Robinhood Financial LLC is set to be valued at about $5.6 billion in a new funding round, according to people familiar with the matter, a fourfold increase in just one year that reflects the stock-trading app’s soaring popularity among millennials. The Silicon Valley startup is in the final stages of securing around $350 million from a group of investors led by Russian firm DST Global, according to the people familiar with the fundraising. ...
Free stock-trading app Robinhood Markets will be valued at $5.6bn in a funding round, according to sources. The valuation is a fourfold rise in just a year and puts the firm among the 15 highest-valued private tech companies in the US. Robinhood is said to be in the final stages of raising about $350m from a group of investors led by Russian company DST Global. Robinhood has attracted four million users by offering free stock trades. It makes money through selling premium service subscriptions, charging interest on client cash accounts and selling customer trades to market makers.