Robinhood raises $1B after trading halts to keep its platform running
https://techcrunch.com/2021/01/29/robinhood-raises-1b-after-trading-halts-to-keep-its-platform-running/
After a turbulent week for the stock market and halts to the trading of certain speculative securities including GameStop (GME) and AMC, consumer investing app Robinhood has raised new capital. The new funds total more than $1 billion, with the company telling TechCrunch that they were raised from its existing investor base.
The New York Times reports that the company raised the new equity capital after tapping its credit lines for $500 to $600 million; the company did not answer a question from TechCrunch regarding its credit lines.