The funding, by means of Roc Nation’s Arrive subsidiary, is the most recent occasion of a star rapper plowing money into Robinhood’s free-to-trade funding platform. The corporate additionally counts Snoop Dogg and Nasir Jones (often known as Nas) amongst its big-time backers.
Robinhood is definitely Arrive’s third funding right into a high-growth startup tech firm. The agency has additionally backed Devialt, a French audio know-how firm, and InSite Purposes, a location-sharing platform that’s planning to launch its companies later this yr.
Along with boatloads of money, which has valued Robinhood at roughly $1.three billion, the San Francisco startup has additionally picked up three million customers buying and selling in each shares and cryptocurrency.
Launched final yr, Arrive was created to accomplice with early-stage startups and supply them with model companies, enterprise growth, advisory and capital companies to extend progress (it’s unclear that this could be all that helpful for Robinhood for the reason that firm raised $176 million).
“ARRIVE was created to leverage our expertise and assets in constructing manufacturers, growing client dealing with companies, managing artists and representing athletes. We’ve opened that diversified, world vary of experience to a brand new vertical: entrepreneurs and their early stage companies” stated Neil Sirni, head of New Ventures at Roc Nation in an announcement on the time of the corporate’s launch.
Arrive stated on the time it could launch a standard enterprise fund to assist firm progress after the seed spherical. The New York-based enterprise agency Major Enterprise Companions and GlassBridge Asset Administration are each advising Arrive on its operations.
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