#WealthTech / Robinhood Valued At $11B After $200M Raise

Robinhood Markets Inc., the commission-free online brokerage that offers a mobile app to invest in stocks, ETFs and options, announced a $200 million Series G funding, bringing its valuation to $11.2 billion.

… the latest funding round is seen as a step toward an initial public offering (IPO) by the company… [Robinhood:] “For seven years, the team at Robinhood has been focused on enabling more access to the markets for more people… With this funding, we’ll continue to invest in improving our core product and customer experience.” … “Across all of our locations, we’re adding new team members to help us reduce response times, build more self-service tools, and enhance our informational and educational tools.”

Earlier this month, Robinhood topped PYMNTS’ latest Provider Ranking of Personal Finance Apps.