Robinhood gets approval to launch its popular investing app in the UK

POINTS
  • Robinhood has been granted broker authorization from the U.K. Financial Conduct Authority.
  • It’s been building out a team in London led by former TransferWise executive Wander Rutgers.
  • Recently valued by investors at $7.6 billion, the company claims to have 6 million users in total.

Robinhood is set to bring its popular zero-fee stock trading app to Britain.

The company announced Thursday that its international subsidiary had been granted broker authorization from the Financial Conduct Authority, the U.K.’s financial services watchdog.

That means it can now launch its product in the country, and Robinhood says it has been building out a team in London led by former TransferWise executive Wander Rutgers.

“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.,” Rutgers, Robinhood’s president of International, said in a statement.

The California-based firm has a stated mission to “democratize” finance, and has proved popular with younger investors in particular. Recently valued by investors at $7.6 billion, the six-year-old company claims to have 6 million users in total…

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