Founded by former Twitter executive and targeting digital natives, the stainless steel X1 Card uses current and future income instead of credit scores to set smart credit limits.

The firm’s proprietary technology also lets cardholders cancel subscription payments in one click, end free trial automatically with auto-expiring virtual credit cards, get instant notifications on refunds, attach receipts to purchases, and create virtual cards for one-time purchases.

Last July it raised $25 million in funding ahead of opening applications to a waitlist that was already 500,000-strong.

The X1 team in joining Robinhood, with co-founders Deepak Rao and Siddharth Batra overseeing the new business, with Rao serving as GM of credit cards.

The deal helps Robinhood’s efforts to move beyond its initial stock trading focus. It already offers a debit card.

“This acquisition will bring us closer towards our goal of serving the entirety of our customers’ critical financial needs. Together with X1, Robinhood will now be able to offer our customers access to credit,” says Vlad Tenev, CEO, Robinhood.