Launch of New Global Investment Platform Winvesta During National Lockdown in India Leverages DriveWealth Technology, Brokerage Execution Services CHATHAM, New Jersey, May 6, 2020 /PRNewswire/ -- DriveWealth, LLC, a U.S. based leader in global digital trading technology, announced today a partnership with Winvesta Ltd, a newly launched UK-based global investment platform with operations in India and the U.S. Employing DriveWealth's proven technology, Winvesta is now offering U.S. stock market access via a mobile app to investors across India, enabling them to invest in their favorite companies. Winvesta clients will also have access to real-time fractional shares in familiar U.S. brands, an offering that DriveWealth has pioneered.
Winvesta has launched its app thus far via Android, which notably has a 95% market share in India, where nearly 75% of online activity takes place on mobile phones. The firm also plans to roll out its technology, supported by the DriveWealth partnership, in the UK later this year.
'It's astonishing that less than 0.1% of Indian wealth is invested beyond its borders,' said Swastik Nigam, Founder and CEO of Winvesta. 'The impact COVID-19 has had on Indian portfolios and the quick resurgence of the U.S. markets has demonstrated the trouble of maintaining a home bias. Partnering with DriveWealth is an important first step in making global investment access easier for resident Indians. DriveWealth's API-based technology and Winvesta's tech team have successfully delivered and gone live with our offering on U.S. securities in the middle of extremely strenuous circumstances. Winvesta aims to be the quickest and most economical way for Indians to access international investments, powered by a great set of partners like DriveWealth and beautiful product design.' DriveWealth CEO Robert Cortright said: 'We are delighted to provide our technology and infrastructure to Winvesta to enable the firm to bring investors throughout India straightforward access to U.S. stocks in an affordable manner, without the need for minimum balances, high transaction costs or full share quantities. Investors across the world have become more aware than ever of the importance of balancing their portfolios among different assets, and we're pleased to play a role in helping to facilitate global diversification for investors outside the U.S. through partnerships like this one with Winvesta.' DriveWealth has forged partnerships globally on six continents, including numerous recent agreements to increase affordable access to the U.S. markets to investors of all sizes in India, the U.S., Nigeria and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners such as Winvesta 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.
About DriveWealth 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.
About Winvesta Founded by former Deutsche Bank veteran traders Swastik Nigam and Prateek Jain, Winvesta Ltd is an appointed representative of RiskSave Technologies Ltd., which is authorised and regulated by the Financial Conduct Authority (FCA), UK. Winvesta offers a global investment platform for those in India. Winvesta's product suite includes U.S. stock trading and international banking facilities (coming soon). The international multi-currency account will enable users to have accounts in GBP, EUR and USD, which will facilitate alternate investments like international real estate. Using Winvesta's regulatory status and technology partnerships, users can open the U.S. brokerage and multi-currency accounts in as little as 15 minutes. For more information, please visit Winvesta.
Logo - https://mma.prnewswire.com/media/783298/DriveWealth_Logo.jpg Logo - https://mma.prnewswire.com/media/1164304/Winvesta_Logo.jpg PWR PWR