Given its namesake, it's, maybe, overdue that Robinhood, the favored cell buying and selling app that has raised virtually $700 million in enterprise capital over the past 12 months, is lastly opening up operations in merry outdated England. Whereas the timing of these operations getting underway has not been introduced, the agency does look like hiring throughout the Pond. We first reported on rumors of a doable transfer into the U.Okay. market again in January.
It has been reported by TechCrunch, nonetheless, that its places of work can be nowhere close to Sherwood Forest, as a substitute searching for a extra cosmopolitan locale in London. The publication additionally reported that Robinhood has employed Wander Rutgers, previously of one other UK fintech known as Plum, to run its new operations.
As famous within the TC piece, Robinhood shares buyers with what can be one in all its UK opponents, Revolut; the 2 share Index and DST. The Robinhood operation will fall beneath a UK subsidiary known as Robinhood Worldwide Ltd. which has been licensed by the UK’s regulator, the Monetary Conduct Authority, to conduct enterprise as a dealer with some restrictions together with not having the ability to maintain consumer cash and being “restricted to hold on regulated actions.”
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