Citadel Securities valued at $22 bln after Sequoia, Paradigm take stake
The funding round was led by Sequoia.
The two-decade old company provides trading services to asset managers, banks, broker-dealers and hedge funds. Its institutional business serves over 1,600 clients.
The
Citadel Securities was subjected to a close scrutiny from U.S. lawmakers and regulators, after Robinhood Markets Inc (HOOD) and several other brokers restricted trading in shares of GameStop Corp (GME) in January last year.
The restrictions, which drew the ire of some retail
investors, followed a stunning rally that sparked a "short
squeeze", leading to billions of dollars in losses for
Citadel, the
Citadel Securities has denied any involvement in the decision made by the brokers.
The company has a presence in over 50 countries, and plans
to use the latest capital to expand globally.
(Reporting by