Trading App Robinhood Raises $363 Million at a $5.6 Billion Valuation
Robinhood, the popular mobile trading app, announced today that it has closed a Series D financing led by DST Global, raising $363 million at a $5.6 billion valuation. In the announcement, Robinhood notes that the newly injected capital will be used to further build out the company’s trading platform.
We’ll deploy the capital by accelerating our product expansion even more, investing in our infrastructure and operations, and hiring more world-class talent to join us along the way.
Robinhood, which is well-known for its commission-free stock trading, has had a big year of new releases. Recently, the company unveiled a web platform with research and discovery tools, introduced commission-free options trading, and launched Robinhood Crypto, with commission-free cryptocurrency trading, now available in 10 states (CA, MA, MO, MT, CO, MS, WI, NM, FL, and MI).
We raised $363 million in a new round of funding led by DST Global, at a $5.6 billion valuation. Excited to welcome new investors Iconiq Capital, Capital G, Sequoia Capital, and KPCB to Robinhood. https://t.co/6GtASHfknq
— Robinhood (@RobinhoodApp) May 10, 2018
Other participants in the Series D include new investors Iconiq, Capital G, Sequoia Capital, and KPCB, as well as existing investors NEA and Thrive Capital.