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September 27 2020

Robinhood managed to raise another $460m

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The stock trading app Robinhood has added $460m to its Series G funding round closing a total of $660 million at an $11.7 billion valuation.

The new cash is coming from new and existing investors in Robinhood, including Andreessen Horowitz, Sequoia, DST Global, Ribbit Capital, 9Yards Capital, and D1 Capital Partners.

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“We’ve raised an additional $460 million in subsequent closings to our Series G to support our core product and customer experience and new offerings like cash management and recurring investments,” Robinhood’s spokeswoman said to Reuters.

During 2020 alone, Robinhood has already raised about $1.25 billion and public listing could be on the horizon for the company.

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However, Robinhood recently cancelled its anticipated UK launch, in which the company gathered more than 25,000 signups on its waitlist.

The reason Robinhood behind that was “strengthening our core business in the US making further investments in our foundational systems”.

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