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Today, though, it’s making waves for different reasons. Stock markets around the world roil and churn as investors grapple with the implications of a particularly virulent and aggressive respiratory virus formally known as SARS-CoV-2, which originated in China but is now rippling across the planet.

This is the sort of moment some risk-loving swing traders live for, the sort of moment others dread, the sort of moment where some people want to watch their stocks and make some money moves. On Monday, , 10.8 billion shares traded hands, 50 percent higher than the 50-day moving average.

None of those shares were traded on Robinhood, because Robinhood has been in the midst of a prolonged service outage that stretched into a second day.

On Tuesday morning, stated that it was experiencing a system-wide outage affecting all facets of its service except for market data and dividends. During this time, I attempted to sign up for a Robinhood account for testing purposes. I succeeded in entering my information and creating the account, but was faced with a series of error messages when I tried to hook up my bank account and perform other functions on the company’s mobile application.

As of about 11 AM Central Time on Tuesday, Robinhood’s status page indicates that all systems are operational with the exception of its email support system, which had been experiencing reliability issues since Monday morning.

The company said it will work with customers “on a case-by-case basis” and possibly offer compensation or other forms of restitution to people whose trading accounts were affected by the company’s system outage.

Robinhood was one of several companies rumored to seek IPOs in 2020. With the reputational damage and the as-yet unknown costs stemming from its early March outage, its path to public markets now looks decidedly more uphill.

According to Crunchbase data, Robinhood has raised from investors including , , and .

Robinhood was valued at $7.6 billion in its Series E round, which netted the company $373 million over two tranches. Crunchbase News covered the first $323 million close in late July 2019, and the company to extend its Series E round at the end of October 2019.

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The company, which was founded in 2015, is something like a new-age bank: Users can create accounts in the Revolut app and deposit and send money with it. 

Revolut wants to bring in 100 million customers in the next five years and expand outside of Europe, CEO told TV on Tuesday.

The new round brings Revolut’s total funding to about , according to Crunchbase. Its last valuation was $1.5 billion, but with its new $5.5 billion price tag, it’s tied with Swedish payment installment startup for the title of Europe’s most valuable fintech startup, according to .

led the new round, and the company is also backed by investors like , and. It last raised a $250 million Series C, led by DST Global, in April 2018. 

Fintech startups are certainly hot right now–they’re getting plenty of funding and a couple have seen high profile exits. announced plans to acquire for $5.3 billion last month, and just yesterday confirmed rumors that it would be acquired by for $7.1 billion.

Revolut has more than 10 million customers and has processed more than 350 million transactions, according to the company’s website.

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Founded in 2015, the Ohio-based startup brands itself as the “modern alternative to legacy [auto insurance carriers].” It will use the new capital to continue product innovation and build upon growth strategy.

Our late stage reporter broke down how Root works for us back in August, and you can all those details here. As a quick recap, however,  Root uses your smartphone to see how well you drive, measuring movements like braking, route regularity, and the speed at which you turn to see if you’re a safe driver. This differs from traditional insurance companies which take into account your age, location, and the distance you’re driving to determine how much you should pay for car insurance.

Root claims that its method is up to 52 percent cheaper than traditional insurance.

The company says it wrote more than $187 million in insurance premiums in the first six months of 2019, 824 percent growth over the same period in 2018. Additionally, it has expanded into 29 states.

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