Robinhood Raises $3.4B Amid Growth Surge

Robinhood has raised $3.4 billion total from investors since Jan. 29, infusing the stock trading app with record-setting finances as it races to scale amid recent market tumult.

• Existing shareholders ICONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures and NEA participated in the Ribbit Capital-led round, Robinhood said.
• Apparently, Robinhood’s well-heeled backers are looking past last week’s blowback from the platform’s restriction of certain meme stock trades to the explosion of growth that has occurred at the same time. The round is by far Robinhood’s biggest ever.
• CFO Jason Warnick said the cash infusion will help Robinhood “scale to meet the incredible growth we’ve seen and demand for our platform.”