Grupo Bursátil Mexicano (GBM) is a 35-year-old investment structure in the Mexican stock market. Inside the first three decades of existence, GBM was focused on adding investment services to high net worth individuals and local and mundial institutions.
Over the past decade, the Mexico City-based brokerage has ramped enhance its digital efforts, as well, in the past five years, has become incredible its business model to offer expertise to all Mexicans with the pretty products and services it offers large large homes & acres.
Today, GBM is announcing it has gained an investment of “up to” $150 million from SoftBank via the Japanese conglomerate’s Latin Far east Fund inside a valuation of “over captal up to $1 billion. ” The investment is always to be made through one of GBM’s subsidiaries and is not crowd on anything, according to the small business}.
Co-CEO Pedro de Garay Montero told TechCrunch which often GBM has built an application, GBM+, that organizes plus invests clients’ money with the aid of three different tools: Influence Management, Trading and Lively Cash.
This was a “historic” one just for the company, he said, together with GBM went from enduring 38, 000 investment card in January 2020 towards more than 650, 000 of year’s end. In the in the beginning quarter of 2021, the number of had grown to over the cheaper million — representing additional 30x growth from the beginning among 2020.
For some patients context, according to the National Business banking and Securities Commission (CNBV), there were only 298, 500 brokerage accounts in Mexico at the end of 2019, and that quanity climbed to 940, 000 at the end of of 2020 — on GBM holding a large play of them.
Almost all of GBM’s clients are dealership clients, but the company besides that caters to “most of the right investment managers worldwide, ” as well as global companies together with Netflix, Google and BlackRock. Specifically, it services forty percent of the largest public giant in Mexico and a vast base of ultra high net worth individuals.
They is planning to use its actual new capital in part to shell out “heavily” in customer acquirement.
Montero mentioned half of its team out of 450 are tech staff, and that the company plans if you want to also continue hiring mainly because focuses on growth in its B2C and B2B offerings combined with expanding into new verticals.
“We are really improving our already robust financial education offering, ” he added, “so any Mexicans can take control of or perhaps finances. GBM’s mission is usually transform Mexico into a uk of investors. ”
Because Mexico is a huge market — and a population of over 120 watch million and a GDP in excess of $1 trillion — GBM is laser-focused on safe and natural its presence in the country.
“The financial services sector is dominated by good banks and is inefficient, higher and provides a poor client be subjected to. This has resulted in less than 1% of individuals having an investment profile, ” Montero told TechCrunch. “We will be targeting potential customers through our own platform and therefore internal advisors, as well as alarming our base of usb advisors to reach as many some individuals as possible with the best investment companies user experience. ”
When it comes to institutional visitors, he believes there is “enormous potential” in serving both the large corporations and the SMEs “who have received limited support from banks. ”
Juan Franck, Expenditure lead and head coming from all Mexico for SoftBank Which include America Fund, believes each retail investment space as Mexico is at an inflection point.
“The investing culture in Mexico has historically been very compared to the rest of the world, while specifically compared to other gets in Latin America, take joy in Brazil, ” he extra. “However, the landscape is ordinarily quickly changing as, in the course of technology, Mexicans are being included more education around investment and more investment alternatives. ”
In the midst of these shift, SoftBank was amazed at GBM’s “clear vision and as a consequence playbook, ” Franck expressed.
So , all the being a decades-old company, SoftBank sees big potential inside of strength of the digital operating system that GBM has built information about.
“GBM is known as a leading broker in Mexico pertaining to trading activity and car finance broker accounts, ” he stated. “The company combines several of industry know-how within entrepreneurial drive to reform the wealth management office space in the country. ”