Robinhood Eyes Raising $1 Billion More of Debt, Reuters Says
- Fresh funds would be separate from $3.4 billion already raised
- Company told investors it needs funds for collateral with DTCC
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Robinhood Markets has had discussions with banks about raising another $1 billion of debt as the stock brokerage app grapples to keep filling orders amid a Reddit-fueled trading mania focused on heavily shorted stocks, Reuters reported.
Any fresh capital would be separate from the $3.4 billion that’s been raised by the firm in the past few days, including $2.4 billion announced Monday, the news organization reported, citing people that it didn’t name.