DriveWealth Raises $56.7M in Series C Funding
Summary
The company intends to use the funds to strengthen its current technology stack, make strategic acquisitions, and grow the organization to scale its business. Led by Founder and CEO Bob Cortright, DriveWealth is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth currently works with a number of fintechs including Hatch, Revolut, Stake, and Moneylion to offer access to the U.S. equities market to millions of retail investors in 153 countries. In the last 12 months, the company has expanded into the HSA space and partnered with Access Softek to bring its offering to community banks and credit unions. DriveWealth closed its Series B funding round, which totaled $21 million, in April of 2018.