Robinhood Markets is entering the final stages of a funding round at a valuation between $7 and $8 billion, as reported by The Information.
Sources also told The Information that an even larger funding round may be in the works. Robinhood has reportedly discussed seeking another round with a $10 billion valuation.
Last year, the company completed a $363 million funding round that raised its valuation to $5.6 billion.
The company is known for its stock trading app, which began offering bitcoin and ethereum tracking in February of 2018. The company has seen growth with its expansion in the cryptocurrency market since its founding as an equal access-focused brokerage service.
Last week, the company’s crypto app expanded to the New York market after obtaining a BitLicense in January.