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Robinhood Raises Another $2.4 Billion, Eases Trading Curbs

  • Latest round led by Ribbit also includes Iconiq, Sequoia, NEA
  • CFO says funding will help firm amid its ‘incredible growth’
Bloomberg business news
Robinhood Raises Another $2.4 Billion From Investors
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Robinhood Markets’ biggest backers are plowing money into the beleaguered online brokerage at an unprecedented pace.

Investors led by Ribbit Capital have poured $3.4 billion into the firm in a matter of days, including $2.4 billion announced Monday. The cash infusions come as Robinhood grapples with outraged customers, increased scrutiny from Washington and questions about its plans for an initial public offering.