Robinhood has big plans, as an IPO is on the horizon

The fast-growing Robinhood trading platform hunts for a CFO, as it looks to prepare an IPO…

The Robinhood cryptocurrency and stock trading platform is set to ramp up further in the coming months, with the news that the company is planning a significant round of fundraising, this time via an initial public offering (IPO).

The platform, which entered the cryptocurrency market in earnest at the start of the year, apparently has some five million people using it for crypto (it can also be used for trading traditional stocks). Its key selling point? Zero fee stock trading, and many have been keen to take that up, even as competition continues to hot up.

And in a new interview with Techcrunch, the CEO of the firm, Baiju Bhatt, has confirmed the IPO news, plus adding that Robinhood is on the search for a CFO.

On top of that, the company is doing important work with regulators. Bhatt has confirmed that Robinhood has been going through audits from the American Securities & Exchange Commission (SEC), as well as the Financial Industry Regulatory Authority (FINRA). It’s doing that to ensure that it gets compliance with the regulations of both, and should it get it, that’s a further significant step forward for the company.

There’s no official timescale for the IPO currently in place, but the short history of the company suggests that it’s not likely to hang around. As we hear more, we’ll let you know.