Robinhood co-CEO Vladimir Tenev. Photo by Noam Galai/Getty Images for TechCrunch, under Creative Commons license

Stock-trading company Robinhood has announced that it’s secured $280 million in Series F funding led by venture capital firm Sequoia Capital, with participation from both new and existing investors including NEA, Ribbit Capital, Unusual Capital, and 9Yards Capital. Robinhood says it’ll put the new funding towards scaling its platform and building out new products. The Series F fund-raise corroborates a last month Bloomberg report that Robinhood was seeking new funding at a valution hovering around $8 billion. That same report said Robinhood’s revenue had amounted to $60 million in March, a roughly year-on-year triple for that month, due to increased trading during the coronavirus pandemic.

With the Series F funding round, Robinhood’s total funding since inception now adds up to about $1.2 billion.