Last night Robinhood, the American fintech unicorn that supplies free securities trading services to consumers via an app, announced that it raised an extra $460 million in its previously-known Series G. That round is now worth $660 million at an $11.7 billion post-money appraisal.
A little over a month ago Robinhood announced that it had raised a $200 million Series G, bringing its valuation to $11.2 billion at the time.
Robinhood is not alone in posting such legendary fundraising numbers.
American neobank Chime rode the pandemic-induced general savings-and-investing boom, raising a $485 million Series F a couple of days ago. That round came less than a year after Chime had raised a mammoth Series E last December.
2 various American fintech giants each raised more than $1 billion in under a year. That’s rather the feat. Today as a refresher for us both, we’re discussing what we understand about recent growth from each business, as those metrics ought to help us comprehend why the two former start-ups deserve so damn much cash.
We begin with Chime, which raised back in December of 2019. Around that time there were a grip of stories blogged about the business that consisted of quotes of its income scale in the year:
The CNBC number was the last to be reported, indicating that was probably the most precise. Each consisted of lots of growth. The $200 million revenue figure was still a quadrupling compared to Chime’s 2018 result, according to the exact same Forbes story.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.