DriveWealth, an infrastructure platform offering access to the US securities market, is rumored to raise up to USD 400 million in a Series D funding round led by SoftBank and Insight Partners; however, DriveWealth has declined to comment. 

The round comes nine months after the company raised USD 56.7 million in Series C funding in October 2020 and could increase the total funding raised to USD 500 million.  

According to sources familiar with the matter, the exact size of the raise has yet to be finalized, but the deal is set to close imminently.  

DriveWealth provides an API-based white-label infrastructure platform for FinTechs to access the US securities market. The platform can be used by online stock brokers, digital advisors, and online financial service companies to embed investment experiences on their mobile apps to serve retail investors. It runs on the company’s patent-pending “Fracker” technology, which is cloud-based and provides the ability to invest in real-time fractional shares on a dollar equivalent basis.