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Patrick Kavanagh (entrepreneur)

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American entrepreneur
Patrick Ryan Grossmann-Kavanagh
EducationUniversity of Washington
Known forFounding 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.

Early life and education

Kavanagh attended the University of Washington from 2006 to 2009, studying finance. He served as a coxswain for the university's rowing team, which won the Intercollegiate Rowing Association National Championship in 2009.

Career

Robinhood

From 2015 to 2020, Kavanagh founded and led Robinhood's cryptocurrency business. Launched in February 2018, Robinhood Crypto initially offered Bitcoin and Ethereum trading in five states. By December 2019, Robinhood had over 10 million user accounts across all services.

Atlantic Money

In 2020, Kavanagh co-founded Atlantic Money with Neeraj Baid, another former Robinhood employee. The company, incorporated in the United Kingdom, launched in 2022 and provides international money transfer services. 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. 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. It expanded its services to 29 European countries and the UK. Atlantic Money operates in the international money transfer market.

References

  1. "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.
  2. ^ Team, TechRound (August 2, 2022). "Neeraj Baid & Patrick Kavanagh, Co-Founders at Atlantic Money". TechRound. Retrieved September 19, 2024.
  3. Hanson, Isaac (September 1, 2023). "Atlantic Money is betting on fiat as it expands into B2B". Electronic Payments International. Retrieved September 19, 2024.
  4. ^ Dillet, Romain (March 9, 2022). "Atlantic Money wants to challenge Wise with even cheaper international money transfers". TechCrunch. Retrieved September 19, 2024.
  5. "Player Bio: Patrick Kavanagh - University of Washington Official Athletic Site". University of Washington Athletics. Retrieved September 19, 2024.
  6. England, Joanna (September 15, 2022). "Investor Patrick Kavanagh talks fintech & investment trends". fintechmagazine.com. Retrieved September 19, 2024.
  7. ^ 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.
  8. "Document". www.sec.gov. Retrieved September 19, 2024.
  9. "Robinhood Hits 10 Million Users, Closing in on Big Old Rivals". Financial and Business News | Finance Magnates. December 4, 2019. Retrieved September 19, 2024.
  10. "ATLANTIC MONEY LTD people - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved September 19, 2024.
  11. "Atlantic Money launches in UK with £2.5m raise". UKTN. July 21, 2022. Retrieved September 19, 2024.
  12. PYMNTS (March 9, 2022). "Former Robinhood Employees Launch Fixed Fee Transfer Service Atlantic Money". PYMNTS.com. Retrieved September 19, 2024.
  13. Leigh, Dana (November 8, 2022). "Meet Patrick Kavanagh, Co-Founder at Foreign Exchange Company: Atlantic Money". TechRound. Retrieved September 19, 2024.
  14. Conchie, Charlie (March 9, 2022). "Money transfer fintech launches in London to take on Wise and PayPal". CityAM. Retrieved September 19, 2024.
  15. "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.
  16. 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.
  17. Dillet, Romain (February 9, 2023). "Atlantic Money launches its cheap foreign exchange service across Europe". TechCrunch. Retrieved September 19, 2024.
  18. Bleach, Tom (December 2, 2022). "Atlantic Money Launches Flat Fee Transfers in France, Italy and Spain". The Fintech Times. Retrieved September 19, 2024.
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