Securities lending technology provider Sharegain announced on Monday that it has partnered with DriveWealth.
“We are excited to join forces with DriveWealth, a company that shares our vision of levelling the playing field in capital markets and making securities lending accessible to everyone,” said Sharegain CEO and Founder Boaz Yaari.
US-based firm DriveWealth has been a big driving force behind the rise of commission-free stock trading.
In simple terms, the company provides the backend infrastructure needed for brokers to access exchange-traded securities. Most companies have historically used them to access US equities. That includes firms like Revolut and Freetrade.
The partnership means that firms using DriveWealth can now access Sharegain’s share lending services as well. Sharegain is a tech firm that lets brokers lend out shares. Most then have an offering where they split the revenues generated by this activity with their end retail clients.
“Our mission has consistently been to empower the next generation of private investors,” said DriveWealth CEO Michael Blaugrund. “Collaborating with Sharegain extends an efficient investing experience to new B2B partners and their clients globally. We look forward to a successful partnership.”