Exclusive: Trading App Robinhood Raises $660 Million In Latest Funding Round

The new cash is coming from new and existing investors in Robinhood, including Andreessen Horowitz, Sequoia, DST Global, Ribbit Capital, 9Yards Capital, and D1 Capital Partners.

“We’ve raised an additional $460 million in subsequent closings to our Series G to support our core product and customer experience and new offerings like cash management and recurring investments,” the spokeswoman added.

The fundraising underscores investor appetite to back Robinhood as the company benefits from increased trading activity by retail traders during the COVID-19 lockdown.

Robinhood’s latest fundraise will take the amount of capital it has raised from investors in 2020 to around $1.25 billion, and the total amount of capital secured to more than $2 billion, according to Reuters calculations based upon PitchBook data.