Commission-free stock and cryptocurrency trading app Robinhood announced that it raised $280 million in Series F funding at an $8.3 billion valuation.
Including this round of funding, Robinhood has now raised a total of over $1 billion.
The company added over 3 million funded accounts this year.
Plus half of new Robinhood customers this year were first-time investors.
“As more people choose Robinhood, we remain focused on continuously improving the experience we provide,” said Robinhood in an announcement.
Robinhood was reportedly considering going public in 2020, but the IPO is likely due to this round of funding and the economic crisis due to the coronavirus pandemic.
Robinhood was founded by Vlad Tenev and Baiju Prafulkumar Bhatt in 2012.