Robinhood Snaps Up Advice Platform Pluto

Robinhood Markets Inc. agreed to buy the artificial-intelligence research platform Pluto Capital Inc. to bring more tailored investment strategies and analysis to the retail brokerage’s users.

Founded by Jacob Sansbury, 24, Pluto is best known for AI-driven personalized investment advice and real-time analytics. Terms of the deal weren’t made public.

“They have built an impressive platform that is highly regarded in the financial-services industry,” Mayank Agarwal, Robinhood’s vice president of engineering, said in a statement Monday.

“Their expertise in artificial intelligence coupled with a mission-aligned passion to democratize finance will complement our team’s effort to bring AI-powered tools to our customers,” Agarwal added.

Robinhood has expanded in recent years into services including cryptocurrency, retirement products and credit cards.