US-based fractional investing and embedded finance company DriveWealth has enhanced its DriveAdvisory platform that allows partners to integrate financial advisory products into their apps.

DriveAdvisory was launched in December 2021 as an SEC-registered independent adviser.

The enhanced capabilities of the platform will enable partner firms to leverage DriveWealth’s APIs to provide embedded advisory tools to customers.

DriveAdvisory offers a hands-on consulting programme for the partner firm to ensure that they offer an embedded investing experience that caters to the needs of their customer base.

DriveWealth CIO Harry Temkin said: “At DriveWealth, we listen to all of our partners – and many told us they need a better way to offer advisory services to their customers.

“The creation of DriveAdvisory is in direct response to our partners’ needs. This enables us to offer more integrated investing and advisory experiences for our partners, helping to drive customer acquisition, loyalty, retention, and revenue growth.”

DriveWealth offers a spectrum of cloud-based and API-driven solutions to enable investments.

Last year, the firm raised $450m in a Series D funding round to bolster its footprint in embedded investing and support product and service expansion and hire new talents.

In 2020, INDmoney, an Indian artificial intelligence (AI) and machine-learning-based wealth management platform, forged an alliance with DriveWealth to offer US stock investing technology to its clients.

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In February, French fintech Finary raked in €8m in a new financing round to fund its strategic plan to build a modern private bank.