Quantopian Joins Robinhood To 'Democratize Finance For All'

Quantopian, a provider of capital, data, and infrastructure for quants to research code, test, and trade algorithmic strategies, formally announced its intent to join Robinhood, a retail trading platform that offers investors commission-free stock, ETF, options trading, and cash management.

What Happened: Founded in 2011 to inspire and unlock access to algorithmic investing, Quantopian’s co-founder and CTO John Fawcett released a blog post on his team’s intent to integrate with commission-free broker Robinhood.

“The Quantopian team is joining Robinhood to continue to pursue our passion for opening access to markets and democratizing the financial system,” he said. “Quantopian has always stood for greater access and deeper education, so we are fundamentally aligned with Robinhood’s mission to democratize finance for all.”

The development comes after the firm raised nearly $50 million in funds with participation from some well-known investors including Point72 Ventures, Andreessen Horowitz, Anthemis Group, among others. The company used the funds to spur the development of algorithmically-driven strategies that minimize risk through a combination of long and short positions.

After mixed success evaluating new opportunities to derive alpha as well as provide value to participating creators and investors, the firm decided it will retire its community and related services on Nov. 14, 2020.

What Does It Mean: Overall, the decision to join Robinhood plays into Quantopian’s passion for unlocking access to markets and democratizing the financial system.

“Robinhood continues to break down barriers and create a more inclusive financial system,” Fawcett added. “Our merry band of Quantopians should fit right in as we work together to further expand access to financial information and education, and inspire greater participation in the financial markets.”