Robinhood, a modern trading platform that offers both traditional securities as well as crypto, announced on Monday it raised $200 million through its Series G funding round, bringing the company’s valuation to $11.2 billion. The investment was led by D1 Capital Partners.
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. Recently, Robinhood shared it has been hiring aggressively, revamping the platform, and promising a more hands-on approach in educating younger investors, with reportedly hundreds of additional registered financial representatives are being hired in Texas and Arizona (but not California) to support the new dedication to support. Robinhood also noted:
“Across all of our locations, we’re adding new team members to help us reduce response times, build more self-service tools, and enhance our informational and educational tools.”
Last week, Robinhood 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. Speaking about closing the feature, a Robinhood spokesperson told Fortune at the time:
“We announced we’ve decided to streamline public information about trends in investor activity on our platform. Moving forward, our web platform will not display the number of customers who hold a particular stock on Robinhood.”
