Robinhood Raises $13M To Democratize Stock Market With Zero-Commission Trading App

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Half a million people have already signed up for Robinhood‘s unlaunched zero-fee stock trading service. Now the startup has raised $13 million to hire talent to make its app totally secure so it can start adding people from its private beta waitlist. Unlike competitors E*Trade and Scottrade that charge people $7 to $10 per trade, Robinhood doesn’t need to spend money on brick-and-mortar outposts and some fancy castle on Wall Street. Instead, the hope is that the Series A led by Index Ventures will substitute as a source of confidence in Robinhood’s longevity. Robinhood aims to make people comfortable storing money and trading stocks with the app it hopes to publicly launch in early 2015. http://bit.ly/1v6ykbD http://bit.ly/1fJ5yqZ





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