DriveWealth, LLC, a pioneer in fractional investing and embedded finance, has formed a partnership with Grupo Bursátil Mexicano (GBM), the investment platform and brokerage company that is streamlining the investing sector with the goal of democratizing investing in Mexico.
By leveraging DriveWealth’s real-time fractional trading tech and API-based brokerage infrastructure, Mexican investors will “gain affordable and expanded access to investing in U.S. equities,” according to the announcement.
Previously, access to US investing had mainly been reserved for high net worth individuals in Mexico, with only 298,000 brokerage accounts in Mexico “at the end of 2019, according to the National Banking and Securities Commission (CNBV).”
Currently, GBM has over 2 million accounts. Clients will now be able to invest on a dollar equivalent basis (fractional shares) via the firm’s Trading USA tool “powered by DriveWealth, allowing everyday investors to gain access to investing in U.S. securities.”
“DriveWealth is on a mission to open the doors for more investors around the world to gain affordable access to the U.S. markets through embedded investing,” stated Bob Cortright, Founder and CEO of DriveWealth.
“Our partnership with GBM will help to remove the traditional barriers to investing in the U.S. markets for the Mexican population and marks an additional milestone for us as we progress our mission to democratize investing for the Latin American region, following our recent partnership with Chilean-based investment platform, Racional.”
Pedro de Garay, co-CEO of GBM, said that their customers have been expressing their interest in investing in the U.S. stock market, which had been accessible to only “the most wealthy Mexican citizens.”
Garay added that because of their partnership with DriveWealth, the U.S. market is now accessible to members of the Mexican population, “creating new opportunities for citizens to improve their financial wealth through fractional equities trading.”
As noted in the update, DriveWealth, the pioneer of fractional equities trading and embedded investing, is “a visionary technology company that empowers more than 100 partners around the world to engage their customers by placing the markets in the palm of their hand.”
The team at DriveWealth believes the future “is fractional, transactional and mobile.”
Every mobile device should be “a gateway to accessing investing and savings products, services, advice, and assistance for global citizens of all ages, wealth stages, and levels of financial expertise,” the firm noted.
DriveWealth’s consultative support and Cloud-powered, industrial strength tech platform enable partners to provide branded investing experiences to support customer acquisition, loyalty, retention, and revenue growth.