Robinhood increases $ 323 million from DST, Sequoia and Ribbit Capital

Robinhood, a stock and digital asset trading platform, announced a $ 323 million E Series according to a Reuters report.

DST Global, a prominent internet startup investor, led the financing round along with crypto notes Ribbit Capital and Sequoia.

According to Reuters, the company will lead the capital toward expanding its business and offering new financial services.

"We're going to use the funding to continue pursuing our goal of democratizing everyone's finances," a Robinhood representative wrote in a statement.

Since crypto assets were launched in January 2018, Silicon Valley-based startup has rolled out a variety of coins and crypto-related trading features. In May, Robinhood launched cryptocurrency trading for seven assets, including bitcoin and ethereum in New York.

In particular, the company etereum built classic trading one day ahead of Coinbase in August 201[ads1]8. It offers crypto trading in bitcoin, ethereum, bitcoin cash, ethereum classic, litecoin and dogecoin to 20 states.

Almost a year ago, Robinhood started the IPO process in September. CEO Baiju Bhatt said at the time: "Being a public company, I believe in line with our mission too. And it's definitely on the horizon, not in the short term, but that's something we think about."

The platform has become popular by offering commission-free trades.

Robinhood's total valuation topped $ 7.6 billion with this final round, which also saw the participation of Thrive Capital and NEA.

Robinhood app image via Shutterstock