• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
FinanceRobinhood

On the back of a multimillion dollar round, Robinhood raises $320 million more to set a $8.6 billion valuation

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
July 13, 2020, 1:13 PM ET
Add Fortune on Google for similar content.

Investors are adding hundreds of millions more to Robinhood’s coffers as the pandemic ushers in new customers.

On Monday, the stock-trading app announced that it had raised yet another $320 million from new and existing investors, bumping its valuation up to $8.6 billion. New investors include TSG Consumer Partners and IVP.

The fresh funding comes via subsequent closings of a $280 million Series F round led by Sequoia Capital which valued the firm at $8.3 billion in May. At the time, co-CEO Vlad Tenev noted that Robinhood experienced a surge as new investors flocked to the platform amid the market’s coronavirus-induced ups and downs: Robinhood added 3 million funded accounts between the start of the year and early May, he said.

While Robinhood’s team declined to comment on the most recent raise, two months later, the app’s name is perhaps more visible than ever as the pandemic has led to strange moves in the public markets in part thanks to retail investors that were once seen as marginal and unlikely to shift the market.

For instance: Shares of Hertz, the car-rental company, soared in June after it filed for Chapter 11 protection in June, a move that many attributed to nonprofessional players willing to take more iffy trades, including those on Robinhood. It was hardly a move a typical investment advisor would have condoned, but some retail investors appeared to make quite a bit off of the bet.

Now Robinhood is confronting a core issue as it grows: What level of freedom does it give to its pool of inexperienced traders, and what guardrails does it put in place? The platform grew explosively in part by pitching “investing for everyone”—yet the stock market is not common knowledge for all.

A 20-year-old Robinhood trader by the name of Alex Kearns committed suicide in June, citing massive trading debts and a negative trading balance of over $730,000 wracked up through options trading on the platform. While the suicide ultimately appeared to be the result of a terrible misunderstanding over the amount of Kearns’ actual debt, Tenev and Co-CEO Baiju Bhatt wrote in light of the death that they were “considering additional criteria and education for customers” seeking certain kinds of more complex options trading, and planned to add additional educational content for customers.

“It is not lost upon us that our company and our service have become synonymous with retail investing in America, and that this has led to millions of new investors making their first investments through Robinhood,” the duo wrote in June. “We recognize this profound responsibility, and we don’t take it lightly.”

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

family
CommentaryColleges and Universities
More than 3 million college students are raising kids. Most won’t graduate
By Enyi OkebugwuJune 28, 2026
2 hours ago
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
Big TechChips
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
By Alexei OreskovicJune 28, 2026
2 hours ago
Young real estate agent with clients at house
SuccessJobs
LinkedIn says real estate is one of the hottest industries for entry-level workers—One Gen Z sales agent made $75K his first year with no experience
By Emma BurleighJune 28, 2026
3 hours ago
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
Middle EastIran
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
By Jason MaJune 27, 2026
12 hours ago
The contrarian view for Fed rate cuts: Payrolls will weaken, inflation will plunge, and Kevin Warsh was ‘largely performative’ in his hawkishness
EconomyFederal Reserve
The contrarian view for Fed rate cuts: Payrolls will weaken, inflation will plunge, and Kevin Warsh was ‘largely performative’ in his hawkishness
By Jason MaJune 27, 2026
13 hours ago
Atlanta Fed chief selection delay gives Warsh a say
BankingFederal Reserve
Atlanta Fed chief selection delay gives Warsh a say
By Jonnelle Marte, Saleha Mohsin and BloombergJune 27, 2026
21 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
3 days ago
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
AI
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
By Sebastian HerreraJune 27, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
4 days ago
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
Europe
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
By Jason MaJune 27, 2026
17 hours ago
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
Middle East
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
By Jason MaJune 27, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.