Robinhood, the mobile-first financial brokerage, is leveraging technology to allow users to buys and sell stock without being charged a commission fee. The funding will be used to double its team, launch an Android app, and expand into international markets. This Sandwich video does a great job at explaining how Robinhood works.
On Thursday, Robinhood announced the company had raised a $50 million round led by NEA. Vaizra Investments joined the round with existing investors Index Ventures, Social Leverage, and Ribbit Capital, bringing Robinhood's total funding to date to $66 million. Previous investors in the company include Snoop Dogg and Marc Andreessen.