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. Shares have surged more than 200% since its launch last year, but are down nearly 50% this year. It makes money through selling premium service subscriptions, charging interest on client cash accounts and selling customer trades to market makers.