- Robinhood — the no-fee service for trading stocks, options, and cryptocurrencies — announced it raised $323 million at a $7.6 billion valuation
Today Robinhood — the service that allows you to trade stocks, options, and cryptocurrencies without a fee — announced that it has raised $323 million in Series E funding at a valuation of $7.6 billion led by DST Global. Ribbit Capital, NEA, Sequoia, and Thrive Capital also joined the round.
DST Global —the venture firm founded by Russian billionaire Yuri Milner — had also led the Series C and Series D rounds of funding.
Founded by Vlad Tenev and Baiju Prafulkumar Bhatt, Robinhood was previously valued at $5.6 billion as of May 2018. And according to The Information, Robinhood is also reportedly working on raising another round that would value the company at $10 billion.
“We’re focused on building products and services that expand access to our financial system. Since May of last year, we’ve launched our own clearing system, Clearing by Robinhood; rolled out a new Robinhood Gold experience including Nasdaq Level 2 Market Data; and introduced multi-leg options strategies,” said Robinhood in an announcement. “We also acquired Robinhood Snacks to bring people digestible financial news; grew our management team, including leaders for operations and finance; and expanded Robinhood Crypto to more than 30 states.”
MarketSnacks (founded by Jack Kramer and Nick Martell) daily newsletter and podcasts was rebranded to Robinhood Snacks following the acquisition in March 2019. The Robinhood Snacks podcast is available on Apple Podcasts, Google Podcasts, and Spotify Podcasts.
With this round of funding, Robinhood raised $862 million in total venture funding since being founded in 2013 (Crunchbase).