Fenwick & West represented Robinhood, a pioneer of commission-free investing, in its $280 million Series F financing. The financing was led by existing investor Sequoia Capital, with participation from existing and new investors including NEA, Ribbit Capital, 9Yards Capital and Unusual Ventures.
Robinhood will use the new funding to continue to invest in scaling its platform, building new products and accelerating build-out of its operations. More information about the financing can be obtained from Robinhood's announcement.
The Fenwick transaction team included corporate partner Sayre Stevick and associates Lara Foster, Ari Haber, Tina Lee and Adrian Parlow.
Update on July 13, 2020: Fenwick represented Robinhood in raising an additional $320 million in subsequent closings—announced July 13, 2020—bringing the total for the round to $600 million. The new funding comes from new and existing investors, including TSG Consumer Partners and IVP, and brings Robinhood’s post-money valuation to $8.6 billion.