One of the primary considerations of users before venturing into trading is the requirement to monitor their investment portfolios on a regular basis.
This means that the investor should set an allocated time to buy and sell stocks. Robinhood created a new feature targeted to address that.
The financial services firm launches “Recurring Investments.” This will help users schedule their daily, weekly, and monthly investments into stocks through its app.
This helps clients make repetitive investments using a streamlined process.
During the announcement, the company said that the initiative is geared towards helping investors grow their investment in stocks and exchange-traded funds through automation.
This targets to especially help its main niche, the millennials, and novice retail traders, letting them skip the bottlenecks with just one tap.
The initiative could also propel the diversification of portfolios without them having to continually monitor their screens.
In recent months, the company recorded an unprecedented surge in retail trading. Especially as consumers flee to trading stocks and venturing to crypto in the pandemic’s early onset.
Robinhood Re-evaluated at $12 Billion
In August, the modern technology firm launched a series of high-rolling funding rounds. As a result, raising its market valuation to $12 billion, approximately $4 billion higher than its value in 2019.
The latest Series G funding secured a $660 million push from new and existing investors. Those of which include names like Sequoia, Andreesen Horowitz, and DST Global, among others.
This is an extension of the first batch of fresh cash stimulation from D1 Capital Partners, amounting to $200 million.
The new batch of financial cushion is aimed to make the company’s one-stop-shop services better.
The “Recurring Investment” feature is an example that the firm exhausts its resources to carve its unique place in the financial services industry.
Along with Recurring Investments, Robinhood also introduced its Dividend Investment Plan. Thus, allowing users to automatically reinvest dividends earned from stocks and ETFs.
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