Tradier, an online broker and provider of the widely used “Brokerage in a Box” API for trading platforms, advisors, developers, and individual investors, has announced the acquisition of Rho, an active trading mobile app that made a name for itself with its simplified onboarding and commission-free trading interface. As part of the acquisition, Rho’s technology and customers will be integrated into Tradier’s products. Existing and new clients will have access to a next-generation white-label mobile offering.
Houston-based Rho was founded in 2018 as a commission-free app for investing in stocks, ETFs, equity options, and index options. The Rho mobile platform’s market presence has increased over the years due to its ability to not only serve first-time traders but also empower traders who look for more advanced features than trading apps like Robinhood.
Rho’s founder Andre Norman and his team have built an intuitive and robust platform from the ground up, and the Rho IP includes innovative workflows that can give retail investors a trading edge. Andre Norman will be joining the Tradier management team as SVP of Growth. The acquisition is intended to unleash a powerful commission-free white-label mobile experience to existing Tradier clients and new partners, including large social brands looking to offer embeddable investing capabilities.
“While API-based investing integrations are at a record high, there is a mounting demand for pre-built embeddable, mobile platforms for quick launch from clients,” said Dan Raju, CEO of Tradier. “The pandemic has accelerated retail trade volumes and adoption of mobile by active traders. New and existing companies are all looking to offer commission-free mobile platforms or nested investment capabilities within their apps in mass numbers. We believe this acquisition will enable the distribution of Rho’s signature platform to a large audience to match Rho Financial’s original mission.”
“Tradier has served Rho as a Brokerage Partner for years. We are excited to continue on our mission to democratise commission-free mobile experiences as a part of the Tradier team,” said Andre Norman, Founder, and CEO of Rho. “Together with Tradier, we look forward to continuing to change the way brokerage services are delivered and consumed by Traders.”