DriveWealth

Company

Investment-firm

Last deal

$56.7M

Amount

Series C

Stage

27.10.2020

Date

3

all rounds

$100.8M

Total amount

Financing round

General

About Company
DriveWealth is a digital trading technology company that offers digital brokerage solutions worldwide.

Industry

Sector :

Subsector :

founded date

01.01.2012

Number of employees

Company Type

For Profit

Last funding type

Series C

IPO status

Private

Description

DriveWealth provides cloud-based services for real-time fractional trading, allowing global partners like digital advisors, online brokers, and mobile online financial services companies to access the U.S. equities market and invest in real-time fractional shares on a dollar-equivalent basis. The company's vision is to make every mobile device a gateway to accessing investing and savings products, services, advice, and assistance for global citizens of all ages, wealth stages, and levels of financial expertise. DriveWealth's consultative support and technology platform allow partners to offer branded investing experiences to drive customer acquisition, loyalty, retention, and revenue growth.
Contacts

Contact Email

Phone number

Social url

Sub-Organizations
2

DriveLiquidity

DriveLiquidity is a company that specializes in algorithmic trading of cryptocurrencies and acts as a liquidity provider.

Sector

Investment Banking and Brokerage Services

Subsector

Investment Services

Keywords

Cryptocurrency, Financial Services, FinTech

Location

Chatham, NJ, USA

DriveDigital

DriveDigital is a company that has developed a cryptocurrency exchange platform.

Sector

Investment Banking and Brokerage Services

Subsector

Investment Services

Keywords

Cryptocurrency, FinTech, Blockchain

Location

Chatham, NJ, USA
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Subsector

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Number of Funding Rounds

$100.8M

Money Raised

Their latest funding was raised on 27.10.2020. Their latest investor Quite Growth. Their latest round Series C

Date 
Funding Round 
Investors 
Money Raised 
Lead 
27.10.2020
7
$56.7M
03.07.2019
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name 
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Subsector

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Co-Investors
Investors
9
2

Number of lead investors

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Partners 

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count Of Investments

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Gregg Sharnow

Gregg Sharnow

Gregg is a strategic, diplomatic leader and patient problem solver. He began his career as a CPA/public accountant specializing in financial services. From there he was the COO and Head of Business Development of National Discount Brokers, the first online discount brokerage firm, later sold to Deutsche Bank. Gregg was a part of the founding team as Director of Equities Trading in Deutsche Bank’s electronic trading and algorithmic trading division. Gregg left to join a hedge fund, Laurus Capital Management, and started his own successful technology company. Prior to joining SenaHill, he was a Director at Credit Suisse in their Global Clearing Services Division. Gregg lives with his wife and ­­­and three daughters in New Jersey.

current job

SenaHill Partners
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Acquisitions
2
Acquiree Name 
Date 
Price 
Acquisition Name 

Crypto-Systems acquired by DriveWealth

acquirer

DriveWealth
DriveWealth

date

07.02.2022

type

Acquisition

Crypto-Systems

Crypto-Systems was acquired by DriveWealth on February 7th, 2022.

Sector

Investment Banking and Brokerage Services

Subsector

Investment Services

Location

Jersey City, NJ, USA
Cuttone and Company acquired by DriveWealth

Cuttone and Company acquired by DriveWealth

acquirer

DriveWealth
DriveWealth

date

14.01.2021

type

Acquisition
Cuttone and Company

Cuttone and Company

Cuttone & Company is a leading institutional trading technology and execution service provider.

Sector

Investment Banking and Brokerage Services

Subsector

Investment Services

Keywords

Financial Services, Consulting

Location

New York, NY, USA

People

Founders
2
Julie Coin
Julie Coin

Julie Coin

current job

DriveWealth
DriveWealth

organization founded

1

Julie Coin

Robert Cortright
Robert Cortright

Robert Cortright

During his career spanning more than thirty (30) years, Mr. Cortright has been both a co-owner and managing member of numerous financial services businesses. Prior to founding DriveWealth, Mr. Cortright served as a partner in Tachyon Capital Management, LLC, a Delaware limited liability company. He was also a co-founder of TAB Networks, Inc., a Delaware corporation, and served as Co-Chief Executive Officer from October 2009 until July 2012. In 2001 he co-founded FX Solutions, LLC, a foreign currency trading business, and served as Co-Chief Executive Officer until May 2009. FX Solutions was named to the Inc. 500 list of fast growing private companies for three consecutive years for having achieved average three-year-trailing revenue growth rates of 1,571%, 744% and 612% for 2005, 2006 and 2007, respectively. In 2007 Francisco Partners, a private equity firm based in San Francisco, CA, invested $156 million in FX Solutions, based on a $255 million enterprise valuation. Mr. Cortright was also co-founder of Financial Labs LLC, a high frequency principal trading business that achieved profitability within 12 months of launch, and was purchased by Bank of America in 2006 at an enterprise value of $43 million. In total, FX Solutions and Financial Labs created approximately $300 million in shareholder value on $4.3 million of aggregate invested capital. Earlier in his career, Mr. Cortright served in a variety of high-level positions at prominent Wall Street firms, including Credit Suisse A.G., First Chicago Advisory Group, and Merrill Lynch. In recognition of his success as co-founder of FX Solutions, in 2009 Mr. Cortright was named co-winner of the 2009 Ernst & Young Entrepreneur of the Year award in New Jersey. Mr. Cortright received a B.A. in Biochemistry and an M.B.A. from Lehigh University. He holds FINRA/NFA Series 3, 7, 24, 34 and 63 licenses.

current job

DriveWealth
DriveWealth

organization founded

1

Robert Cortright

Employee Profiles
31

Liz Rabban

Executive director of business development

Kris Alandy

Head of recruiting

Elise Ransom

Vice president, marketing and communications

Stan Smith

Stan Smith

Managing Director

Mark Bulger

Mark Bulger

Chief Compliance Officer

Siddhesh Raikar

Software engineer at drivewealth

Sudarshan Murty

Senior software engineer

Robert Cortright

Business development and partnerships

Activity

Recent News
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