- General
- May 24, 2019
- 4 minutes read
Robinhood Reportedly Raising At Least $200 Million Round
image: Robinhood Robinhood is raising at least $200 million in new funding that’ll value the company at between $7 billion…
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| image: Robinhood |
Robinhood is raising at least $200 million in new funding that’ll value the company at between $7 billion – $8 billion according to a report from The Information. This is up from a $5.6 billion valuation May last year. Robinhood has raised $540 million in total funding according to Crunchbase data. Its backers include the likes of DST Global, CapitalG, Iconiq Capital, Kleiner Perkins, NEA, Thrive Capital and Sequoia Capital.
The Information says this funding could be a preliminary to a larger round that could value the company at over $10 billion, but one that’s grounded on the company successfully rolling out new products in coming months. Robinhood is said to be planning a launch in the U.K. having started hiring for multiple positions in the country.
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| image: Robinhood |
Robinhood is known for its app that lets users invest in U.S. stocks and exchange-traded funds without paying commissions. The Palo Alto, California headquartered company also offers Robinhood Gold, a paid service for active investors that supports margin and extended hours trading.
6 million users currently make use of Robinhood’s app.
