![]() ![]() “At Flink, we’re guided by the belief that Mexico’s financial system should work for everyone - not only a select few.” “Most legacy Mexican banks cater to less than 1% of the population - meaning most Mexicans don’t have a bank account, let alone a brokerage account,” Amozurrutia said at the time of the company’s last raise. GenZers seem to be the most interested in investing - 27% of the app’s clients are between 18 and 25 years old, while 22% are millennials, execs say. Over 85% of its users are first-time investors. Since launching its first brokerage product in July of 2020, Flink has 1.6 million users, up from 1 million users at the time of its February raise. The demand for what the startup has to offer is clearly there. Image Credits: Lightspeed’s Mercedes Bent and Flink founding team / Lightspeed ![]() So after selling Easy Credit, a consumer lending platform he’d built with Rick Rafael Bueno (whom he met in 2015 at a hackathon at Tech de Monterrey), Amozurrutia set out to give Mexicans access to something he believed they’d never had access to: an app-based consumer trading platform. To him, the lack of widespread participation in investing is an example of the rich getting richer as part of an infrastructure “that is built for the wealthy.” The result of the imbalance is that a lot of people have historically been locked out of making potentially wealth-building investments. ![]() There is a growing number of them globally, including Scalable Capital, Bitpanda and Trade Republic in Europe.įor Mexico City-born Sergio Jiménez Amozurrutia, the fact that in his country of more than 120 million people, only a tiny fraction of the population has the ability to invest in the capital markets felt unfair. Neobrokers are defined as startups that are disrupting the investment industry by providing a platform for a wider range of consumers to partake in the stock market by offering them more incremental investment options and modern and easy mobile-based interfaces to manage their money. Since its 2017 inception, the startup has raised nearly $70 million. LIGHTSPEED BROKER SERIESExisting backers Accel, ALLVP, Clocktower and new investor Mantis Venture Capital (founded by The Chainsmokers) also put money in the Series B. The financing comes just over six months after Flink raised $12 million in a Series A round led by Accel. Flink, a Mexico City-based neobroker, has raised $57 million in a Series B round of funding led by Lightspeed Venture Partners. ![]()
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