Robinhood Raises $3.4 Billion in Funding


Robinhood, a Menlo Park, California-based provider of an online trading app, raised $3.4 Billion in funding.

The round was led by Ribbit Capital with participation from existing investors including ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA.

The company intends to use the funds to continue to invest in customer growth, and build and enhance products that give more people access to the financial system.

Co-founded by Vlad Tenev and Baiju Prafulkumar, Robinhood offers commission-free trading in stocks, ETFs, options, and cryptocurrency, plus tools for people to put money in motion.

Read more on the company’s blog here.