Robinhood Financial LLC
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Robinhood Financial LLC - overview
Established
2013
Location
Menlo Park, CA, US
Primary Industry
Financial Services
About
Based in California, US, Robinhood Financial LLC was founded in 2013 by co-founders Mr. Baiju Bhatt and Mr. Vlad Tenev. The company operates as a provider of an online stock brokerage platform for traders and investors.
The company is a wholly-owned subsidiary of Robinhood Markets, Inc. The company's app was first released in the AppStore in December 2014, and it was then officially launched three months after it was first released. In July 2021, Robinhood Financial LLC raised USD 2. 09 billion in an IPO, selling 55 million shares at USD 38 per share on the NASDAQ.
The company's platforms enable users to invest in stocks, exchange-traded funds (ETFs), cryptocurrencies, and other options without paying commission fees. The company also offers Robinhood Gold that allows users to access research reports, trade on margin, make bigger instant deposits, access tools, price movement notifications, and receive customized investment news to help users find the right moment for investments. The company's revenue is generated primarily by three sources, such as interest on client cash balances, selling order information to high-frequency traders, and margin lending. The company plans to enhance its product to give more people access to the financial system.
It also plans to be listed on the NASDAQ under the symbol HOOD.
Current Investors
Index Ventures, New Enterprise Associates, Greenoaks Capital
Primary Industry
Financial Services
Sub Industries
Brokerages, e-Financial, Investment Banking, Web Applications, Analytics & Performance Software, Accounting/Finance Software
Website
www.robinhood.com
Verticals
Blockchain, FinTech, FinTech, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
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