Robinhood Maxed Out $200mn Line of Credit

Digital wealth management fintech Robinhood has made the news for all the wrong reasons lately as they have been suffering outages just as market volatility has jumped; the fintech was also reported to have maxed out their $200mn line of credit during the past two weeks; the company drew its facility from Barclays, Citigroup and JPMorgan Chase during the week of February 24th; the company says they did not draw on the facility because of the outages as they explained the two events were not related; “Any assertion that a draw on our credit line was related to an outage is entirely false,” a Robinhood representative told Business Insider. The decision to borrow “predated and was entirely unrelated to any outage on our platform,” they added. Business Insider

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