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

• Robinhood (RBNHD) reports 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.