Robinhood has raised another $3.4 billion in a round led by Ribbit Capital and other investors, including ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA, the company announced on Monday. Previously in January, Robinhood also raised $1 billion.
The company says the last funding round is "a strong sign of confidence from investors" that will help Robinhood to continue to serve people.
"We are witnessing a movement of everyday people taking control of their own financial futures, many investing for the first time through Robinhood," Robinhood said in the announcement.
The funding round comes shortly after Robinhood faced with a high volatility on markets initiated by Reddit traders, which made the company to suspend trading with overhyped stocks like GameStop. Later, the US online broker also restricted access to cryptocurrencies.
After Robinhood faced unprecedented market activity, the company immediately borrowed several hundred million dollars from several financial institutions to continue operating. The lenders — according to Bloomberg — included JPMorgan and Goldman Sachs.
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