Lithuania

Fintech Unicorn Drivewealth Opens EU HQ in Vilinius

by Fintechnews Baltic June 1, 2022

DriveWealth, a global embedded finance pioneer that powers equity investing for fintechs,  announced the opening of its first international entity to serve the European market. Based in Vilnius, Lithuania, the new DriveWealth Lithuania subsidiary will create innovative new partnerships with traditional financial service providers, DeFi companies, and startups to help give individuals worldwide more control over their financial lives.

Terry Angelos

“The ability to easily scale with our partners and bring impactful wealth-creation opportunities to forward-thinking platforms around the world is a large part of why DriveWealth is different. So many Baltic and European Union platforms are looking for smarter ways to attract and retain customers – and many investors are looking to create better financial futures. The DriveWealth Lithuania team is perfectly positioned to achieve both goals at the same time.”

Terry Angelos, Global CEO at DriveWealth.

DriveWealth’s works with its partners to create bespoke, scalable ways to use its API-based technology to offer retail investors access to U.S. markets, innovative stock reward programs for loyal customers, and more. DriveWealth’s APIs are utilized by over 100 global fintechs, challenger banks, and digital wallets to purchase fractional shares of U.S. equities and utilize robo-advising products that democratize access to a new class of financial customers. The company’s current partners include Revolut, MoneyLion, Hemista, among others.

Elijus Čivilis

“DriveWealth choosing Lithuania as its European base is no surprise to anyone following the mature fintech ecosystem here,”

says Elijus Čivilis, General Manager of Invest Lithuania.

“Lithuania has a proven track record of helping fintechs scale up their operations in the EU. In fact, Lithuania’s 147 licensed fintech entities makes up the largest fintech hub across theEU. I’m confident that DriveWealth and Lithuania will help each other reach even greater levels of success and innovation.”

The launch of DriveWealth Lithuania is part of the firm’s larger global growth strategy. Most recently, DriveWealth created access to affordable fractional investing in underserved markets in Africa (Kenya, Uganda), Europe (Georgia), and Asia Pacific (South Korea).

Featured image credit: Edited from Unsplash