On August 17, Robinhood announced the closure of their Series G funding round, totaling $200 million at $11.2 billion valuation. The company added D1 Capital Partners as a new investor to enable more access to markets while at the same time allowing people to properly educate and inform themselves.
The announcement reads:
“We believe investing at its core is a democratic concept — it allows people to take part in the success of a company or sector they believe in. With our latest round of funding, we’ll continue empowering people in their financial lives and enabling a more democratic financial system.”
The company also wants to expand their learning resources due to the current volatile market conditions, and provide people with the opportunity to learn more about investing, market trends, and finance in general.
Robinhood also stated that the unique visits to their free learning materials have grown 250% since January. With more than 650 articles on Learn, the organization wants to extend their educational campaign while continuing to deliver free, digestible, and easy-to-understand financial news to their 2 million monthly active podcast listeners and 20 million newsletter subscribers.
Furthermore, Robinhood announced that in order to meet customers’ needs, they will be hiring hundreds of new registered financial services representatives in Southlake, Texas and Temple, Arizona, as well as in other locations. With this, the company aims to reduce response times, build more self-service tools, and enhance already-existing products.