Financial technology and trading company Robinhood Markets Inc held its latest financing round from which it fetched a total of $660 million from investors. The news was announced by the company’s spokeswoman who further said the latest financing round gave the company a market valuation of $11.7 billion.
Robinhood is commonly associated with the millennial generation which prefers to use its trading platform. According to the spokewoman, the financing was an extension of the Series G round announced last month in which D1 Capital Partners pumped in $200 million in the company.
“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,” said the spokeswoman.
Cumulatively, Robinhood has now raised capital around $2 billion in 2020, $1.25 billion of this has been contributed by investors only.
