Robinhood Raises Funds Valuing Startup at $5.6 Billion
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Robinhood Markets Inc. is finalizing a fundraising effort that will see the value of the startup, which makes a stock-trading app, jump fourfold in less than a year.
DST Global, a venture capital firm founded by Russian billionaire Yuri Milner, will lead an investment valuing Robinhood at $5.6 billion, a person familiar with the plans said. The funding round is expected to reach $350 million, said the person, who asked not to be identified because the process hasn’t yet completed.