Robinhood, which offers a free trading service, confirmed a new funding round on Thursday that quadruples its valuation to $5.6 billion and makes it one of the most richly-valued startups in the country. The service attracted more than 4 million users, who can take positions in individual stocks, as well as mutual funds, ETFs, options and cryptocurrencies. Since inception, the company says that users have carried out $150 billion in transactions and saved more than $1 billion in fees. It was previously valued at $1.3 billion after raising $110 million in a 2017 funding round also led by DST Global. The funding round was first reported by The Wall Street Journal in March.

Source: Forbes May 10, 2018 13:03 UTC