DriveWealth provides a cloud-based technology platform that enables fractional equities trading and embedded investing, allowing partners to offer branded investing experiences. Its platform supports embedded investing via mobile to more than 100 partners worldwide, driving customer acquisition, loyalty, retention, and revenue growth. The company intends to use new capital to expand products and services, hire talent, invest in technology innovation, launch self-clearing, and accelerate execution through strategic acquisitions and partnerships. DriveWealth combines consultative support with an industrial-strength platform to help partners integrate market access and investing features. The company strengthened its financial position with a $450M Series D at a $2.85B valuation. DriveWealth is led by founder and CEO Bob Cortright and is based in Chatham, N.J. DriveWealth provides API-based brokerage infrastructure and a developer-first platform that lets partners deliver embedded, real-time dollar-based investing experiences inside their mobile apps. Its technology enables fintechs, digital advisors, and mobile financial services to access the U.S. securities markets and powers partners such as Hatch, Revolut, Stake, and Moneylion across 153 countries. The company reports that its partners opened more accounts in 2Q than E*Trade, Schwab and TD Ameritrade combined, and that 3Q saw a 33% increase over 2Q. In the last 12 months DriveWealth expanded into the HSA space and partnered with Access Softek to serve community banks and credit unions. Leadership says the firm will continue building its technology capabilities to democratize investing and pursue strategic acquisitions. As of the article, DriveWealth has raised $100.8M to date, including a new $56.7M Series C. DriveWealth provides a suite of APIs and cloud-based infrastructure designed to modernize financial services, enabling online brokers, digital advisors and mobile financial services companies to access the U.S. securities market. Its platform supports native investment experiences on partners' mobile applications, including real-time dollar-based investing capabilities. DriveWealth LLC is a FINRA- and SIPC-member licensed carrying and self-clearing broker that delivers digital brokerage solutions to broker-dealers, advisors and online partners worldwide. The company says its cloud infrastructure offers scaling and pricing efficiencies for global partners. DriveWealth's stated mission is to provide low-cost, frictionless access to wealth-building products through modern infrastructure and to reimagine investing for the clients served by its partners. The company announced a $21 million Series B in this round led by Raptor Group, SBI Holdings and Point72 Ventures, reflecting investor support for its growth and product roadmap. DriveWealth Holdings Inc. owns DriveWealth, LLC, a Chatham, NJ–based global online broker-dealer launched in August 2014 by Robert Cortright. The company offers a vertically integrated Brokerage as a Service that lets partners worldwide integrate and offer US stocks, ADRs and ETFs. DriveWealth aims to become a global aggregator of retail investor accounts by providing low-cost access to US equity markets. The business serves foreign brokers, developers and content providers as its primary partners and customers. DriveWealth recently received its first institutional investment and intends to use the funds to expand its global partners and customers as well as its product and service offering. The amount and instrument of the investment were not disclosed in the article.

Total raised

$528M

Funding rounds

4

Latest round

Series D

Latest activity

Aug 2021