Discount brokerage Robinhood raised $320 million as part of its Series F round, bringing its valuation to $8.6 billion. The company in May raised $280 million as part of the same round, signaling investor confidence in its growth and IPO prospects. 

Why should we care?
With 13 million users, Robinhood is riding a wave of recent consumer interest in savings and investment apps during the pandemic. Its differentiators have been fee-free trades, an expanding product suite, and an easy user interface. Robinhood added 3 million accounts in 2020 alone, most of which are first-time investors. The company recently came under fire for making complex trades too accessible to inexperienced users, circumstances that led to the recent suicide of a 20-year-old customer who saw a negative balance of more than $700,000. The company has since pledged to add more guardrails, but questions loom around whether regulators should step in to protect users.