Robinhood, a major US commission-free stock trading and investing app, has announced a partnership with Amplify Latinx, a Massachusetts-based nonprofit organization that assists Latinos in achieving financial success, today. The partnership will give Robinhood Latino users access to Amplify’s tools and resources, including marketing support, a hotline and online resources. The announcement is important for both Robinhood and Amplify as the two firms have come together to help build a better future for Latinos in America.
Amplify Latinx helps Latinos become millionaires through investing in real estate and other assets. Therefore, it is natural that Robinhood has embraced the partnership with Amplify Latinx to provide Latino investors with access to high-quality investments and help them develop a solid financial foundation for their families. In turn, the partnership will help Robinhood grow its Latino customer base. The partnership is another milestone for Robinhood, which is committed to making it easier for everyone to get started in the financial industry.
Mary Elizabeth Taylor, the Vice President of External Affairs and Community at Robinhood Markets, stated: “Our partnership with Amplify Latinx is an extension of our mission to democratize finance for all. Their work to uplift Latinx entrepreneurs, champion leadership opportunities for the Latinx community, and address systemic issues, such as the Latina pay gap, all reflect our commitment to breaking down barriers to wealth creation for so many.”
Meanwhile, Rosario Ubiera-Minaya, an Executive Director of Amplify Latinx, added: “We are grateful to Robinhood for their generous support. This partnership will help us further our mission for equitable economic opportunity and upward mobility for Latinx in Massachusetts. As a demographic historically affected by systemic inequities, having resources and access to uplifting and promoting Latinx talent and representation and creating opportunities for economic growth is crucial to the rebuilding and restructuring of our economy. We look forward to this partnership.”
Additionally, Robinhood collaborated with The Memorial Foundation and the National Bankers Association, as part of its ongoing commitment to partnering with firms that are promoting a more equitable financial system and developing pathways to better financial futures.
Democratizing Investing for Everyone
Robinhood is promoting democratized finance by helping consumers feel confident, informed and secure about investing. In December last year, Robinhood acquired the cross-exchange trading platform , Cove Markets, to enable its users to easily manage their cryptocurrency accounts. Early last year, the firm allowed customers to deposit and withdraw through major cryptocurrencies . In March last year, Robinhood opened a new office in Charlotte in order to scale its business and better serve its customers. The new Charlotte office brought Robinhood’s physical presence to eight cities in the US.
In late 2020, Robinhood raised $200 million in a funding round to improve core products and customer experience, grow its team, and expand its informational and educational resources for customers to learn about the markets and investing.
