DriveWealth Teams with Stockal, HDFC Securities to Make U.S. Stock Investing Straightforward, Affordable for Indian Investors

DriveWealth Teams with Stockal, HDFC Securities to Make U.S. Stock Investing Straightforward, Affordable for Indian Investors
04.12.2019 12:32 pm

DriveWealth Teams with Stockal, HDFC Securities to Make U.S. Stock Investing Straightforward, Affordable for Indian Investors

Investment Management

DriveWealth, LLC, a U.S. based leader in global digital trading technology, today announced it has partnered with SV Capital in India to enable fintech firm Stockal and HDFC Securities – one of the largest stock brokerage firms in India – to increase accessibility to the U.S. stock market for Indian investors.  Through this arrangement, Stockal – which has launched its global investment platform for Indian investors – and HDFC Securities will utilize DriveWealth technology and brokerage execution services to offer their clients easy access to U.S. stocks, including in the form of fractional shares that DriveWealth has pioneered.

DriveWealth CEO Robert Cortright said: “We are excited to work with Stockal, which has an innovative track record, and HDFC Securities, one of India’s most established brokerage firms. India is a very important market for us, and this relationship has the potential to have a real impact on expanding opportunities for individuals to have straightforward, affordable online investing experiences related to brands they know and products they use on a daily basis.”

Nandkishore Purohit, Head of Digital Strategy & Analytics at HDFC Securities, said: "Indian investors have been looking for ways to participate in global financial markets. Our partnership with Stockal and DriveWealth helps serve this demand and reinforces our ideology of providing diversified areas of investment to our customers. We want our customers to ride on global growth stories and create a portfolio that benefits from both the Indian and U.S. markets. Being a completely digital platform, we strongly believe that customers will easily warm up to its user-friendly interfaces and will appreciate the simplicity of the investing process. We are excited about collaborating with Stockal and DriveWealth – which has introduced U.S. stock trading through partnerships around the world – and believe that there are many milestones waiting for us to be achieved.”

Vinay Bharathwaj, Founder and MD, Stockal said: “We believe every investor should diversify geographically, and the U.S. market is particularly attractive as it is the largest, most liquid and most transparent market in the world. With HDFC Securities as a partner, we have uncovered significant demand for U.S. investing among Indians. We are making sure thousands of investors are able to participate in the growth of companies they love, and the relationship with DriveWealth helps us to do just that.”

The partnership 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 in the U.S., Nigeria, India and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners such as Stockal and HDFC 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.

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