The US commission free stock broker app Robinhood that shook the investing market has announced that they have postponed their UK launch indefinitely.
Robinhood launched a UK waitlist back in November 2019 and in just under 9 months they had almost 250,000 people joined the waitlist.
The company sent out emails on 21 July 2020 updating people on the status of the Robinhood UK Launch. Sadly, they announced they are going to postpone the UK launch indefinitely to focus on their home market. They will be deleting the email addresses gathered from the waitlist and removing it from their systems you can read the full email below.
|“We’re saddened to share that we’ve made the difficult decision to postpone our UK launch indefinitely. We’ll be closing our waitlist and taking down our UK website shortly.|
The world has changed a lot over the past several months and we’re adapting with it. On a company level, we’ve come to recognise that our efforts are currently best spent on strengthening our core business in the US and making further investments in our foundational systems.
Since we announced our intent to launch in the UK, we’ve been fueled by your excitement for Robinhood and humbled by your response. We’re sorry that we cannot deliver the product we promised you this year.
Although our global expansion plans are on hold for now, we will continue our work to democratise finance for all and we look forward to the day when we can bring this mission to the UK.“
The Robinhood UK Team