DriveWealth, LLC, a pioneer in fractional investing and embedded finance, and Sproutfi, a “social-first” investment platform which provides securities via its affiliate Northbound Securities LLC, has announced a partnership in order to expand “affordable access to investing in the U.S. markets to everyone in Latin America.”
Accounts opened via the Sproutfi platform will be “held at DriveWealth.” Leveraging DriveWealth’s real-time fractional trading tech, users can “invest in the U.S. markets with as little as $1, while making investing inclusive and educational through Sproutfi’s community-based mobile experience.”
As explained in the update, fractional trading allows investors “to trade and hold fractional share quantities of less than one full share (e.g. 0.45 shares) in their account.”
Previously, investing in the U.S. markets was “an isolating experience for Latin Americans, as investing was perceived to have been reserved for high-net-worth individuals with an in-depth understanding of the markets.”
Although 46% of the population in Latin America does not have access to financial services according to the World Bank, technology is “driving financial inclusion in numerous ways.” And many first-time investors are turning to social networks to learn about investing,”
Sproutfi is offering the tech they require to “make investing deeply social.” Through easy-to-use investment products, educational content, and social networking tools, users “can access community insights to learn about investing from their friends.”
Bob Cortright, Founder and CEO of DriveWealth, stated:
“We believe in the power of learning by doing here at DriveWealth and Sproutfi is doing just that – they’re making it easy for communities to learn how to invest by removing the traditional barriers that have previously held them back. We’re excited to launch our partnership to further expand affordable access to investing for the Latin American population.”
Ruben Guerrero, Co-Founder and CEO of Sproutfi, remarked:
“In order to democratize investing throughout Latin America, we needed to partner with an experienced broker that our users could trust to hold their assets. DriveWealth does exactly that. The company’s history of performance, transparency, and dedicated support is unlike our experience with other platforms – our users can now access the U.S. markets with confidence. Thanks to this partnership, all investors in Latin America can easily access the technology they need to build long-term wealth in collaboration with their friends, family members, and online communities.”
Communities throughout Latin America will now be able “to invest on a dollar equivalent basis (i.e. fractional shares) in over 6,000 U.S. securities and ETFs, making investing in the U.S. markets affordable and accessible.”
