Robinhood secures $200mn in Series G funding from D1 Capital

By Pavithra R

Robinhood, a California based financial services company, has announced that the company has raised $200 million in Series G funding, bringing the firm’s valuation at an $11.2 billion valuation from D1 Capital Partners.

Robinhood is planning to use the funding to improve its core product and customer experience. The FinTech aims to continue empowering people in their financial lives and enabling a more democratic financial system.

The firm has also announced that since January, the average unique daily visits to its Learn resources are up more than 250%. The company understands the requirement of staying informed of the volatile market conditions and is offering resources to help people do the same. Robinhood has published more than 650 articles on Learn, which provides easily-digestible information on the basics of investing, market trends, and financial terms.

The firm has also announced its plan to hire new registered financial services representatives this year in Southlake, Texas, and Tempe, Arizona to meet the evolving customers’ needs.

Recently, Robinhood raised an additional $320 mn Series F funding.

Founded in 2013, Robinhood Financial makes it possible to make unlimited commission-free trades in stocks, funds, ETFs, options, and cryptocurrencies. Its cash management product helps users to earn 0.30% APY* on uninvested cash and to gain flexibility with a brokerage account. Its crypto helps to tap into the cryptocurrency market to buy, HODL, and sell Bitcoin, Ethereum, Dogecoin, and more, 24/7. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services and is not a member of FINRA or SIPC.