In March, JAY-Z's Roc Nation announced its newest business endeavor, Arrive, a company created to help other startup companies develop their business and provide them with financial support through Arrive's venture fund. On Tuesday (Feb. 6) -- nearly a year since its launch -- Arrive announced its new investment in financial platform Robinhood.
"We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost-efficient for customers all sizes,” said Neil Sirni, president Arrive. “Robinhood will have our support as they execute the long-term vision their company.”
Robinhood was created by financial experts Vlad Tenev and Baiju Bhatt and designed to teach users how to track and invest in stocks. The financial platform is reportedly valued at $1.3 billion and already has over 3 million users since launching its service in 2015.
Robinhood is the third company backed by Arrive, which has already invested in the French audio technology company Delet and InSite Applications, a location-sharing platform set to launch this year.