Online trading site Robinhood has raised a $323 million Series E round led by DST Global, with participation from investors including Ribbit Capital, NEA, Sequoia, and Thrive Capital. The new funding gives the Menlo Park-based company a valuation of $7.6 billion.
Robinhood lets users trade in stocks, options, Exchange Traded Funds (ETFs) and cryptocurrencies with no commission.
Since May of 2018, Robinhood has launched its own clearing system, Clearing by Robinhood; rolled out a new Robinhood Gold experience including Nasdaq Level 2 Market Data; and introduced multi-leg options strategies. It also acquired Robinhood Snacks to bring people digestible financial news; grew our management team, including leaders for operations and finance; and expanded Robinhood Crypto to more than 30 states.
Robinhood was launched in 2015 by Co-Founders and Co-CEOs Vlad Tenev and Baiju Bhatt. The pair met while studying at Stanford.