DriveWealth’s embedded investing technology democratizes U.S. investment opportunities for Georgian population
DriveWealth, LLC, a pioneer in fractional investing and embedded finance, today announced a partnership with Bank of Georgia through its investment banking subsidiary Galt & Taggart. Bank of Georgia is the leading universal bank in Georgia catering to nearly 2.6 million users. DriveWealth’s real-time fractional trading technology and API-based brokerage infrastructure will provide affordable access to investing in U.S. equities for the first time in Georgia.
Investing in the U.S. stock market has historically required high minimums and was only accessible for high-net-worth individuals in Georgia, leaving much of the population without access. Limited levels of accessibility and lack of financial literacy have led citizens to prioritize managing their money through banking and savings accounts, creating an education gap on the benefits of investing in U.S. equities. This partnership will provide access to investing on a dollar equivalent basis (i.e. fractional shares) in over 6,000 U.S. securities and ETFs for the first time in the country.
“At DriveWealth, we’re on a mission to democratize investing around the world by helping all investors gain affordable access to investing in the U.S. markets through fractional trading,” said Bob Cortright, founder and CEO of DriveWealth. “We’re excited to partner with Bank of Georgia and Galt & Taggart to help remove the traditional barriers to investing for the Georgian population, while ensuring each investor has the resources they need to learn how to become owners of their financial futures.”
“We are pleased to bring this financial innovation to our customers in partnership with Galt & Taggart and DriveWealth. Until now, access to global investment opportunities has been limited to select citizens in Georgia, and the greater population have not had access to the resources they need to learn how to build long-term wealth through investing. Together, we have created a product that completely reimagines existing investing experiences and gives our customers first-time access to affordable investing in U.S. stocks,” said Archil Gachechiladze, CEO of Bank of Georgia. “We are also pleased to be leading the way in generating better financial health for the citizens of Georgia through our partnership with DriveWealth. Their expertise in developing a modern brokerage infrastructure will help create new financial opportunities for millions.”