Robinhood closes $660 million in Series G funding

advertisement

Brokerage app Robinhood has raised an additional $460 million for a now-closed Series G funding round, adding to the $200 million it announced last month.

Robinhood now touts an $11.7 billion post-money valuation. The company’s valuations were just $8.6 billion in July and $11.2 billion in August, The Block previously reported.

Robinhood’s Series G investors include Andreessen Horowitz, DST Global, Sequoia, Ribbit Capital, 9Yards Capital, and D1 Capital Partners. 

Vladimir Tenev and Baiju Bhatt, Robinhood co-founders, met as roommates in Stanford University in 2005. Tenev and Bhatt made Robinhood in 2011 with the intention to democratize stock trading and orient it toward a millennial audience. Users can trade cryptocurrency on the platform as well as stocks and funds.

Robinhood now has over 13 million users, reports Finance Magnates, with the median age of users around 30. The app lets users buy and sell stocks without paying a commission, but offers educational material to help users better understand investing.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Why BTG Pactual is launching a crypto platform

Brazil-based BTG Pactual, Latin America’s biggest investment bank, is launching its own crypto asset platform that will initially support bitcoin and ether trading. The platform will be called Mynt and allow customers to purchase bitcoin and ether, BTG Pactual’s Head of Digital Assets André Portilho tells The Block. Eventually, the platform will support other digital […]
Read Full Story
Sep 24, 2021, 9:17PM UTC

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post
More