Trading FinTech Robinhood has raised $320mn in new funding, it announced on Monday.
In Brief:
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The company is now valued at $8.6bn.
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The funding comes from new and existing investors.
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It has now raised $600mn in total.
What does this mean?
As those consumers who have not been financially impacted by Covid-19 are staying at home more, many are looking to trading and investing as a new way to manage their money – coupled with a surge in the use of digital platforms, Robinhood has benefitted from this. It’s thought the latest fundraise might come ahead of an IPO.
