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Robinhood rival Webull raises new funds at US$1B valuation

Robinhood rival Webull raises new funds at US$1B valuation Bloomberg News, Bloomberg News VIDEO SIGN OUT Webull, the Chinese-owned brokerage that runs one of the fastest-growing retail trading platforms in the U.S., raised US$150 million in a new financing round that gives the startup more firepower to compete with Robinhood Markets. The fundraising valued Webull’s parent company at more than US$1 billion, people familiar with the matter said, asking not to be identified discussing private information. A Webull spokesperson declined to comment. The brokerage, founded by Alibaba Group Holding Ltd. alum Wang Anquan, has benefited from the surge in trading by individual investors as stock prices soar to all-time highs. Webull has positioned itself as the go-to platform for disgruntled users of Robinhood, whose restrictions last month on highly volatile stocks including GameStop Corp. sparked outrage from some customers and drew criticism from politicians.

Robinhood rival Webull grows to $1B valuation | Financial Planning

Robinhood rival Webull raises new funds at $1 billion valuation

A Chinese-Owned Stock Trading App is Quietly Amassing US Users

Chinese-Owned Stock Trading App Is Quietly Amassing US Users The U.S. stock market gyrations of 2020 need no introduction. From the market depths in March, the federal stimulus-funded market rebound, to the meteoric rise of Tesla and recent technology IPOs, the year of COVID-19 has seen a large influx of consumers taking up stock investing. And for these new investors, the platform of choice to trade stocks is Robinhood. While Robinhood initially popularized the commission-free stock trading model and has amassed more than 13 million users, Webull, a little-known competing app, has steadily been taking market share from Robinhood. And an even lesser-known fact is that the company behind the app, Webull Financial LLC, is Chinese-owned.