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About DriveWealth
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$552.8M
Headquarters
Jersey City, New Jersey
Founded
2012
Overview
DriveWealth provides a financial technology platform that allows various businesses, such as banks and digital wallets, to offer investment and trading services to their customers. Their main product is a set of APIs that partners can use to create both traditional investment processes and new features, like allowing users to invest spare change into fractional shares of stocks. This flexibility sets DriveWealth apart from competitors, as it caters to a wide range of clients looking to enhance their services with investment options. The company's goal is to make investing accessible and integrated into everyday financial activities for consumers.
Simplify's Take
What believers are saying
- DriveWealth's expansion into fixed income and mutual funds broadens its market reach.
- The $450M investment accelerates global expansion and enhances embedded investing technology.
- Partnerships with companies like Papara increase DriveWealth's user base and market presence.
What critics are saying
- Increased competition from fintech startups may erode DriveWealth's market share.
- Regulatory scrutiny on fractional trading could lead to higher compliance costs.
- Reliance on third-party partnerships exposes DriveWealth to operational and financial risks.
What makes DriveWealth unique
- DriveWealth pioneered fractional equities trading, setting it apart in the fintech industry.
- The company offers Brokerage-as-a-Service, enabling seamless integration for financial institutions.
- DriveWealth's API-based platform supports innovative investment techniques like purchase round-ups.
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Funding
Total Funding
$552.8M
Above
Industry Average
Funded Over
4 Rounds
Insight Partners
SoftBank
AccelIndustry standards
Benefits
Insurance – Medical, Dental, Vision, Life, LTD & STD. HSA and FSA options.
Unlimited PTO
401k plan
Flexible working hours and work from home
Continuing education and conferences reimbursement
Fitness/Wellbeing reimbursement
Home Office stipend
Lunch program, snacks and beverages available in the office
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↓ -1%DriveWealth launches fixed income and mutual funds trading worldwide - PR newswire.
NEW YORK-(BUSINESS WIRE)- DriveWealth, a leading financial technology platform providing Brokerage-as-a-Service, today announced the expansion of its overnight trading capabilities through a collaboration with OTC Markets Group Inc. (OTCQX: OTCM), an operator of regulated markets for U.S. equity securities.
New Jersey-based DriveWealth won Best of Show at FinovateEurope 2016 in London.
DriveWealth Unicorn News - January 22, 2025 DriveWealth has partnered with Moment Technology Inc. to expand its fixed-income asset class offerings, making the bond market more accessible to retail investors by removing high investment thresholds.
Sharegain has partnered with financial technology platform DriveWealth to open up new opportunities in securities lending for online brokers globally.
DriveWealth is Hiring for 13 Jobs on Simplify!
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About DriveWealth
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$552.8M
Headquarters
Jersey City, New Jersey
Founded
2012
DriveWealth is Hiring for 13 Jobs on Simplify!
Find jobs on Simplify and start your career today