DriveWealth Partners with Bits of Stock to Power the Ownership Economy for Millennials and Gen Z
JERSEY CITY, N.J., Nov. 22, 2021 /PRNewswire/ -- DriveWealth, LLC, a pioneer in fractional investing and embedded finance, today announced a partnership with Bits of Stock, the Stock Rewards App. Bits of Stock is building the ownership economy to shape the future of stock ownership, wealth generation, and brand loyalty for younger generations.
"Helping our partners develop the tools they need to help their consumers access the markets and build long-term wealth is a core component of our mission here at DriveWealth," said Bob Cortright, founder and CEO of DriveWealth. "Bits of Stock is providing first-time investors with an engaging experience that enables them to easily begin investing in the brands they support, while also developing the skills they need to take control of their financial futures."
Bits of Stock is pioneering a first-in-class cardless Stock Rewards program that rewards customers with fractional shares of stock on everyday purchases with the brands they love and want to own. The program simply requires customers to link their bank account to the Stock Rewards app and earn limitless Stock Rewards from nationally recognized participating merchants like Five Guys, Zara, Popeyes, Arhaus, Crocs, L'Occitane, Levi's, DOBA, and Zulily, among others, when they shop in-store or online.
For example, customers can earn 5% in Popeyes stock every time they eat at Popeyes anywhere in the United States. As a result, participating merchants are building long-term customer loyalty and even increasing their average order value and customer frequency by over 20% across the board.
The Bits of Stock and DriveWealth partnership underscores the companies' shared vision to democratize access to the U.S. equities market by creating a future where finance is mobile, transactional, fractional, and accessible to all investors, regardless of their age or level of financial expertise. Both platforms can open the door to finance, wealth building, and investing to millions of consumers around the world by breaking down the traditional barriers to entry to an industry that previously catered to high-net-worth individuals.
"Bits of Stock and DriveWealth have always shared a vision for democratizing access to the U.S. equities market through fractional shares," said Arash Asady, CEO of Bits of Stock. "We are excited to pioneer Stock Rewards with DriveWealth and bring our shared vision to market."
About Bits of Stock
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