Patrick Kavanagh (entrepreneur)
Patrick Ryan Grossmann-Kavanagh | |
|---|---|
| Education | University of Washington |
| Known for | Founding Robinhood's cryptocurrency business, co-founding Atlantic Money |
Patrick Ryan Grossmann-Kavanagh is an American entrepreneur known for founding the cryptocurrency business at Robinhood and co-founding Atlantic Money, a financial technology company.[1][2][3][4]
Early life and education
[edit]Kavanagh attended the University of Washington from 2006 to 2009, studying finance.[2] He served as a coxswain for the university's rowing team, which won the Intercollegiate Rowing Association National Championship in 2009.[5]
Career
[edit]Robinhood
[edit]From 2015 to 2020, Kavanagh founded and led Robinhood's cryptocurrency business.[6][7][4] Launched in February 2018, Robinhood Crypto initially offered Bitcoin and Ethereum trading in five states.[8] By December 2019, Robinhood had over 10 million user accounts across all services.[9]
Atlantic Money
[edit]In 2020, Kavanagh co-founded Atlantic Money with Neeraj Baid, another former Robinhood employee.[7][10] The company, incorporated in the United Kingdom, launched in 2022 and provides international money transfer services.[11] Atlantic Money's business model includes no foreign exchange markup and charges a flat fee of £3 per transfer for amounts up to £1,000,000.[7][12][13] The company raised $7.5 million in seed funding from backers including Vlad Tenev and Baiju Bhatt (Robinhood co-founders), Index Ventures, and Ribbit Capital.[14][15][16] It expanded its services to 29 European countries and the UK.[17][18] Atlantic Money operates in the international money transfer market.
References
[edit]- ^ "Patrick Ryan GROSSMANN-KAVANAGH personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved September 19, 2024.
- ^ a b Team, TechRound (August 2, 2022). "Neeraj Baid & Patrick Kavanagh, Co-Founders at Atlantic Money". TechRound. Retrieved September 19, 2024.
- ^ Hanson, Isaac (September 1, 2023). "Atlantic Money is betting on fiat as it expands into B2B". Electronic Payments International. Retrieved September 19, 2024.
- ^ a b Dillet, Romain (March 9, 2022). "Atlantic Money wants to challenge Wise with even cheaper international money transfers". TechCrunch. Retrieved September 19, 2024.
- ^ "Player Bio: Patrick Kavanagh - University of Washington Official Athletic Site". University of Washington Athletics. Retrieved September 19, 2024.
- ^ England, Joanna (September 15, 2022). "Investor Patrick Kavanagh talks fintech & investment trends". fintechmagazine.com. Retrieved September 19, 2024.
- ^ a b c Burroughs, Callum. "Atlantic Money, a fintech founded by Robinhood alumni, aims to dominate the foreign exchange industry by undercutting the likes of Wise and Revolut". Business Insider. Retrieved September 19, 2024.
- ^ "Document". www.sec.gov. Retrieved September 19, 2024.
- ^ "Robinhood Hits 10 Million Users, Closing in on Big Old Rivals". Financial and Business News | Finance Magnates. December 4, 2019. Retrieved September 19, 2024.
- ^ "ATLANTIC MONEY LTD people - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved September 19, 2024.
- ^ "Atlantic Money launches in UK with £2.5m raise". UKTN. July 21, 2022. Retrieved September 19, 2024.
- ^ PYMNTS (March 9, 2022). "Former Robinhood Employees Launch Fixed Fee Transfer Service Atlantic Money". PYMNTS.com. Retrieved September 19, 2024.
- ^ Leigh, Dana (November 8, 2022). "Meet Patrick Kavanagh, Co-Founder at Foreign Exchange Company: Atlantic Money". TechRound. Retrieved September 19, 2024.
- ^ Conchie, Charlie (March 9, 2022). "Money transfer fintech launches in London to take on Wise and PayPal". CityAM. Retrieved September 19, 2024.
- ^ "Launched by Rohinhood alumni, Atlantic Money takes on Wise, PayPal after picking $4.5M funding — TFN". Tech Funding News. March 9, 2022. Retrieved September 19, 2024.
- ^ Allen, Patricia (July 21, 2022). "Fintech startup Atlantic Money scores an additional €2.9 million to launch its money transfer service". EU-Startups. Retrieved September 19, 2024.
- ^ Dillet, Romain (February 9, 2023). "Atlantic Money launches its cheap foreign exchange service across Europe". TechCrunch. Retrieved September 19, 2024.
- ^ Bleach, Tom (December 2, 2022). "Atlantic Money Launches Flat Fee Transfers in France, Italy and Spain". The Fintech Times. Retrieved September 19, 2024.