23 May 2017
Visit EBAday.com

Stock trading app Robinhood raises $110m at $1.3bn valuation

26 April 2017  |  4959 views  |  1 hipster suit with phone

Robinhood, the Silicon Valley startup behind a no-commission stock trading app, has raised $110 million in a Series C funding round that values the firm at $1.3 billion.

DST Global led the round, which was joined by existing investors NEA, Index Ventures, and Ribbit Capital, as well as new backers Thrive Capital and Greenoaks Capital.

With traditional retail brokerages such as E*Trade charging fees of anything up to $10 a trade, Robinhood has attracted strong interest for its apps since launching in 2015.

It now claims more than two million users, who have transacted over $50 billion and saved nearly half a billion dollars in commission fees.

Last year the firm launched a paid feature, called Robinhood Premium, which for $10 a month gives users things such as lines of credit and after-hours trading. This product is experiencing 17% month-over-month sign up growth.

The firm says it will use the new capital to accelerate the expansion of products and services, adding that it is "working on a few exciting releases".

KeywordsFINDEX

Comments: (1)

A Finextra member
A Finextra member | 26 April, 2017, 16:36

Free isn't free - RH is a scam

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Commission-free stock trading app Robinhood raises $50m

Commission-free stock trading app Robinhood raises $50m

08 May 2015  |  6061 views  |  1 comments | 7 tweets | 4 linkedin
Robinhood raises $13m for commission-free stock trading app

Robinhood raises $13m for commission-free stock trading app

24 September 2014  |  5256 views  |  0 comments | 4 tweets | 4 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comDownload the paper nowvisit www.response.ncr.com

Top topics

Most viewed Most shared
European banks lobby Commission to push ahead with screen scraping banEuropean banks lobby Commission to push ah...
8813 views comments | 29 tweets | 35 linkedin
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8674 views comments | 28 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8575 views comments | 27 tweets | 27 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8359 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8291 views comments | 19 tweets | 24 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job