will allow for Robinhood to reach new heights in the investment community.