Robinhood Markets has announced the acquisition of AI-powered investment research platform, Pluto Capital, for an undisclosed sum.

According to the company, investors can look “forward to a new era of intelligent, data-driven investing at Robinhood.”

As a result, Pluto Founder and CEO, Jacob Sansbury, will join the Robinhood team in a bid to accelerate its product roadmap and help integrate AI-powered capabilities across the platform.

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As part of the acquisition investors will benefit from enhanced data analysis, personalised investment strategies and real-time insights and portfolio optimisation.

Robinhood, VP of Engineering Mayank Agarwal, said: “We are thrilled to welcome Pluto and Jacob Sansbury to Robinhood.

“They have built an impressive platform that is highly regarded in the financial services industry. Importantly, their expertise in artificial intelligence coupled with a mission-aligned passion to democratise finance will complement our team’s effort to bring AI-powered tools to our customers.”

Pluto CEO, Jacob Sansbury, added: “Robinhood is the ideal destination to build products that democratise access to financial services like wealth management and financial planning through state-of-the-art AI. I look forward to innovating at the company which has inspired me and so many others.”