Robinhood Money elevated new funding at a valuation of about $11.2 billion, as Dan Sundheim’s D1 Capital Companions poured $200 million into the on the web investing corporation.
The 7-year-aged agency was most just lately valued at $8.6 billion throughout its July funding round, prior to it posted record trading figures for June. It disclosed every day normal revenue trades of 4.31 million for the thirty day period, better than any of its publicly traded rivals. The newest investment and valuation have been declared by Robinhood in a web site post on its web-site.
Robinhood’s surge all through the Covid-19 pandemic has garnered each fascination and criticism from Wall Street, with considerations persisting that the system draws in a lot of youthful consumers who several not realize the threats of stock wagers. D1’s new investment marks a vote of self-assurance from a prominent hedge fund investor.
Sundheim was main investment officer at Viking World Traders right before placing out on his have and opening D1 to outside the house investors in 2018. It was one particular of the most significant hedge fund launches of that calendar year, and he was amongst an early crop of traders to devote in the two publicly traded and privately held shares.
Robinhood just lately blocked entry to details about the personal inventory trades that users had been flocking to. It was a greatly watched metric among traders these kinds of as hedge money, which tracked the trades to realize where by an ever-broader array of retail traders ended up heading.
The platform has been in search of to bring in end users to its other choices, these kinds of as Robinhood Treats, its publication and podcast — which now has around 2 million energetic every month listeners, according to a blog publish.
This tale has been posted from a wire agency feed with out modifications to the textual content. Only the headline has been changed.
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