Market Overview

DriveWealth Announces New Investors

Share:

DriveWealth Holdings, Inc., sole owner of DriveWealth, LLC, a global online retail equity platform, is pleased to announce investments by leading financial investment firms: Neuberger Berman Private Equity Funds, Fenway Summer Ventures, LP, and SenaHill Partners LP. DriveWealth also received an investment from Route 66 Ventures in April 2015.

DriveWealth will utilize the new funding to accelerate the onboarding of the Company's global partners and customers, as well as its product and services offering. Terms of the investment were not disclosed.

DriveWealth's vision is to be the global aggregator of retail investor accounts, offering partners and customers low cost access to the desired US equity markets over their vertically integrated platform. DriveWealth's Brokerage as a Service platform offers partners worldwide (foreign brokers, developers, and content providers) the ability to easily integrate and offer their customers US stocks, ADRs and ETFs. DriveWealth's current partners have several hundred million customers in the aggregate. The DriveWealth ecosystem enables businesses to work together and share revenue across different products and relationships. DriveWealth has accounts in over 135 countries since the Company's commercial launch in August 2014.

"We are pleased that these leading financial technology investors support DriveWealth's global strategy. We look forward to working with our new institutional partners to accelerate our vision to bring affordable investing to everyone, everywhere," said Robert Cortright, Founder and CEO of DriveWealth.

About DriveWealth: 

DriveWealth,LLC, member FINRA and SIPC, is a mobile and global full carrying broker dealer for retail investors and provides a low cost, easy-to-use investing platform to individuals worldwide. DriveWealth also partners with businesses around the world to offer its Brokerage as a Service platform, which allows global financial institutions to give their clients access to US listed securities. www.drivewealth.com

About Route 66 Ventures: 

Route 66 Ventures is a private investment firm that focuses on high-growth opportunities at all stages of a company's lifecycle. Route 66 is interested in various sectors of the financial services industry, including asset management, lending, capital markets, insurance, payments services and business services. Route 66 also considers opportunities outside of financial services, including project finance, structured finance, and real estate, when an especially compelling value proposition exists. Visit the firm online at www.route66ventures.com.

About Neuberger Berman:

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman's team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of March 31, 2015. For more information, please visit Neuberger Berman's website at www.nb.com.

About Fenway Summer Ventures:

Fenway Summer Ventures is an early stage venture capital firm focused on promising financial services companies. FSV combines regulatory, capital markets, and credit expertise with deep finance industry knowledge to support entrepreneurs solving important problems at the intersection of finance and technology. FSV focuses on investments in next-generation financial services companies working in lending, payments, data and infrastructure, and personal financial management. Visit www.fsv.vc for more information.

About SenaHill Partners LP:

SenaHill Partners is a merchant bank offering a full suite of investment, operating and advisory services to the Financial Technology sector. We combine proven domain and operational expertise with an unparalleled industry advisor network to deliver superior services that drive measurable results for our partner companies. Our powerful business model includes two primary and complementary offerings: Principal Investing with the SenaHill Investment Group, LLC and Investment Banking with SenaHill Advisors, LLC. From inception and capital raising through scaling and growth to strategic exit, SenaHill bridges the gap between disruptive FinTech innovators and global financial institutions to bring a new level of efficiency, collaboration and success to the industry. For more information please visit www.senahill.com.

___________________________________________________________________________________
DriveWealth, LLC • Member FINRA/SIPC.

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Investment Products: Not a Deposit • Not FDIC Insured • No Bank Guarantee • Not Insured by any Federal Government Agency • May Lose Value.

DriveWealth is a mobile investing platform for individual investors that offers a selection of Exchange Traded Funds ("ETFs") and US listed stocks. DriveWealth also offers free educational content to help investors understand finance and investing basics.

You must be at least 18 years of age and comply with our "Know Your Customer" requirements in order to open a live investing account with DriveWealth.

There is a $50 minimum initial deposit required to open a live investing account. Fees and Expenses associated with the DriveWealth platform include $2.99 ($4.95 in China) commission per transaction. There are no monthly minimum fees, or required ongoing minimum account balance. For non-resident aliens, there is a one-time tax verification fee of $5.00 (representing Form W-8BEN pass-through processing cost). View a full list of our fees at http://bit.ly/DWFees

DriveWealth's commission charge of $2.99 ($4.95 in China) per transaction is among the lowest of all online brokers, based on Barron's survey of online retail brokers (March 15, 2014).

All investing carries risk. Past performance is not indicative of future returns, which may vary. Investments in stocks and ETFs may decline in value, potentially leading to a loss of principal. Online trading has inherent risk due to system response and access times that may be affected by various factors, including but not limited to market conditions and system performance. An investor should understand such facts before trading. The risks associated with investing in international securities, including US-listed ADRs and ETFs that contain non-US securities include, among others, country/political risk relating to the government in the home country; exchange rate risk if the country's currency is devalued; and inflationary/purchasing power risks if the currency of the home country becomes less valuable as the general level of prices for goods and services rises.

Before investing in an ETF, an investor should consider the investment objectives, risks, charges, and expense of the investment company carefully. The prospectus contains this and other important information about the investment company. You should read the prospectus carefully before investing. You may obtain a copy of the prospectus at drivewealth.com/explore/products.

Symbols, images, price, and volume data which are shown within this website are for illustrative purposes only and do not constitute a recommendation by DriveWealth to buy or sell a particular security.

Practice Accounts are available to all users risk free and at no cost to the user. Practice accounts are to be utilized for educational purposes only. Practice accounts are funded with virtual dollars, not real dollars, which means that a user can neither gain nor lose money.

Posted-In: Press Releases

 

Related Articles

View Comments and Join the Discussion!