Robinhood has raised fresh funding of $320 Million bringing the total for the round to $600 Million. This total includes the earlier funding of $280 Million that the company got in May, bringing Robinhood’s post-money valuation to $8.6 Billion.
Robinhood has made the financial markets easily accessible to the common man with a number of first time investors signing in to trade in stocks. The fintech company offering the free-trading is today one of the most valuable startups in the country.
The new funding was led by their existing and new investors including Sequoia Capital, IVP, and private equity firm TSG Consumer Partners.
Robinhood plans to use the funding to invest in scaling the platform and building new products, in addition to hiring top talent across offices.