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Robinhood rival Public.com raises funds at US$1.2-billion valuation as retail trading booms


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Online brokerage Public.com, which competes with Robinhood, said on Wednesday it had raised $220 million in fresh funds from new and existing investors, lifting its valuation to $1.2 billion.
Investors have doubled down on online brokerages that were at the center of a social media-driven trading frenzy on Wall Street in heavily shorted shares of companies such as GameStop Corp.
Robinhood closed a mammoth $3.4 billion fundraise earlier this year to shore up its finances as clearinghouses asked for more collateral due to heightened volatility. ....

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