DriveWealth Raises $450M Series D at $2.85B for Embedded Investing Platform
DriveWealth announced a $450 million Series D funding round in August 2021, valuing the company at $2.85 billion. The platform provides API-based infrastructure that enables fintechs, banks, and brands to embed fractional share trading and investment capabilities into their own applications. DriveWealth's technology handles the brokerage, clearing, and custody functions, allowing partners to offer commission-free stock trading without building their own trading infrastructure.
The company has powered embedded investing features for numerous global partners. The massive funding round reflects strong investor conviction in the embedded finance model applied to wealth management and retail investing. The capital will support international expansion and product development.
DriveWealth's model is a quintessential example of BaaS applied to the investment space, where the infrastructure provider operates behind the scenes while partner brands own the customer relationship.
- Solidifies embedded investing as a major BaaS vertical with one of the largest infrastructure funding rounds of 2021
- Accelerates global adoption of white-label brokerage APIs as fintechs and brands seek to offer investment products