The amount of the Series A investment was not immediately available. DriveWealth plans to use the new capital to help onboard the company’s partners and customers, as part of its goal to “bring affordable investing to everyone, everywhere,” in the words of Robert Cortright, CEO and founder. Route 66’s managing partner, Michael Meyer pointed to two factors that had encouraged his firm to throw its support behind DriveWealth: experienced management and the company’s location in a “high growth” area within the global financial services industry. “We are excited to partner with the DriveWealth team to build a truly global retail investing platform,” Meyer said.
DriveWealth makes it easier for global investors to access U.S. stock markets. The brokerage-as-a-service platform provides apps, APIs, and other solutions for financial services companies in more than 135 countries around the world, enabling investors and traders to buy and sell U.S. stocks, exchange-traded funds (ETFs), and other assets.
DriveWealth was founded in May 2012 and is headquartered in Chatham, New Jersey. See them at FinovateSpring 2015 in San Jose.