Trading App Robinhood Set to Raise at Least $200 Million Report

United States-based inventory and crypto buying and selling app Robinhood is about to lift a minimum of $200 million in a brand new investment spherical, Bloomberg reported on Would possibly 24.

In keeping with the record, an unspecified supply conversant in the subject advised the opening concerning the corporate’s plans to lift additional investment. Additionally, Bloomberg stories that the spherical would build up the company’s worth to between $7 billion and $eight billion, however that the main points may trade.

People conversant in the subject additionally advised Bloomberg that the brand new price range come from current buyers, all of whom requested to not be known and to stay the main points non-public. Whilst the investment talks are reportedly ongoing, an extra investment spherical may build up the corporate’s price to $10 billion, however the numbers are matter to modify till the deal is closed.

Robinhood, which permits for zero-fee inventory buying and selling, first offered bitcoin (BTC) and ether (ETH) buying and selling in January remaining 12 months.

As Cointelegraph reported previous this week, Robinhood has formally introduced its crypto buying and selling app in New York following the acquisition of a BitLicense by means of the New York State Division of Monetary Services and products in January 2019.

Additionally right through this week, the brand new April 2019 Change Assessment from crypto knowledge supplier Cryptocompare printed that centralized cryptocurrency exchanges noticed a significant uptick in industry quantity this April.

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