The company, which launched in 2013, has ballooned to a $5.6 billion valuation on the heels of a $363 million Series D financing round led by DST Global. The app has also grown to 5 million users, as of today, with more than $150 billion in transaction volume.
But the app, which lets people trade stocks and options for free, is also dabbling in the wondrous world of cryptocurrencies, setting the stage for a potential transition from ‘fun app’ to legitimiate financial institution.
The key to everything here is that Robinhood offered a simple consumer demand: free transactions on financial services. Unlike incumbents E*Trade and Scottrade, there are no trading fees on Robinhood, giving average consumers the chance to dip their toes in the market without any added barriers to entry.
At Disrupt, we’ll ask Bhatt about how Robinhood Crypto is progressing and what the company has in store as we head into next year.
Bhatt joins a wide array of big name speakers, from Dara Khosrowshahi to Reid Hoffman to Kirsten Green. It’s going to be an absolutely terrific show and we sincerely hope to see you there.
Tickets are available here.