About DriveWealth
DriveWealth is a company based in Chatham (United States) founded in 2012. DriveWealth has raised $541.71 million across 6 funding rounds from investors including FTX, Accel and Fidelity International. The company has 28 employees as of December 31, 2015. DriveWealth offers products and services including API Platform, Fractional Share Investing, Equities Trading, and ETFs and Mutual Funds. DriveWealth operates in a competitive market with competitors including Atomic, WealthKernel, Tarrakki, Velexa and Eko, among others.
- Headquarter Chatham, United States
- Employees 28 as on 31 Dec, 2015
- Stage Unicorn
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Sectors
Technology
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Email
Locked
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Phone
Locked
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Website
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Social
Locked
- Legal Name Drivewealth, Llc
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$541.71 M (USD)
in 6 rounds
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Latest Funding Round
$450 M (USD), Series D
Aug 20, 2021
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Investors
FTX
& 15 more
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Employee Count
28
as on Dec 31, 2015
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Products & Services of DriveWealth
DriveWealth offers a comprehensive portfolio of products and services, including API Platform, Fractional Share Investing, Equities Trading, and ETFs and Mutual Funds.
Enables partners to offer securities trading and investing via API.
Allows dollar-based investing in stocks and ETFs for diversification.
Facilitates trading of US equities and OTC securities globally.
Provides access to diverse funds for client financial goals.
People of DriveWealth
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Software Development Team
35 people
Operations Team
20 people
Leadership Team
12 people
Product Management Team
10 people
Legal and Compliance
8 people
Data Analysis and Operations Team
5 people
Principal Team
5 people
Sales and Marketing
4 people
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Funding Insights of DriveWealth
DriveWealth has successfully raised a total of $541.71M across 6 strategic funding rounds. The most recent funding activity was a Series D round of $450 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in DriveWealth
DriveWealth has secured backing from 16 investors, including venture fund and institutional investors. Prominent investors backing the company include FTX, Accel and Fidelity International.
| Investor | Description | Founded Year | Domain | Location |
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Investment firm scaling software and technology companies from early to late stages.
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Accel is recognized as a leading venture capital firm.
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Venture capital fund focused on making growth equity investments across tech startups
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Investor details for DriveWealth
Investor domains, locations, round participation, and complete history require an active premium plan.
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- Investor locations
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Verified entity values are shown only after access is granted.
Investments & Acquisitions by DriveWealth
Investment portfolio details for DriveWealth
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
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- Transaction dates
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Financial Statements - DriveWealth
Detailed financials for DriveWealth
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
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- Profit trends
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Drivewealth Comparisons
Peer comparison for DriveWealth
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- Named peers
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Competitors of DriveWealth
DriveWealth operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Atomic, WealthKernel, Tarrakki, Velexa and Eko, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Payroll management services are provided to businesses by Atomic.
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Wealth management as a service for embedded investments
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Fintech platform that helps banks, fintech & consumers with the infrastructure to launch investment products
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Provides customizable API-based investing technology for financial institutions worldwide.
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Investment services platform is offered to credit unions and banks.
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Detailed competitors of DriveWealth
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
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Latest news on Drivewealth
Complete news archive for DriveWealth
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Frequently Asked Questions about DriveWealth
DriveWealth was founded in 2012.
DriveWealth is headquartered in Chatham, United States.
Michael Blaugrund is the current CEO of DriveWealth.
DriveWealth is a funded company, having raised a total of $541.71M across 6 funding rounds to date.
As of Dec 31, 2015, the latest employee count at DriveWealth is 28.
DriveWealth was founded in 2012 in Chatham, United States, as an online platform in the fintech sector. Cloud-based API-embedded investing solutions are offered, including fractional equities trading, autopilot portfolio management tools, AI-managed robo-advisory, HSAs, spare change products, and alternative investments. Digital investment services are enabled for wealth managers. Educational content on finance and investing basics is provided to investors, alongside client onboarding solutions for brokers.
DriveWealth's top competitors include Atomic, Tarrakki and WealthKernel.
DriveWealth offers API Platform, Fractional Share Investing, Equities Trading, and ETFs and Mutual Funds.
DriveWealth has 16 investors. Key investors include FTX, Accel, Fidelity International, SoftBank Vision Fund, and Insight Partners.
The valuation of DriveWealth is $2.85B as of Aug 2021.