FinTech Unicorn DriveWealth Names Visa Exec Terry Angelos as Global CEO

FinTech infrastructure has taken on an increasing level of importance in the digital payments space, and brokerage firm DriveWealth is looking to set itself apart from the crowd with the appointment of Terry Angelos as global chief executive officer, according to a company press release Tuesday (May 10).

Last year, DriveWealth saw its customers and revenue double, as well as a 140% growth in its international business. DriveWealth said its APIs are utilized by more than 100 global FinTechs, challenger banks and digital wallets to buy fractional shares of U.S. equities and utilize robo-advising products.

By 2025, Juniper Research said it expects more than 4.4 billion digital wallet app users.

“Today, there are over one billion people who access banking and financial services via digital wallets and neobanks, and digital consumers are increasingly investing in U.S. equities from inside these apps,” said Angelos in the company press release. “DriveWealth’s APIs and fractional share ownership model is the leading choice to power this digital investment experience.

“High minimums and whole share purchases have prevented access to U.S. equities and the ability to start investing with small dollar amounts was the most frequently cited motivator to start investing according to a recent DriveWealth survey,” he said.

Prior to joining DriveWealth, Angelos served at Visa as SVP, global head of FinTech and crypto, where he was responsible for leading the company’s global strategy and programs around how Visa engages with, invests in and partners with FinTech and crypto clients.

Related: DriveWealth Appoints New Product and Engineering Team Leaders

Last month, DriveWealth appointed Gayathri Rajan as chief product officer and Harshal Deo as chief technology officer.

Rajan joined DriveWealth after 16 years at Google, where she founded its payments platform and built out the high-growth enterprise business for Google Maps, while Deo came to DriveWealth after 16 years at eBay and PayPal, where he pioneered the use of artificial intelligence for fraud detection.