Robinhood, a trading platform for stocks and digital assets, announced a $323 million funding round according to a Reuters’ report.
DST Global, a prominent investor in internet startups led the financing round along with crypto-notables Ribbit Capital and Sequoia.
According to Reuters, the company will direct the capital towards expanding the business and offering new financial services.
Since offering crypto assets beginning in January 2018, the Silicon Valley-based startup has rolled out a number of coins and crypto-related trading features. In May, Robinhood launched cryptocurrency trading for seven assets including bitcoin and ethereum in New York.
Notably, the firm added ethereum classic trading one day ahead of COINBASE in August 2018.
The platform has gained popularity through offering commission-free trades. It is also looking to add cash management services.
Robinhood’s total valuation topped $7.6 billion with this latest round, which also saw participation from Thrive Capital and NEA.
Robinhood app photo via Shutterstock
