Robinhood announced on Monday it secured $323 million through its Series E funding round, which was led by DST Global, with participation from investors including Ribbit Capital, NEA, Sequoia, and Thrive Capital.
Founded in 2013, Robinhood reported that it is on a mission to democratize America’s financial system and it believes its financial system should work for everyone and not just a few. The company offers commission-free trading for stocks, ETFs, options, and cryptocurrencies – all in one, user-friendly platform. Speaking about the progress it has made over the past year, Robinhood’s team stated:
“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. 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.”
Robinhood went on to add that it is planning to use the funding to keep pursuing its mission of democratizing finance for all.