Robinhood enters the United Kingdom, after raising $323 million last month, the company—now valued at $7.6 billion—announced Wednesday (Aug. 7) it received regulatory approval to operate as a broker in the United Kingdom.
Robinhood haven’t share more information in regards to its launch in the UK but its authorisation by the FCA makes it clear tha the company is going to open a new office in London.
In addition, the company also introduced Wander Rutgers, an executive from TransferWise, as head of its UK business this week. The reason why they have chosen him as a head of the new company is becasue of his experience. He helped previous since before joining Robinhood, Rutgers worked on product for Plum, a money management chatbot company, according to his LinkedIn profile.
Just in the beginning of this year, Robinhood acquired the BitLicense to operate in the state of New York, in addition to a money transmission license. The company recently reached an important valuation point of $7.6 billion, after it raised $320 million in its latest funding round.