Finance

Robinhood announces another mega round, valuation soars to $11.2B

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In this photo illustration a Robinhood Markets logo seen displayed on a smartphone.

Rafael Henrique | SOPA Images | LightRocket via Getty Images

Venture capital investors are betting big on Robinhood during this pandemic-plagued year as people stuck at home, especially younger investors, jump into trading a stock market that’s experienced its fastest bear market and recovery in Wall Street history.

The trading start-up announced a $200 million, Series G funding round on Monday — its third major investment in just five months. The new cash injection boosts Robinhood’s valuation to $11.2 billion, an increase of nearly $3 billion. 

The latest investment comes from a new backer, New…



Source cnbc.com

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