Robinhood raises additional $320 mn, bringing post-money valuation to $8.6bn

By Pavithra R

Robinhood, a California based financial services company has announced that the company has raised an additional $320 million in subsequent closings, bringing its total Series F funding to $600 million.

The funding round saw participation from new and existing investors, including TSG Consumer Partners and IVP, and brought the firm’s post-money valuation to $8.6 billion.

The blog post said “Amid challenging times and market volatility, we’re humbled that people are turning to Robinhood to participate in the markets and build their financial future. We added more than three million funded accounts so far this year, and we’re grateful for the opportunity to serve each customer. We’re also proud to have built a platform that empowers people: Half of new Robinhood customers this year were first-time investors,”

Recently, Robinhood secured $280 million Series F funding at an $8.3B valuation.

Founded in 2013, Robinhood Financial makes it possible to make unlimited commission-free trades in stocks, funds, ETFs, options and cryptocurrencies. Its cash management product helps users to earn 0.30% APY* on uninvested cash and to gain flexibility with a brokerage account. Its crypto helps to tap into the cryptocurrency market to buy, HODL, and sell Bitcoin, Ethereum, Dogecoin, and more, 24/7. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services and is not a member of FINRA or SIPC.