Winvesta Taps DriveWealth to Offer Indian Investors Access to U.S. Securities
- Trading Systems
- 06.05.2020 12:02 pm
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.