DriveWealth Upcoming IPO: A fintech infrastructure company building toward the public market

For investors interested in companies that enable investing infrastructure, DriveWealth may be an option. The company is one of the pioneers of fractional trading technology, which helped fuel the Covid-era retail trading boom, which in turn helped accelerate DriveWealth's growth. And soon, retail investors might be able to gain direct exposure if DriveWealth goes public.

In July 2024, former DriveWealth CEO Michael Blaugrund told Mergermarket that the company was building toward a potential IPO, and while there was no set timeline, the company could be in that position in around 24 months — i.e., around mid-2026.⁵

However, there has been limited public reporting indicating progress toward an IPO timeline since those remarks, and DriveWealth was already considered a potential IPO candidate beforehand. For example, after raising its Series D in mid-2021, founder and former CEO Robert (Bob) Cortright told Barron's that DriveWealth had been approached by SPACs several times but wasn't ready to go public; instead, he told the publication, "We want to spend the next six to nine months getting public ready." He also said that DriveWealth would almost certainly go public via a traditional IPO rather than listing via a SPAC.⁶

Then in mid-2023, Cortright told Axios that DriveWealth aimed to file for an IPO within 18-24 months, which would have been in 2025.⁷

While it's not exactly clear why DriveWealth has not gone public yet, the company has remained a recurring IPO candidate in public reporting.

DriveWealth: Company background

DriveWealth was founded in 2012 in New Jersey by Robert Cortright and Julie Coin. Cortright had previously co-founded an online foreign exchange brokerage, FX Solutions LLC. Coin had previously been chief operating officer at Galaxy Digital (a broker-dealer involved in bridging crypto and traditional institutional finance) and E*Trade Retail Services.⁸

One of DriveWealth's main focuses has been pioneering fractional share trading technology, enabling clients to offer their own customers the ability to trade small amounts. Its proprietary order management system, Fracker, which enables fractional and round-the-clock trading, received a patent in 2022.⁹

DriveWealth also offers technology like API-based advisory solutions, where financial services companies can provide their clients with things like automated trading and roboadvisory solutions.¹⁰

The company serves clients in many parts of the world, with an emphasis on enabling approachable trading of U.S. securities even outside the U.S.¹¹

Disrupting behind the scenes

Not all fintech companies disrupt finance in a broadly visible way. Some, like DriveWealth, operate more behind the scenes, while still having a big impact on how the average person engages in financial services.

In particular, DriveWealth offers a brokerage-as-a-service platform that enables many other financial services companies, including some fintechs like Revolut and MoneyLion, as well as somewhat more traditional players like Navy Federal Financial Group, to embed investing capabilities within their ecosystems.

The business grew substantially during the early years of the pandemic, amidst a boom in retail trading.¹² For 2021, the company reported 100% growth in customers and revenue and 140% growth in its international business.¹³

That growth has largely continued, such as with the company reporting a 197% year-over-year increase in daily notional traded, averaging $1.6 billion in Q2 2025.¹⁴

Of note, however, is that DriveWealth has had relatively quick CEO turnover in recent years. In 2022, co-founder Cortright stepped down as CEO, replaced by Terry Angelos, former global head of fintech and crypto at Visa. Eight months later, though, Angelos left and Cortright stepped back in temporarily.¹⁵

In August 2023, DriveWealth hired its new CEO, Michael Blaugrund, former COO at the New York Stock Exchange (NYSE). However, he left two years later to take a new position at Intercontinental Exchange (the NYSE's parent company). He has been replaced by DriveWealth's current CEO, Naureen Hassan, former president of UBS Americas.¹⁶

DriveWealth stock price history

At this time, DriveWealth's Forge Price is unknown. Check back here or create an account with Forge for more updates on DriveWealth's stock/funding data, as well as more valuation information.

Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage companies, and is calculated based on a proprietary model incorporating pricing inputs from primary funding round information, secondary market transactions and indications of interest (IOIs) on Forge.

DriveWealth funding history and private market valuation

Forge Data as of 04/21/2026

DriveWealth's funding history began in 2015, raising $8.3 million from Route 66 Ventures at a $55.33 million valuation, and again raising $9.44 million from them in 2016 at a $67.46 million valuation.¹⁷

In 2018, Raptor Group, SBI Holdings and Point72 Ventures joined Route 66 Ventures for DriveWealth's Series B, which raised $29.2 million at a $102.16 million valuation.¹⁸

In 2020, DriveWealth then raised over $50 million for its Series C, led by Point72 Ventures,¹⁹ more than doubling its valuation to $220.39 million.²⁰

Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage companies, and is calculated based on a proprietary model incorporating pricing inputs from primary funding round information, secondary market transactions on Forge.

DriveWealth's most recently reported primary funding round was its Series D in 2021, when it raised $450 million at a $2.85 billion valuation, co-led by Insight Partners and Accel.²¹

Looking ahead

Although DriveWealth has not announced a specific IPO date, its former CEO indicated in 2024 that it could be ready to move forward with an IPO in 2026,²² so it remains to be seen if that will come to fruition.

Check back here or take a look at Forge’s upcoming IPO calendar to stay in the loop about a potential DriveWealth IPO and other pending public offerings.

For now, as it remains a private company, accredited investors may be able to find shares for sale through Forge's marketplace for private market trading. After you create a free account, you can potentially buy and sell private market shares in DriveWealth and other startups based on availability.

Forge aims to bring greater transparency to an otherwise opaque private market, and as a publicly traded company, it operates within a regulated environment that allows investors to explore private market access.