Robinhood, a Palo Alto, CA-based financial services platform, raised $110m in Series C financing.
The round was led by DST Global, with participation from existing investors Index Ventures, NEA, and Ribbit Capital, as well as new investors Greenoaks Capital and Thrive Capital.
The round brought total funding to date to $176m and valued the company at $1.3 billion.
The company intends to use the deploy the capital to accelerate expansion of its products and services.
Led by Baiju Bhatt and Vlad Tenev, Robinhood provides a financial services platform that enables people to invest in U.S. stocks and ETFs, commission-free, and Robinhood Gold, its paid service for active investors, which supports margin and extended hours trading.
Robinhood now counts over two million users and and $50 billion in transaction volume.