Zero-Fee Stock Trading App Robinhood Nabs $50M From NEA To Go Global

“Robinhood is swiftly fulfilling its mission to steal commission charges from online brokerages for the rich, and give access to the stock market to the poor” Best statement I have heard in ten years.

TechCrunch

In case you thought paying $7 to $10 to trade a stock in the US was bad, it costs $65 in Australia. So now that its zero-fee stock trading app is thriving stateside with hundreds of thousands of users, Robinhood is planning to go international, starting in Australia. A $50 million Series B cash infusion from NEA will fuel that expansion, as well as hiring and development of Robinhood’s first monetization feature.

“Bringing the largest VC firm in history into the round is very confidence-inspiring for customers”, co-founder Vlad Tenev tells me. With 25% being first time traders, Robinhood’s users have transacted over $500 million on the app to save $12 million in fees to date.

Stock Trades For All

Robinhood is swiftly fulfilling its mission to steal commission charges from online brokerages for the rich, and give access to the stock market to the poor. The company was founded…

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