Robinhood tops up with $200m Series G round

Robinhood has announced the completion of a $200 million Series G funding round at an $11.2 billion, from D1 Capital Partners.

This follows a $280 million Series F raise in May, when the firm was valued at $8.3 billion.

The new investment will be put towards improving the commission-free trading app's core product and customer experience.

The US-based firm - which recently pulled out of a planned UK launch - said that it is hiring hundreds of new registered financial services representatives this year in Southlake, Texas, and Tempe, Arizona.

"Across all of our locations, we’re adding new team members to help us reduce response times, build more self-service tools, and enhance our informational and educational tools," read a statement.

The app has seen record growth during the last few months, to the point where its infrastructure has sometimes been unable to cope, with several service outages causing investors to lose money and begin legal proceedings against the business.

There have also been criticisms about the lack of safeguards for more inexperienced investors, particularly in response to the death of a 20-year old who committed suicide in June, apparently due to confusion over a negative balance of $730,000 after trading complex options instruments on the app.

Robinhood responded with more resources to help educate its users, and reported that average unique daily visits to these pages were up more than 250 per cent since January.

    Share Story:

Recent Stories

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.