This latest round of funding brings DriveWealth to a $2.85B valuation. Here are the top-line bullets you need to know.
DriveWealth, a brokerage infrastructure company, raised $450M in a Series D. The round drew participation from Accel, Insight Partners, Fidelity International, and SoftBank Group among others.
HOW’S THE COMPANY PERFORMING?
- New Jersey-based DriveWealth offers cloud-based, API-driven brokerage infrastructure to support various investment types.
- It reportedly witnessed a 15% increase in new clients and a 20% increase in AUM in Q2’21.
- The company has more than 100 partners and is present in over 150 countries.
- DriveWealth is currently supported by a team of about 180 employees.
Source: DriveWealth
WHY DOES THE MARKET MATTER?
- The global fintech market is expected to grow at a CAGR of 23.4% and reach a value of $324B by 2026, according to Market Data Forecast.
- The market has seen a boom in funding in recent years. In Q2’21, VCs invested $30.8B in fintech companies — across 657 deals.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
