Robinhood, a modern trading platform that offers both traditional securities as well as crypto, has reportedly secured $660 million in total through its Series G funding round. The platform revealed it raised $200 million through the round last month, with D1 Capital Partners leading the round.
A spokeswoman from Robinhood revealed to Reuters that the participants of the round included Andreessen Horowitz, Sequoia, DST Global, Ribbit Capital, 9Yards Capital. She also shared:
“We’ve raised an additional $460 million in subsequent closings to our Series G to support our core product and customer experience and new offerings like cash management and recurring investment.”
The media outlet further noted the latest investment round brings Robinhood’s amount raised from investors to nearly $1.25 billion and a total amount raised to more than $2 billion.
Founded in 2013, Robinhood is on a mission to democratize finance for all and it believes it should work for everyone and not just a few. The platform offers commission-free trading in one, user-friendly platform as well as crypto. Trading in stocks, ETFs, and options are offered through Robinhood Financial LLC, member SIPC. While sharing details about the latest investment round, the Robinhood team stated:
“We believe investing at its core is a democratic concept — it allows people to take part in the success of a company or sector they believe in. With our latest round of funding, we’ll continue empowering people in their financial lives and enabling a more democratic financial system.”
The investment round comes nearly one month after Robinhood revealed it was postponing its UK launch. The indefinite delay follows technical issues that Robinhood’s trading platform experience. Robinhood also quietly turned off its stock popularity data feature, which allowed anyone to see which companies’ shares were surging in popularity by the masses of traders.