WilmerHale Advises DriveWealth in $450M Series D Funding

WilmerHale Advises DriveWealth in $450M Series D Funding

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On August 20, 2021, DriveWealth Holdings, Inc., a pioneer in fractional trading and embedded finance, announced it has secured $450 million in its Series D round with a valuation of $2.85 billion. The funding round was co-led by New York-based global private equity and venture capital investor Insight Partners and Accel, with significant participation by Greyhound Capital, Softbank Vision Fund 2, and Series C lead Point72 Ventures. The round also included a follow-on investment from Fidelity International, plus several new investors including Base 10, FTX, and FlightDeck.
 
DriveWealth intends to utilize the new funds to support product and service expansion, talent acquisition, and deepen the capabilities of its technology. The funding will also be used to launch self-clearing and accelerate execution via strategic acquisitions and partnerships. 
 
The WilmerHale team advising DriveWealth consisted of Stephanie Evans, Adam Freiman, Evan Kirsch, Alex Bernstein and Gerard Fischetti.

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