DriveWealth Holdings, a provider of digital brokerage solutions, has raised $21m in a Series B funding round.
The funding round was led by Japanese financial services group SBI Holdings and venture capital firms Raptor Group and Point72 Ventures.
They were joined by the firm’s existing backers including Route 66 Ventures.
Raptor managing director Cliff Friedman said: “We are pleased to partner with DriveWealth’s experienced management team to support the Company’s growth, as it develops its innovative technologies and scales its business focused on the next generation of investors in markets worldwide, that can leverage Raptor’s network of global industry relationships and fintech portfolio of companies.”
DriveWealth is a self-clearing broker offering broker-dealers, advisers and online partners access to the securities markets in the US.
The firm leverages cloud-based infrastructure to deliver scaling and pricing efficiencies.
DriveWealth CEO Robert Cortright said: “At DriveWealth, our mission is to provide global partners low cost, frictionless access to wealth building products through our modern infrastructure. Our solutions provide our partners native integration into their customer facing, mobile applications and reimagine investing for the clients they serve.”