Robinhood, a Menlo Park, California-based platform to invest in stocks, ETFs, options, and cryptocurrencies, from a phone or desktop, raised $323M in Series E funding.
The round, which valued the company at $7.6 billion, was led by DST Global, with participation from investors including Ribbit Capital, NEA, Sequoia, and Thrive Capital.
The company is using the funds to continue to expand operations and build the products.
Co-founded by Baiju Bhatt and Vlad Tenev, Robinhood offers commission-free trading for stocks, ETFs, options, and cryptocurrencies in a single platform. Launched in 2015, the company focuses on building products and services that expand access to the financial system. Since May of last year, it has launched its own clearing system, rolled out a new Gold experience including Nasdaq Level 2 Market Data; and introduced multi-leg options strategies.
The company also acquired Robinhood Snacks to bring people digestible financial news, grew the management team, including leaders for operations and finance, and expanded Robinhood Crypto to more than 30 states.