(Reuters) – Robinhood raised one other $2.4 billion from shareholders, simply days after current buyers pumped in $1 billion in funding, the net brokerage stated in a blogpost on Monday.
The spherical was led by Ribbit Capital, with participation from current buyers together with ICONIQ, Andreessen Horowitz, Sequoia, Index Ventures and NEA. https://
The funding comes after Robinhood was strained by excessive volumes of buying and selling final week, when it additionally confronted the anger of consumers, celebrities and politicians for curbing the acquisition of some sizzling shares.
The brokerage, which has change into common with younger buyers for its easy-to-use interface, is on the coronary heart of a mania that kicked off final week following calls by Reddit thread WallStreetBets to commerce sure shares that had been being closely shorted by hedge funds.
Sequoia Capital and Ribbit Capital got here collectively final week to supply the $1 billion funding, in response to a New York Occasions report.
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