SCHW - Robinhood Raises Additional $320 Million in Capital Bringing Valuation to $8.6 Billion
Arguably the highest-profile securities broker at the moment, Robinhood is set to become larger following a major infusion of capital. The company, which aims to disrupt the traditional brokerage segment of the finance industry by targeting younger traders, has raised an additional $320 million in its latest funding round, the company announced as an update to a May blog post.
That, combined with the $280 million in financing Robinhood originally announced in that May post, brings the total of the round to $600 million. It also values the company at $8.6 billion.
Image source: Robinhood.