Robinhood Acquires Pluto To Expand Investment Advice

Key Points:

• Robinhood acquired AI platform Pluto Capital Inc.
• Pluto’s tools will aid Robinhood’s expansion into new financial products.
• Pluto’s acquisition strengthens Robinhood’s mission to democratize finance.

According to BBG, Robinhood acquires Pluto Capital, an AI firm known for prescriptive investing advice. Pluto’s platform will enhance Robinhood’s AI-powered tools and democratize finance.

Financial boutique Robinhood systematically acquired an AI research platform, Pluto Capital Inc., founded by 24-year-old Jacob Sansbury. Pluto Capital Inc. is known for providing AI prescriptive investing advice and real-time analysis. However, the transaction details are not available to the public.

Robinhood Acquires Pluto to Enhance AI Tools

According to Mayank Agarwal, Robinhood’s vice president of engineering, Pluto’s sturdy platform is greatly respected in the financial services industry.

Agarwal further said that Pluto’s boutique AI and shared ambition to democratize finance would contribute massively to Robinhood’s mission of providing AI-powered tools for customers.

Robinhood desires to remain faithful to the average retail trader while expanding its offerings to cryptocurrency, retirement products, and credit cards.

Therefore, Pluto’s abilities will be handy in that context, as it will offer insightful analysis of updated market information and individual portfolios to make investment advice.

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Pluto’s Mission to Democratize Investment Aligns With Robinhood

One of the key objectives that Sansbury set for himself with Pluto was to make personalized investment advice, which until then had been the privileged preserve of the affluent investor, available to the masses.

He added barriers, even mentioning that they took down gates, emphasizing democratizing access for all. By picking Pluto up, it puts more weight behind its mission to democratize finance.