Robinhood's $200M funding round boosts valuation to $11.2B

Aug. 17, 2020 2:01 PM ETRobinhood Markets, Inc. (HOOD)HOODBy: Liz Kiesche, SA News Editor7 Comments
  • Robinhood (RBNHDreports a $200M series G funding from D1 Capital Partners, lifting its valuation to $11.2B from $8.6B, its third major investment in five months.
  • The news comes about a week after the stock-trading app company announced plans to hire hundreds of additional registered financial representatives to serve its growing number of customers.
  • In June, Robinhood logged 4.3M daily average revenue trades, surpassing all of the publicly traded brokerage firms.
  • Last month, Robinhood said it was adding $320M of investment to an earlier series of funding that was announced in April. It announced a $280M round of investment in May.
  • The company will use this latest funding to improve its core product and customer experience.

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