Robinhood Valued at $11.2 Billion With Sundheim Fund Backing (1)

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. It revealed daily average revenue trades of 4.31 million for the month, greater than any of its publicly traded rivals. The latest investment and valuation were announced by Robinhood in a blog post on its website.

Robinhood’s surge during the Covid-19 pandemic has garnered both fascination and criticism from Wall ...