DriveWealth, a provider of API-based brokerage technology that enables partners to offer real-time access to the US equities market through fractional share trading, has closed a $450 million Series D funding round at a $2.85 billion valuation.
Insight Partners and Accel co-led the round, with participation from Greyhound Capital, Softbank Vision Fund, Point72 Ventures, Fidelity International, Base 10, FTX, and FlightDeck.
DriveWealth currently works with more than 100 partners, including Revolut, MoneyLion, and Vested, to offer retail access to the US equities market.
The new funding will support product and service expansion, talent acquisition, and technology innovation. The firm is also set to launch self-clearing and accelerate execution an is on the hunt for strategic acquisitions and partnerships.
Bob Cortright, CEO, DriveWealth, says: "Our goal is for DriveWealth to be the partner of choice to deliver the embedded investing experience of the future.
"This new capital and investor engagement will accelerate our global expansion plans in order to become the world-class, exchange-like technology company that powers tomorrow's investing products."