Robinhood disclosed neither the price nor the terms of the deal.
“As we introduce more products to the growing communities we serve, we also need more talent to help us expand as a company, bring our mission to life, and deliver financial access to more people,” Robinhood wrote in the announcement.
Robinhood continues to be a go-to trading app, particularly among younger investors, although its reputation was dinged last month year when it temporarily froze trading in GameStop.
Following significant hype in the WallStreetBets group on Reddit, demand surged for shares in the struggling retailer; Robinhood put the brakes on trading because of what it said were limitations imposed by its clearinghouse.
Perhaps Robinhood’s new recruiting drive will help it bulk up to the level of those peers.