Trading app Robinhood seeks advisers for potential IPO: Bloomberg News

(Reuters) – Fintech startup Robinhood Markets Inc has asked banks to pitch for roles in an initial public offering that can happen as soon as the first quarter of 2021, Bloomberg News reported here on Tuesday, citing people familiar with the matter.

The company’s plans could change and it might decide not to pursue an IPO, the report said.

Robinhood did not immediately respond to a Reuters request for comment.

The startup, credited with helping popularize trading among millennials, said here in September it had increased its latest funding round to $660 million, giving it a valuation of $11.7 billion.

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