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.
- 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."
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.