Member Exclusive, New banks

‘They’re all numbers anyway,’ Digits wants to change the way small businesses manage their finances

  • Today, most small businesses rely on external financial experts to help with their finances.
  • Digits hopes to change that with its AI-fueled dashboard. That could leave certain careers with a blurry future.
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‘They’re all numbers anyway,’ Digits wants to change the way small businesses manage their finances

2021 may turn out to be a big year for small businesses. 60% of small business owners expect revenue to increase this year, according to a report by Bank of America.

It may also be a big year for fintechs zeroing in on small businesses. 62% of small businesses say they’ve adopted more digital tools and methods as a result of the pandemic, according to the same report.

Profile

Robinhood is an online stock brokerage that offers its customers commission free trading and investing. Robinhood users can invest and trade in stocks, exchange traded funds, options, and cryptocurrency. Customers can invest in over 5,000 stocks with Robinhood, including most U.S. equities and ETFs listed on U.S. exchanges.

Robinhood Financial, LLC and Robinhood Crypto, LLC are wholly-owned subsidiaries of Robinhood Markets, Inc. All cryptocurrency holdings are held in Robinhood Crypto as opposed to Robinhood Financial.

The company was founded in 2013 by Stanford roommates Baiju Bhatt and Vladimir Tenev. It has its headquarters in Menlo Park California and offices in the U.S and the UK.

Account Types

Robinhood’s products are accessible through its three different accounts: Robinhood Instant, Robinhood Gold and Robinhood Cash.

Robinhood Instant

Robinhood Instant is the default Robinhood account which is a margin account that has access to extended hours trading and instant deposits. Robinhood Instant account users do not have to wait for funds to process while selling stocks or depositing up to $1000.

Robinhood Gold

Robinhood Gold comprises a range of investing tools and premium products such as greater instant deposits starting at $5000 to a max of $50k, research from Morningstar on 1700 stocks, Level II Market Data from Nasdaq and more access to trading on margin. It has greater buying power and larger instant deposits as compared to the Robinhood Instant account.


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