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
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Drivewealth, Llc
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Annual Revenue
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Net Profit
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EBITDA
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
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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.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series D — $450.0M
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First Round
First Round
(24 Mar 2012)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series D - DriveWealth | Valuation | Insight Partners , Accel | |
| Oct, 2020 | Amount | Series C - DriveWealth | Valuation | Point72 Ventures | |
| Nov, 2017 | Amount | Series B - DriveWealth | Valuation | Raptor Group , Point72 Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| 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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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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Venture capital fund focused on making growth equity investments across tech startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by DriveWealth
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - DriveWealth
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Drivewealth Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payroll management services are provided to businesses by Atomic.
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| domain | founded_year | HQ Location |
Wealth management as a service for embedded investments
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| domain | founded_year | HQ Location |
Fintech platform that helps banks, fintech & consumers with the infrastructure to launch investment products
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| domain | founded_year | HQ Location |
Provides customizable API-based investing technology for financial institutions worldwide.
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| domain | founded_year | HQ Location |
Investment services platform is offered to credit unions and banks.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Drivewealth
Frequently Asked Questions about DriveWealth
When was DriveWealth founded?
DriveWealth was founded in 2012.
Where is DriveWealth located?
DriveWealth is headquartered in Chatham, United States.
Who is the current CEO of DriveWealth?
Michael Blaugrund is the current CEO of DriveWealth.
Is DriveWealth a funded company?
DriveWealth is a funded company, having raised a total of $541.71M across 6 funding rounds to date. The company's 1st funding round was a Series B of $21.14M, raised on Mar 24, 2012.
How many employees does DriveWealth have?
As of Dec 31, 2015, the latest employee count at DriveWealth is 28.
What does DriveWealth do?
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.
Who are the top competitors of DriveWealth?
DriveWealth's top competitors include Atomic, Tarrakki and WealthKernel.
What products or services does DriveWealth offer?
DriveWealth offers API Platform, Fractional Share Investing, Equities Trading, and ETFs and Mutual Funds.
Who are DriveWealth's investors?
DriveWealth has 16 investors. Key investors include FTX, Accel, Fidelity International, SoftBank Vision Fund, and Insight Partners.
What is DriveWealth's valuation?
The valuation of DriveWealth is $2.85B as of Aug 2021.
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