Robinhood, a Redwood City, CA-based provider of a retail brokerage platform, raised $13m in Series A funding.
The round was led by Index Ventures with participation from Ribbit Capital, Howard Lindzon, Co-Founder of StockTwits and General Partner at Social Leverage, Aaron Levie, Founder of Box, Dave Morin, Founder of Path, Jared Leto, Snoop Dogg, and Nasir Jones of QueensBridge Venture Partners. In conjunction with the funding, Jan Hammer will join the company’s board of directors.
The company intends to use the funds to hire engineers and designers, expand its beta program for a public launch early next year.
Co-founded by Vladimir Tenev and Baiju Bhatt, Robinhood provides a retail brokerage platform to invest in the stock market. All securities and investments are offered to customers by Robinhood Financial, LLC, a member FINRA and SIPC.
Robinhood Financial, LLC is a wholly owned subsidiary of Robinhood Markets, Inc.