In line with a recent ‘report‘ published by ‘Bloomberg’, renowned U.S. based stock and crypto-currency trading app ‘Robinhood’ is set to raise around $200 Mln in an exceedingly new funding round.
According to the report, an anonymous source familiar with the matter told the outlet regarding the company’s plans to raise additional funding. Moreover, Bloomberg reports that this funding round would increase the firm’s worth to between $7 Bln and $8 Bln, but these details could be amended later.
Other people aware of the matter conjointly told Bloomberg that the new funds come from the existing investors, all of whom asked not to be identified while to keep their information private. As these funding talks are reportedly ongoing, an another funding round might increase the company’s worth to $10 Bln, but the numbers are subjected to vary till this deal is closed.
As ‘reported‘ earlier this month, Robinhood officially launched its crypto-currency trading app in New-York, following the acquisition of a BitLicense by the New York’s regulatory authority DFS [Department of Financial Services] earlier in the month of Jan. this year, Robinhood now permits New York users to trade in 7 major crypto assets with no commission fee employing its Crypto platform.