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Fintech Startup Robinhood Raises Fresh Funds at $8.3 Billion Valuation
Robinhood Markets Inc said on Monday it has raised $280 million in a funding round that valued the online brokerage at $8.3 billion as it benefits from new signups amid increased market volatility and stay-at-home orders due to the coronavirus.
Fintech startups have been attracting a flood of investments since last year and the pandemic is accelerating the trend as more customers look to pay without contact and use banking services without stepping into branches.
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