Robinhood Lenders Poised for 43% Windfall After Rescue

Ribbit, Iconic among investors lending the firm $3.5 billion
The notes will automatically convert into class A shares

WATCH: Robinhood Markets filed publicly for an initial public offering, disclosing it became profitable last year, in one of the most high-profile upcoming listings of the year. (Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Tom Maloney

July 1, 2021 at 8:35 PM UTC

Updated on

July 1, 2021 at 9:17 PM UTC

This article is for subscribers only.

Robinhood Markets Inc. faced a crisis at the start of the year when hordes of its customers bid up volatile shares of companies including GameStop Corp., causing a jump in collateral requirements.

In response, the online trading platform raised about $3.5 billion from investors, including Ribbit Capital, Iconiq, New Enterprise Associates, Index Ventures and Andreessen Horowitz.