US fintech company Robinhood has just raised $280M during a series F fundraising led by Sequoia Capital.
After this new injection of capital, the company's market cap has skyrocketed to $8.3B.
This new fundraising has coincided with a great volatility caused by the consequences of the coronavirus pandemic on economies around the world and the countries' attempts to approve stimulus measures aimed at avoiding a new crisis like 2008's.
The current market situation is benefiting brokers and exchanges. Thus, The Wall Street Journal reported in late April brokers are enjoying a significant increase in activity.
For their part, crypto trading platforms are also seeing how the number of new accounts is surging.
Robinhood has revolutionized the market by offering its users zero-fee trading. Even though the platform has suffered some technical problems this year, so far in 2020 it has registered over 3 million new funded accounts.
According to the platform, it will use these funds to continue working on the improvement and expansion of its services.
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