Robinhood Acquires Investment Research Platform Pluto Capital

Robinhood has acquired investment research platform Pluto Capital, marking its second acquisition in less than a month. The financial details of the deal were not disclosed.

Pluto Capital, launched in 2021 and based in Los Angeles, offers a free trading platform powered by large language models (LLMs) and AI analysis tools. It allows users to create automated trading strategies tailored to their investment risk preferences. The platform supports trading in various cryptocurrencies, including Bitcoin, Ethereum, and Polygon.

In addition to trading, Pluto offers a Sparks program that rewards users for completing educational activities, a community dividend program, and a strategy monetisation program enabling users to license their strategies to others. Pluto also manages an investment fund focused on early-stage companies in the digital assets sector.

Robinhood’s acquisition of Pluto is expected to enhance its data analysis, personalised investment strategies, real-time insights, and portfolio optimisation for its users. Pluto’s founder and CEO, Jacob Sansbury, will join Robinhood as an AI technologist to help integrate AI capabilities across Robinhood’s platform.

Mayank Agarwal, VP of Engineering at Robinhood, praised Pluto’s platform and AI expertise, emphasising its alignment with Robinhood’s mission to democratise finance. This acquisition follows Robinhood’s recent purchase of global cryptocurrency exchange Bitstamp for approximately $200 million, expanding its presence in the EU, UK, USA, and Asia.