Robinhood raises another $320M for $8.6B valuation
Robinhood, a mobile stock and crypto trading platform, has raised another $320 million in part of its Series F round of funding, for a total of $600 million raised in the round and a post-money valuation of $8.6 billion, according to an amended blogpost.
The most recent funding was led by a group of new and existing investors, including TSG Consumer Partners and IVP. The initial $280 million announced in May was led by existing investor Sequoia Capital and valued the company at $8.3 billion.
The company has bounced back nicely from a series of trading glitches dating back to March when the COVID-19 outbreak set off several weeks of wild market swings and overloaded the system.
The company has made a number of investments to address its infrastructure issues in recent months.