Robinhood in Talks to Raise at Least $200 Million at a Valuation North of $7 Billion

Robinhood, the popular commission-free trading app for stocks, options and cryptocurrencies, is reportedly gearing up to raise more than $200 million.

According to a recent report by Bloomberg that cites insiders familiar with the matter, Robinhood is looking to raise the money at a likely valuation between $7-8 billion. However, the insiders note that the talks are ongoing and this valuation could jump as high as $10 billion.

This news comes roughly a year after Robinhood closed a Series D financing led by DST Global, raising $363 million at a $5.6 billion valuation. The company has made major strides during this period, especially with its cryptocurrency offerings.

Robinhood also recently acquired MarketSnacks, a popular financial news podcast and newsletter by Jack Kramer and Nick Martell. The startup’s first acquisition came shortly after the company launched Robinhood Securities, a new clearing system built from scratch.

Moving forward, Robinhood’s website indicates that ‘cash management’ will soon be joining the platform’s other features.