By 
Stock trading app Robinhood announced that it raised a $200 million Series G funding round from a new investor, New York-based D1 Capital Partners on August 17.
The latest funding round values the popular stock trading app at $11.2 billion, a jump of nearly $3 billion from the $8.6 billion valuation it received last month when it raised $320 million.
This was after the company’s Series F funding round in May wherein it raised $280 million, a deal which then valued Robinhood at $8.3 billion. The capital raise was led by existing investor Sequoia Capital, with participation from existing and new investors including NEA, Ribbit Capital, 9Yards Capital, and Unusual Ventures.
The latest funding round is widely being touted as a precursor to its initial public offering (IPO).Robinhood which has been a hit since its launch in 2015 recorded 4.3 million daily average revenue trades (DARTs) in June, surpassing its competitors, and has added over 3 million new customer accounts as investors of all sizes take part in the year’s huge equity volatility due to the COVID-19 pandemic.
Comments