Palo Alto based Stock Trading app Robinhood has raised $110m in Series C funding led by DST Global. Robinhood Financials is a stock brokerage application that democratizes access to the financial markets. The platform enables its customers to buy and sell U.S. listed stocks and ETFs with zero commission.
Inflection point: Interest from investors really picked up following the launch of its paid service—Robinhood Gold—last year, which currently accounts for half of the trading volume, co-founder Baiju Bhatt told Axios. Rumors of the company's fundraising began to circulate late last year, although Bhatt says this latest round was done about a month ago. International halt: Despite announcing plans to expand internationally a couple of years ago, beginning with Australia, Robinhood reversed course due to regulatory uncertainty and is currently focused on its U.S. market. It even recently pulled out of China, where last year it made its service available to consumers.