Robinhood raises $323m to ‘democratise finance’

Robinhood has announced a $323 million Series E financing, valuing the company at a $7.6 billion.

The fee-free stock trading app released a brief statement, explaining that the round was led by DST Global, with participation from investors including Ribbit Capital, NEA, Sequoia and Thrive Capital.

“We’ll use the funding to keep pursuing our mission of democratising finance for all,” it read, giving no more details.

Since May of last year, the FinTech has launched its own clearing system, Clearing by Robinhood; rolled out a new Robinhood Gold experience including Nasdaq Level 2 Market Data; and introduced multi-leg options strategies.

It also acquired media startup Robinhood Snacks, to bring people digestible financial news; grew the management team with leaders for operations and finance; and expanded Robinhood Crypto to more than 30 US states.

Founded in 2013, Robinhood has raised more than $860 million in venture capital funding to date, moving from a previous Series D valuation of more than $5 billion.

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