DriveWealth, a digital trading platform, has raised $56.7 million in Series C funding led by existing investor Point72 Ventures, with participation from Raptor Group, Route 66 Ventures, Mouro Capital, SBI Holdings, and Fidelity. The new round brings the total amount of financing raised by the company to $101 million. Under the terms of the new funding, DriveWealth has added 3 new members from participating investors SBI, Raptor Group, and Route 66 to its board.

DriveWealth is a platform that powers digital trading and brokerage services for other fintech companies. It offers access to the US equities market in 153 countries, powering trading services for companies including Revolut, Hatch, Moneylion, and Nigeria’s Bamboo.

As of late, DriveWalth says it’s seen good growth, with a 33% increase in account openings from its partners in the third quarter of this year compared to the second. The company says it’ll use the new funding to strengthen its current technology stack, expand its team, and make strategic acquisitions.

Before now, DriveWealth’s most recent funding round was a $21 million Series B raised in April 2018.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print