Source: Giphy

Robinhood, the no-fee investment app, has raised $363 million in Series D funding at a $5.6 billion post-money valuation.

Why it's a big deal: Because Robinhood doesn't just want to help millennials save money on stock, crypto and options trades. It wants to become a full-fledged consumer finance company, and this is enough cash to help it pursue that goal.

DST Group led, and was joined by Sequoia Capital, Kleiner Perkins, CapitalG and return backers like NEA and Thrive Capital. It has now raised a total of $539 million.

  • DST founder Yuri Milner was included on a U.S. Treasury Department list of Russian oligarchs, but he wasn't among those subsequently sanctioned. Robinhood co-CEO Baiju Bhatt says his company isn't concerned about possible regulatory implications of taking DST's money.

Bottom line: The Silicon Valley company says it now has more than four million brokerage accounts, which is a larger user base than E*Trade (3.7m). It also claims to have transacted over $150 billion in trades.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 12,772,755 — Total deaths: 566,036 — Total recoveries — 7,030,749Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 3,269,531 — Total deaths: 134,898 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. Politics: Trump wears face mask in public for first time.
  4. States: Florida smashes single-day record for new coronavirus cases with over 15,000.
  5. Public health: Trump's coronavirus testing czar says lockdowns in hotspots "should be on the table" — We're losing the war on the coronavirus.
  6. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."
2 hours ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.

Pelosi: Trump is "messing with the health of our children" with push to open schools

House Speaker Nancy Pelosi said on CNN's "State of the Union" Sunday that Education Secretary Betsy DeVos' aggressive push to fully reopen schools this fall is "malfeasance and dereliction of duty," accusing the Trump administration of "messing with the health of our children."

Why it matters: Trump has demanded that schools reopen as part of his efforts to juice the economy by allowing parents to return to work, despite caution from health officials that little is known about how the virus impacts children.