For the full year 2023 Revenues at Robinhood came in at $1.87 billion, up 37% year-over-year.
In 2024, Robinhood Canada plans to focus significantly on hiring efforts to expand its footprint in Toronto.
Robinhood will grant access to its app on a rolling basis over the following weeks in the UK, reaching full availability in early 2024.
Robinhood plans to launch UK Brokerage operations and EU Crypto trading in the coming weeks.
Robinhood revenues increased 10% sequentially to $486 million, primarily due to seasonally higher proxy revenue and higher net interest.
Jordan Sinclair spent the past two years as Managing Director – Europe for UK based neobroker Freetrade.
Robinhood had planned to expand to the UK in 2019, but cancelled in mid 2020 at the outset of the COVID-19 pandemic.
As part of the restructuring, Aparna Chennapragada, Robinhood’s Chief Product Officer, will be leaving the company.
In addition to payment of a $30 million penalty, Robinhood Crypto will be required to retain an independent consultant.
Robinhood shares have been on a nearly year-long slide since going public last July, with the company now valued at $7.9 billion.