Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Robinhood Files To Go Public
Stock-trading app Robinhood filed its S-1 with the Securities and Exchange Commission on Thursday, revealing $959 million in revenue in 2020, up 245 percent year-over-year. The company also turned a profit in 2020, generating $7 million in net income after incurring $107 million in net losses in 2019. Most recently, the company reported having 17.7 million monthly active users and $81 billion under custody. Among the largest shareholders in the company are DST Global, Index Ventures, New Enterprise Associates, and Ribbit Capital.
The S-1 filing comes one day after the Financial Industry Regulatory Association fined Robinhood a record $70 million for what it said was misleading information given to customers and harm suffered by customers who were affected by system outages in March 2020.
-Sophia Kunthara
Mercado Bitcoin Raises $200M
Brazil-based Mercado Bitcoin, a leading cryptocurrency exchange platform in Latin America, raised $200 million in a funding round led by the SoftBank Latin America Fund.
Founded in 2013, the company says it is used by more than 2 million customers. The round reportedly values Mercado Bitcoin’s parent company at $2.1 billion.
— Joanna Glasner
E-commerce
Rohlik lands $119M for grocery delivery: Rohlik, a Czech startup offering online grocery deliveries, raised 100 million euros (US$119 million) in a funding round led by Index Ventures. The financing sets a valuation of around $1.19 billion for the seven-year-old company, which operates in several European countries and is pushing to expand further in the region. The round comes just three months after Rohlik closed on a $226 million round.
— Joanna Glasner
Fintech
Brazil’s Zoop fills up with $34M round: Zoop, a Brazil-based payments and financial services startup, raised $34 million in funding led by the country’s mobile commerce platform, Movile. The latest deal includes new capital and the acquisition of secondary shares from current investors, per a company announcement, and marks Movile’s third investment in Zoop since 2018. Zoop said the new funding will be used for expansion. It processes more than $4 billion in payments last year and grew 150 percent year-over-year, it said. The Rio De Janeiro-based company offers B2B payments and financial services including a banking-as-a-service white-label platform.
All told, more than $7 billion has been invested into Latin American financial services companies since 2016, according to Crunchbase data. Annual investment dollars have also grown since 2018, rising to $2 billion in 2020. Dollars invested in the sector in 2021 have already hit that total.
— Marlize van Romburgh
Enterprise software
Moveworks raises $200M Series C at $2.1B valuation: Mountain View, California-based Moveworks closed a $200 million Series C led by Tiger Global and Alkeon Capital, with participation from existing investors Lightspeed Venture Partners, Sapphire Ventures, Bain Capital, ICONIQ Growth and Kleiner Perkins. The round values the company at $2.1 billion.
Moveworks has developed an AI-powered platform to help with employee issues ranging from HR questions to IT tickets. Founded in 2016, the company has raised $315 million to date.
— Chris Metinko
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