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About DriveWealth
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$537.7M
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 24-hour trading expansion meets growing global demand for round-the-clock trading.
- The $450M investment will accelerate global expansion, especially in emerging markets.
- Partnership with Papara taps into Turkey's rapidly growing retail investor market.
What critics are saying
- Increased competition from fintechs could erode DriveWealth's market share.
- Regulatory scrutiny on fractional trading may increase compliance costs.
- Geopolitical risks in Turkey could impact operations with Papara partnership.
What makes DriveWealth unique
- DriveWealth pioneered fractional equities trading, setting it apart in fintech innovation.
- The company offers Brokerage-as-a-Service, enabling seamless integration for diverse financial partners.
- DriveWealth's APIs provide flexible toolkits for both traditional and innovative investment workflows.
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Funding
Total Funding
$537.7M
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
↓ -3%1 year growth
↓ -2%2 year growth
↓ -3%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, an API-based brokerage infrastructure provider, received a $450 million investment in a Series C round led by Insight Partners and Accel, reaching a valuation of $2.85 billion. Other participants included Greyhound Capital, Softbank Vision Fund 2, Point72 Ventures, Fidelity International, Base 10, FTX, and FlightDeck. The investment will accelerate DriveWealth's global expansion to enhance its embedded investing technology.
DriveWealth is Hiring for 17 Jobs on Simplify!
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About DriveWealth
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$537.7M
Headquarters
Jersey City, New Jersey
Founded
2012
DriveWealth is Hiring for 17 Jobs on Simplify!
Find jobs on Simplify and start your career today