Popular stock and cryptocurrency trading platform Robinhood is launching a fundraising round that would value them at $8.2 billion.
Robinhood Going From Strength to Strength
Austin, Texas-based crowdfunding platform Microventures have been offered a stake in Robinhood’s next round. Having raised funds through the platform previously, Robinhood is seeking to raise funds as part of a Series F raise that would value the company at $8.2 billion.
Its July 2019 Series E raise, which included investments from DST Global, Ribbit Capital, NEA, Sequoia, and Thrive Capital, garnered the commission-free trading app $323 million — crypto’s biggest for the year. Its valuation at the time was $7.6 billion.
No Stopping the Consumer Trading App
The offering reveals FINRA’s fining of the company on Dec. 19th for $1.25 million for violations related to the firm’s best execution and order routing practices during October 2016 to November 2017.
It also suffered some recent technical problems in November, allowing…
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Author: Paul de Havilland