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Robinhood Raises $3.4B Amid Growth Surge
The round is the stock trading app's largest raise ever.
Robinhood has raised $3.4 billion total from investors since Jan. 29, infusing the stock trading app with record-setting finances as it races to scale amid recent market tumult.
STORY CONTINUES BELOW
- Existing shareholders ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures and NEA participated in the Ribbit Capital-led round, Robinhood said.
- Apparently, Robinhood's well-heeled backers are looking past last week's blowback from the platform's restriction of certain meme stock trades to the explosion of growth that has occurred at the same time. The round is by far Robinhood's biggest ever.
- CFO Jason Warnick said the cash infusion will help Robinhood "scale to meet the incredible growth we’ve seen and demand for our platform."
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
