Since last July, about 28 million consumers have opted to finance their phone rather than go the subsidized route.
New funds come eight months after the 4-year-old social-sharing startup closed a $225 million round.
Led by a list of prominent VCs, the new round of funding gives the 4-year-old company a valuation of $1.75 billion.
The company's venture round will be led by DST Global, according to Recode's Kara Swisher. Other VCs, including Google Ventures and Shasta Ventures, will also join the round.
For a lot of people during this time of year, "managing finances" really means attempting to not go broke. In this Tech Minute, CNET's Kara Tsuboi helps you take control of your finances in a more tech savvy way with apps that can track your spending and even make budget recommendations.
The DIY mobile network is now selling a range of 20 phones -- and you can borrow from other GiffGaffers to pay for them.
The site now displays a list of your chosen stocks in the upper left so you can easily keep track of them.
You can now follow specific stocks to stay abreast of breaking news and the latest financial data.
Chinese e-commerce giant contributed most of the funds in the deal, which values the e-commerce startup at $600 million, according to The Wall Street Journal.
After the struggling smartphone maker threw in the towel and announced its plans to go private, the man behind the buyout proposal, Prem Watsa, says he's confident the deal will succeed.