The platform for trading stocks and crypto active assets Robinhood announced the completion of the next round of financing, under which it received $ 323 million. The total capitalization of the company reached $ 7.6 billion.
The largest share in this round of financing was received from DST Global. Investments were also received from Ribbit Capital, Thrive Capital, NEA and Sequoia. The funds will be used to expand the business.
“Since May of last year, we created our own clearing system, launched the project Robinhood Gold, purchased the Robinhood Snack, which provides users with reliable financial news. We use the investment to achieve our goal and ensure access to the financial system for all, ”
in the Robinhood blog.
Cryptocurrency trading on the Robinhood platform was launched in January 2018 and since then the site has gained access to a large number of coins and futures related to cryptocurrency. In addition, the company provides the ability to trade multiple cryptocurrencies in 20 US states.
Earlier it was reported that in the current round of financing it is planned to raise at least $ 200 million, but in a certain situation the company’s capitalization may exceed $ 10 billion. As you can see, this mark has not been reached, but the current capitalization of $ 7.6 billion also commands respect.