Robinhood, the popular free stock trading app, this morning announced a massive $323 million round led by DST Global.
The Series E financing values the Menlo Park-headquartered business at $7.6 billion, up from its Series D valuation of more than $5 billion.
Ribbit Capital, NEA, Sequoia and Thrive Capital have also participated in the round, which the company says it will use to “keep pursuing [its] mission of democratizing finance for all.”
Robinhood, founded in 2013, has added several new features to its platform in the last year to justify the valuation increase, including its own clearing system, Clearing by Robinhood. The business also acquired a media startup to launch Robinhood Snacks, which provides short tidbits of financial news.
Robinhood has raised more than $860 million in venture capital funding to date.
