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Popular stock trading app Webull has acquire Mexican investment funds platformFlink , give it an entry into the Mexico food market .
Financial terms of the raft were not disclose .
Although Webull has China roots , it is based in the United States and challenger Robinhood in the land as a lowly - commission on-line trading platform that also offer cash management . It recently moved its globose headquarters from New York to St. Petersburg , Florida .
Founded in 2017 , Mexico City – basedFlinkhas raise $ 70 million in financing , includinga $ 57 million Series Bthat was announced in August of 2021 . Backers let in Accel , Lightspeed Venture Partners , ALLVP , Clocktower and Mantis Venture Capital ( founded by the Chainsmokers ) . The inauguration gives Mexican consumers a way to endow in fractional share of U.S.-listed companies without commission .
As part of the dealing , Webull is also beak up Mexican brokerage Vifaru Casa de Bolsa , which Flink concord to purchase in May 2022 .
At the time of Flink ’s last raise , CEO and co - founder Sergio Jiménez Amozurrutia told TechCrunch it felt unfair that in his commonwealth of more than 120 million people , only atiny fractionof the population had the power to invest in the cap markets .
Flink set up its app in 2018 with a wallet service , a digital and strong-arm global debit entry plug-in backed by Mastercard , and in 2020 , it began offering the ability to grease one’s palms and sell fractional portion from 30 pesos , without commissions , for NYSE - listed stocks . As of August 2021 , it had 1.6 million users . It is not known how many it has today .
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In a write program line , Ruben Guerrero , Webull ’s pass of Latin America , described the Mexican securities industry as one with “ a young and vivacious universe that has a strong and untapped requirement for technology - based wealth construction solution . ”
He sum : “ We believe the early success of Flink is substantiation of this demand , and that Webull ’s glide slope of using engineering to put up low - monetary value accession to worldwide markets for investors in all economy is a perfect fit for Mexico . We anticipate build on Flink ’s success by offering its customer a broader bent of investment merchandise , user - friendly technology , and human beings - class support . ”
Flink ’s customers will proceed to have access to deal U.S. stocks over the Flink platform . In the coming months , Webull plans to integrate its own technology into the platform and launch local Mexican investment and hard currency management product .
The Webull trading weapons platform launch in the United States in 2018 through a subsidiary of Webull that is an SEC - registered agent - dealer and FINRA member . Today , it has over 8 million opened accounts globally . With the addition of Mexico , Webull now operates in nine markets , including the U.S. , Hong Kong , Singapore , Indonesia , Australia , South Africa , Japan , and the U.K.
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