Robinhood, the Menlo Park, California-based fintech startup credited with helping popularize trading among millennials, that it has raised over $1 billion in latest funding from existing investors – Sequoia Capital and Ribbit Capital.
Robinhood’s spokeswoman stated in an email, “We’re pleased to share that we’ve raised over $1 billion from existing investors to continue to invest in record growth. This is a strong sign of confidence from investors that will help us continue to further serve our customers.”
Robinhood enables its customers to buy and sell U.S. stocks, ETFs, and options with zero commission. The trading platform also aims to make people comfortable storing money and trading stocks using its application. Founded in 2013, Robinhood Financial is an SEC registered broker-dealer and member of FINRA and SIPC.
“Robinhood is on a mission to democratize finance for all. We believe it should work for everyone and not just a few. We offer commission-free trading in one, user-friendly platform,” according to the Company’s LinkedIn page.
Robinhood Financial LLC and Robinhood Crypto, LLC are wholly-owned subsidiaries of Robinhood Markets, Inc.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.