DriveWealth Brings U.S. Stock Investing Capability to India-Based AI Wealth Management Firm
INDmoney Integrates DriveWealth's Technology into SuperMoneyApp
21 May, 2020, 07:00 ET
CHATHAM, N.J., May 21, 2020 /PRNewswire/ -- DriveWealth, LLC, a U.S. based leader in global digital trading technology, announced today that the firm has partnered with INDmoney, an artificial intelligence (AI) and machine-learning based wealth management platform in India, to bring U.S. stock investing technology and capability to INDmoney clients.
DriveWealth CEO Robert Cortright said: "INDmoney has taken a unique approach to wealth management through its AI and machine-learning capabilities, giving its customers a powerful tool to help guide their investment decisions. We're proud to make DriveWealth's technology and infrastructure available to INDmoney, which will enable its clients to access valuable new investment opportunities in the U.S. stock market."
INDmoney Head of Investment Products Nikhil Behl said: "We are excited about the launch of U.S. stocks on INDmoney's SuperMoneyApp. We will be one of the first Indian FinTechs to offer a simple, straightforward experience for investing in U.S. stocks. This will give our clients access to the much-demanded U.S. listed stocks and exchange-traded funds (ETFs) using fractional trading. This is in line with our philosophy of providing diversified investment strategies to our users on a single SuperMoneyApp. DriveWealth's technology, licenses and support have allowed us to add this important capability to our offering."
The initiative with INDmoney is the latest in a series of relationships DriveWealth has forged globally on six continents, including recent agreements to increase affordable access to the U.S. markets to investors of all sizes not only in India but in the U.S., Nigeria and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners such as INDmoney its unique investing technology, along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services. DriveWealth, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market. The firm is dedicated to eliminating barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC. DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information, please visit DriveWealth.com.
INDmoney is a SuperMoneyApp that enables users to manage all their money across investments, loans, expenses and taxes in a single superApp. The App delivers real time AI-driven recommendations and actions to enable users to invest, save and build a better financial future. INDmoney's investments engine has the largest catalogue of investment options across Mutual Funds, Bonds, Fixed Deposits., Portfolio Management Schemes. The platform is unbiased and helps users to invest in as well as rebalance to better performing assets and assets that are at zero commissions. Premium members of INDmoney get access to a virtual "Private Family Office". INDmoney launched its applications in April 2019 and July 2019. The company is backed by Tiger Global, Steadview and Dragoneer. For more information, visit https://www.indmoney.com/.
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