Robinhood last night, the American fintech unicorn that provides free securities trading services to consumers via an app, announced that it has raised an additional $ 460 million in its previous G series. That round is now worth $ 660 million with a post valuation. -money of $ 11.7 billion.
A little over a month ago Robinhood announced it had raised $ 200 million of Series G, bringing its valuation to $ 11.2 billion at the time.
The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.The company had already raised a two-part F Series, worth $ 600 million earlier this year, bringing the total capital raised well above $ 1 billion for the year.
But Robinhood isn't alone in publishing such epic fundraising numbers.
American neobank Chime rode the general savings and investment boom induced by the pandemic, raising a streak of $ 485 million just days ago. That round came less than a year after Chime lifted a giant E Series last December.
Two different American fintechs Each giant raised more than $ 1 billion in less than a year. This is precisely the undertaking. This morning, as a review for both of us, we'll look at what we know about each company's recent growth, as these metrics should help us understand why the two former startups are worth so much money.
Growth
Let's start with Chime, which grew in December of 2019. During that time, a series of stories were written about the company that included estimates of its revenue scale for the year:
The CNBC number was the last to be reported, meaning it was probably the most accurate. But each included a lot of growth. The $ 200 million revenue figure was still quadrupled from Chime's 2018 result, according to Forbes' own story.
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