Robinhood reportedly seeks over $7 billion valuation in latest funding round

Startups • May 24, 2019, 5:03PM EDT
UPDATED: May 25, 2019, 9:19AM EDT
The Block

Robinhood Markets is entering the final stages of a funding round at a valuation between $7 and $8 billion, as reported by The Information.

Sources also told The Information that an even larger funding round may be in the works. Robinhood has reportedly discussed seeking another round with a $10 billion valuation.

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Last year, the company completed a $363 million funding round that raised its valuation to $5.6 billion.

The company is known for its stock trading app, which began offering bitcoin and ethereum tracking in February of 2018. The company has seen growth with its expansion in the cryptocurrency market since its founding as an equal access-focused brokerage service.

Last week, the company’s crypto app expanded to the New York market after obtaining a BitLicense in January. 

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.