Rho stands as a lesser-known commission-free trading app, and has been acquired by Tradier, a cloud-based financial services company. The two firms have opted to refrain from disclosing the exact financial terms of this acquisition deal.
Tradier Scoops up Rho
One part of said deal, however, will see Rho’s technology and customers be integrated into the existing portfolio. With this merger at play, Tradier will most likely be put into the “Neo-broker” classification, where it will compete with big names like Robinhood.
Rho itself stands as based in Houston, entering the world as a commission-free investment app back in 2018. Back then, the firm was going by the name of Jellifin, but opted to rebrand to the Rho platform as seen today.
Now, Tradier holds the claim that the Rho mobile platform has a very sizable market presence built throughout the years, mainly thanks to its ability to serve first-time traders. Rho offers these investors no-fee investment within ETFs and Stocks, standing out thanks to its offering of real-time data for options trading.
A Longstanding Relationship
With Rho’s operatives being integrated within the products of Tradier, they will be capable of focusing on the removal of some business areas’ unneeded complexity, simplifying the trading experiences overall for their clients.
Rho and Tradier are no strangers to each other, however, with the two being brokerage partners for several years, now. Tradier will now control the entirety of the value chain thanks to bringing in Rho’s trading in-house. This comes alongside the back-end technology, full licensing rights, as well as the operations themselves.
The Mandatory Kind Words
Dan Raju stands as Tradier’s CEO, and gave a public statement about the matter. He officially welcomed in the Rho exchange to the family of Tradier. He highlighted the growing demand for commission-free, embeddable mobile platforms within the world, even as API-based investing integrations stand at a record high.
Raju highlighted the massive spike in retail trade volumes that came as a result of the pandemic, including the adoption of mobile apps by active traders. Companies both new and old are all looking to offer this array of new traders commission-free mobile platforms, or otherwise embed their services with investment options.
Andre Norman stands as the CEO and founder of Rho, and gave his own public statement about the matter. He declared the exchange to be excited to continue its mission to create a democratized commission-free mobile experience, but doing so under the Tradier team from now on. Norman stated his firm was eager to change how brokerage services are both consumed and delivered by Traders, working alongside Traders.