Google-backed share trading service Robinhood has raised series B funding to support an international expansion that will begin in Australia.
Robinhood, a US-based free-stock trading service backed by internet company Google, secured $50m yesterday in a series B round led by venture capital firm New Enterprise Associates.
Index Ventures, Ribbit Capital, Social Leverage and Vaizra Investments also participated in the round.
Robinhood has built a brokerage service that customers access via a smartphone app, enabling them to manage their portfolios without having to pay for expensive overheads associated with traditional brokerage such as manual account management and physical storefronts.
The…
