DriveWealth, the API-driven global brokerage firm registered with the U.S. Security and Exchange Commission said on Friday it had raised $450 million in its latest funding round, led by Insight Partners and Accel.
The series D round, drew support from the likes of Greyhound Capital, SoftBank Vision Fund, and Point72, valuing the company at $2.85 billion.
DriveWealth in October 2020 closed a $56.7 million Series C raise which was led by Point72 Ventures, with participation from Raptor Group, SBI Holdings, Route 66 Ventures, Mouro Capital and Fidelity International Strategic Ventures.
DriveWealth provides technology that lets businesses to offer fractional trading. A fractional share gives an investor the opportunity to own a small portion, or fraction, of one whole share of a stock.
Fractional shares in most aspects work the same as full shares. Fractional shareholders receive the same percentage gains and losses as those with full shares and may also receive the same benefits such as voting rights and dividends.
READ; DriveWealth Acquires New York-based institutional broker-dealer Cuttone & Company
