Robinhood Markets, Inc.
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Acquisitions
5
Total Acquisitions
$735M
Disclosed Deal Value
2025
$300M
Robinhood acquired wealth-management platform TradePMR for about $300 million, completed in February 2025, to expand into advisor custody and registered investment adviser infrastructure.
Broadened Robinhood's wealth-management reach.
Added a route into advisory assets beyond self-directed trading.
2025
$200M
Robinhood acquired global crypto exchange Bitstamp for about $200 million to add institutional crypto infrastructure and international licensing outside the US.
Expanded Robinhood's crypto footprint.
The deal gave Robinhood access to more than 500,000 crypto users and roughly $95 million of annualized revenue from Bitstamp's existing business, strengthening Robinhood's non-US and institutional crypto strategy.
2023
$95M
Robinhood agreed to acquire credit-card startup X1 for $95 million in June 2023 (with the final closing consideration valued at about $104 million), adding a no-annual-fee rewards credit card built on modern underwriting technology rather than traditional credit-bureau-only scoring.
X1's technology and team became the foundation for the Robinhood Gold Card, a cash-back rewards credit card offered exclusively to Robinhood Gold subscribers, extending the company's business model beyond trading commissions and payment-for-order-flow revenue into consumer lending and card-network interchange fees.
The Gold Card launched to a lengthy waitlist and became a significant driver of Robinhood Gold subscription growth, an important step in diversifying revenue beyond the trading-volume-dependent model that had made Robinhood's earnings volatile in prior years.
2021
$140M
Robinhood acquired shareholder-communications platform Say Technologies for $140 million in August 2021, its first acquisition following its own IPO, to give retail investors tools for submitting questions and voting at company earnings calls and annual meetings.
The deal reflected Robinhood's broader thesis that retail investors wanted more direct engagement with the companies they invested in, not just execution of trades, positioning the company as an advocate for retail shareholder rights within public-company governance processes traditionally dominated by institutional investors.
Say's proxy and engagement technology was integrated into Robinhood's platform, letting retail shareholders participate more directly in corporate votes and executive Q&A sessions than most brokerages had previously enabled.
2019
Robinhood acquired financial newsletter and media company MarketSnacks in 2019 to add editorial content capability, rebranding it as Robinhood Snacks, a daily market-news podcast and newsletter aimed at retail investors who were often new to markets.
The acquisition gave Robinhood an in-house content and media arm that could explain market events in an accessible, conversational tone consistent with the app's broader mission of demystifying investing for first-time retail traders.
Robinhood Snacks became a regular touchpoint keeping users engaged with the platform daily even when they weren't actively trading, supporting broader user retention and financial-literacy positioning.
Robinhood's growth strategy centers on Robinhood Gold, active trader tools, crypto expansion, retirement accounts, cash products, credit cards, advisory assets, international expansion, and acquisitions such as TradePMR and Bitstamp.
Robinhood is a commission-free retail brokerage that earns most of its revenue from payment for order flow (PFOF) -- selling the stream of customer stock, options, and crypto orders to market makers like Citadel Securities, which pay Robinhood a fee per trade for the right to execute it. Crypto has become an outsized contributor to this model: crypto-related PFOF and transaction revenue can run far higher per dollar of volume than in equities or options, and Robinhood's transaction-based revenue jumped sharply in recent years as crypto trading volume grew. FY2025 total net revenue reached $4.473 billion with $1.883 billion in net income, up from $2.951 billion revenue and $1.411 billion net income in FY2024 -- a rapid rebound from a $541 million net loss in FY2023. Robinhood has used acquisitions to diversify beyond pure trading: Say Technologies ($140 million, 2021) added shareholder-communication tools, X1 ($95 million, 2023) added credit-card technology behind the Robinhood Gold Card, and TradePMR and Bitstamp (both 2025) pushed the company into registered-investment-adviser custody and global crypto-exchange infrastructure, respectively -- a broader push toward becoming a full financial platform rather than a single-product trading app. Robinhood's revenue model has shifted significantly since its early years of relying almost entirely on payment for order flow and net interest income on customer cash balances, now spanning crypto trading fees, prediction-market contracts, the Robinhood Gold subscription (bundling premium research, margin lending, and the X1-derived credit card), and, following the TradePMR and Bitstamp deals, custody and infrastructure fees from registered investment advisers and institutional crypto clients.
Robinhood Markets, Inc. has completed approximately 5 corporate acquisitions on record.
When evaluating M&A targets, Robinhood Markets, Inc. prioritizes complementary technology, specialized engineering talent, and immediate synergies that support workflow automation.
Acquisitions enable Robinhood Markets, Inc. to absorb critical capabilities faster than building in-house, accelerating its time-to-market across Financial technology and online brokerage.