Robinhood’s subsidiary bags FCA approval and appoints a new president

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Wander Rutgers, President, Robinhood International

US-based fintech, Robinhood announced that its subsidiary Robinhood International Ltd. has received an authorization by the UK financial services regulator, Financial Conduct Authority, for the initiation of its operations in the UK as a broker.

According to the fintech, this step will allow it to introduce its investing platform to customers in the UK, thereby advancing its goal of regularizing finance.

In addition to the authorization news, Robinhood International has appointed Wander Rutgers as the new President. Wander is expected to lead the U.K. business and oversee the new London office.

“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 it and our effort to expand into a new international market,” commented Wander Rutgers.

Robinhood is currently valued at $7.6 billion,  post its series E round, in which it raised $323 million from DST Global, Ribbit Capital, NEA, Sequoia and Thrive Capital.

Established in 2013 in the US, the fintech provides commission-free trading for stocks, ETFs, options, and cryptocurrencies.

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