Webull Corporation ("Webull"), the owner of the popular Webull trading platform that has been downloaded over 40 million times worldwide, today announced its acquisition of all of the outstanding shares of Miflink S.A.P.I. de C.V. ("Flink"). Flink is an investment platform based in Mexico City that allows Mexican customers the unique opportunity to invest in fractional shares of U.S. listed companies without commissions. As part of the transaction, Webull will also acquire Mexican brokerage Vifaru Casa de Bolsa, which Flink agreed to purchase in May 2022, subject to regulatory approval by Mexico's CNBV.
Webull Completes Purchase of Flink in Mexico
Ruben Guerrero, Webull's Head of Latin America, stated, "Webull is thrilled to launch in Mexico, a market with a young and vibrant population that has a strong and untapped demand for technology-based wealth building solutions. We believe the early success of Flink is proof of this demand, and that Webull's approach of using technology to provide low-cost access to global markets for investors in all economies is a perfect fit for Mexico. We anticipate building on Flink's success by offering its customers a broader set of investment products, user-friendly technology, and world-class support."
Flink's customers will continue to have access to trading U.S. stocks over the Flink platform. Over the coming months, Webull will further enhance the Flink platform by integrating its proprietary technology and plans to launch local Mexican investment and cash management products.
The Webull trading platform launched in the United States in 2018 through a subsidiary of Webull that is an SEC-registered broker-dealer and FINRA member. Webull's innovative and intuitive mobile trading platform, along with its offering of low commission trading, allowed it to quickly expand in the U.S. and other markets. Similarly, Flink launched in Mexico in 2018 as one of the first investment platforms to allow Mexican investors access to the U.S. markets and has been a leader in Mexico at democratizing finance.
"Flink is thrilled to be joining the Webull family, as our two companies share similar visions and values around democratizing access for the everyday investors," said Sergio Jiminez, Flink's co-founder. "The synergies among Webull and Flink are obvious and will provide a great service to Mexican investors."
Anthony Denier, Head of the Americas and Europe for Webull, stated, "We are excited to launch our expansion into the Latin American market with the acquisition of Flink. Given our success in the United States and the establishment of our global headquarters in St. Petersburg, Florida, the Mexican market is a natural next step in our efforts to democratize finance for investors across the world. We anticipate using Mexico as a springboard into greater Latin and South America, where we believe there is a strong desire among retail investors to access global markets."
With the addition of Mexico, Webull now offers its investment platform in nine markets, namely the U.S., Hong Kong, Singapore, Indonesia, Australia, South Africa, Japan, and the U.K.