Online trading company Robinhood now valued at $11.2 bn with new fund backing

Robinhood Financial raised new funding at a valuation of about $11.2 billion, as Dan Sundheim’s D1 Capital Partners poured $200 million into the online trading company. The seven-year-old firm was most recently valued at $8.6 billion during its July funding round, before it posted record trading figures for June. The latest investment and valuation were announced by Robinhood in a blog post on its website. D1’s new investment marks a vote of confidence from a prominent hedge fund investor. It was one of the largest hedge fund launches of that year, and he was among an early crop of investors to invest in both publicly traded and privately held stocks. Robinhood recently blocked access to information about the individual stock trades that users were flocking to. The platform has been seeking to attract users to its other offerings, such as Robinhood Snacks, its newsletter and podcast – which now has over 2 million active monthly listeners, according to a blog post.