Robinhood, the mobile-first financial brokerage, is leveraging technology to allow users to buys and sell stock without being charged a commission fee. The funding will be used to expand into international markets.
Inspired by the 2011 Occupy Wall Street movement, Vladimir Tenev and Baiju Bhatt founded a no-fee trading app called Robinhood. They wanted to "democratize access to the financial markets." Robinhood launched in December as an iPhone and Apple Watch app. It lets people — primarily first-time investors — buy and sell stocks without being charged commission fees, which usually run between $7 and $10. Unlike regular trading, Robinhood is mobile-first. This cuts out the cost of paying human traders.