Robinhood Valued At $11.2B After Series G
What Happened: Robinhood, a retail trading platform that offers investors commission-free stock, ETF and options trading and high-yield savings accounts, announced a $200-million Series G funding round Monday at an $11.2-billion valuation that was led by D1 Capital Partners.
Why Does It Matter: “We believe investing at its core is a democratic concept — it allows people to take part in the success of a company or sector they believe in. With our latest round of funding, we’ll continue empowering people in their financial lives and enabling a more democratic financial system,” Robinhood representatives said in a statement.
DailyPay Helps Digitize Payroll
What's The Problem: Payroll is a massive industry with American’s receiving $13 trillion across 3.9 billion paydays. The problem with traditional payroll: it hasn't changed for 30 centuries.
What's The Solution: Founded in 2015, DailyPay is a mid-to-late stage fintech specializing in the employer-employee relationship. The company is a pioneer in the on-demand pay industry and has helped bring the payment experience at organizations like Kroger, McDonald's, Six Flags, Berkshire Hathaway, among others, into the 21st century.
BlockFi Raises $50M Series C
What Happened: On the heels of two other funding rounds in the past 12 months, BlockFi, as part of a vision to expand its ecosystem of customer-centric digital asset solutions, secured funds from Morgan Creek Digital, Winklevoss Capital and Matthew Dellavedova, among others.
What Does It Mean: “With the support from our investors, we’re creating a platform for investors where they aren’t investing in just digital assets anymore—they’re investing in the future, greater financial empowerment and accessibility," said Zac Prince, CEO and Co-Founder, BlockFi.
bitFlyer Launches Exchange Services In Hawaii
What Happened: In partnership with the Hawaii Department of Financial Institutions and Hawaii Technology Development Corporation, Japanese-based bitFlyer launched its services in Hawaii.
What Does It Mean: The launch is one of the first to be approved under the Digital Currency Innovation Lab, a regulatory sandbox that allows digital asset service providers the ability to do business in Hawaii without obtaining state licenses for money transmission.
'A Robinhood For The World': Meet Passfolio
What Happened: Passfolio, an app for commission-free trading of stocks, ETFs, and cryptocurrency in over 170 countries, recently expanded the depth and breadth of its product portfolio.