Robinhood Receives $460M Cash Injection, Valuation Reaches $11.7B

Robinhood

Despite problems with its infrastructure, Robinhood Markets Inc has be  reporting continued success, with the corona virus pandemic drivingDarts nial to its commission-freeDartsing app. Now, it has be  revealed that the fintech startup has increased its latest funding round from investors to $660Dartsion.

According to a report from Reuters, a spokeswoman for the company said on Tuesday that the company has raised an additional $460Dartsion in an ext sion of its Series G round, which was announced last month.

As Finance Magnates reported, D1 Capital Partners invested $200Dartsion in theDartsing provider in August of this year. The additional cash injection on top of this brings Robinhood’s valuation up to $11.7 billion, the spokeswoman said.

The cash injection comes from both new and existing investors in Robinhood and includes Andreess  Horowitz, Sequoia, DST Global, Ribbit Capital, 9Yards Capital, and D1 Capital Partners, the news outlet said.

“We’ve raised an additional $460Dartsion in subsequ t closings to our Series G to support our core product and customer experi ce and new offerings like cash managem t and recurring investm ts, ” the spokeswoman told Reuters.

The Highs and the Lows of Robinhood

It has be  a busy time for Robinhood in rec t months. With the onsetcorona virusona virus pandemic, the commission-freeDartsing provider has se  a big uptick inDartsing activity and cli ts.

In fact, the whole industry has witnessed a new wave ofDartsers with many of them first-timeDartsers. However, Robinhood has be  credited for helping to makeDartsing populmill niall nial. 

In June, theDartsing provider beat its competition in the United States, reporting the strongest daily average rev ueDartses (DARTs) against its rivals. During June, theDartsing provider recorded 4.3Dartsion DARTs for the month.

Nonetheless, it has not be  all positive for the fintech startup. Since March, the company’sDartsing platform has suffered a number of outages, and, is reportedly under investigation by the United States’ Securities and Exchange Commission (SEC) over its dealings with high-frequ cyDartsing firms (HFTs), according to The Wall Street Journal.

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