In a strategic move to tap into the vast and untapped market in Mexico, popular stock trading app Webull has acquired Mexican investment platform Flink. This acquisition marks Webull’s entry into the Mexican market, further solidifying its presence as a global online trading platform.
A Growing Market for Webull
Mexico’s population of over 120 million people presents an enormous opportunity for Webull to expand its user base and provide low-commission online trading services to a vast and growing market. According to Sergio Jiménez Amozurrutia, CEO and co-founder of Flink, the current investment landscape in Mexico is marked by a significant gap between those who have access to capital markets and those who do not.
Flink’s Rise to Prominence
Founded in 2017, Flink has rapidly gained popularity among Mexican consumers, offering a unique solution for investing in fractional shares of U.S.-listed companies without commissions. The platform’s innovative approach to investment services has resonated with users, and its customer base has grown significantly since its launch.
Key Milestones for Flink
- 2018: Launched app with wallet service and digital/physical global debit card backed by Mastercard
- 2020: Introduced ability to buy and sell fractional shares from 30 pesos without commissions, for NYSE-listed stocks
- August 2021: Reaches 1.6 million users
Terms of the Acquisition
The financial terms of the deal between Webull and Flink have not been disclosed. However, this strategic move is expected to significantly expand Webull’s global reach and user base.
Integration Plans for Flink
Webull plans to integrate its technology into Flink’s platform in the coming months, launching local Mexican investment and cash management products. This integration will provide customers with a broader set of investment products, user-friendly technology, and world-class support.
Global Expansion for Webull
This acquisition marks another significant milestone in Webull’s global expansion strategy. The company now operates in nine markets worldwide, including the U.S., Hong Kong, Singapore, Indonesia, Australia, South Africa, Japan, the U.K., and Mexico. Webull’s global headquarters was recently relocated from New York to St. Petersburg, Florida.
Customer Benefits
Flink’s customers can continue to access trading services for U.S. stocks through the Flink platform. The integration of Webull’s technology will further enhance the investment experience for users, providing them with a wider range of investment products and more efficient customer support.
A Vast Market Opportunity
Mexico’s growing economy presents an exciting opportunity for Webull to expand its user base and provide innovative investment services to a vast market. With this acquisition, Webull is well-positioned to capitalize on the untapped demand for technology-based wealth-building solutions in Mexico.
Quotes from Key Executives
Ruben Guerrero, Head of Latin America at Webull:
"We believe that Flink’s early success is proof of the strong and untapped demand for technology-based wealth building solutions in Mexico. We are excited to integrate our technology into the platform and offer its customers a broader set of investment products, user-friendly technology, and world-class support."
Conclusion
Webull’s acquisition of Flink marks a significant step in its global expansion strategy, providing the company with a strong foothold in the Mexican market. With its innovative approach to investment services and commitment to customer satisfaction, Webull is poised for continued growth and success in the competitive online trading landscape.
About Flink
Flink is a Mexico City-based investment platform that provides users with access to fractional shares of U.S.-listed companies without commissions. The company has gained significant traction since its launch in 2017, reaching over 1.6 million users by August 2021.
