- Source: Patrick Kavanagh (entrepreneur)
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.