Webull Completes Purchase of Flink in Mexico
ST. PETERSBURG, Fla., Nov. 28, 2023 /PRNewswire/ -- 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.
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.
About Webull
Webull is a leading digital investment platform built on next generation global infrastructure. The Webull Group is headquartered in St. Petersburg, Florida and backed by private equity investors located in the United States, Europe and Asia. Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options and fractional shares, through Webull's trading platform, which is currently available in the United States, the United Kingdom, Hong Kong, Singapore, Japan, South Africa, Australia, Indonesia, and Mexico. Webull also offers investment education services, with lessons covering a wide range of topics.
For more information about Webull, visit Webull's corporate website at https://www.webullcorp.com.
About Flink
A financial app created by young Mexicans in 2017, Flink specializes in investments and is a pioneer in the country by providing access to fractional shares and ETFs listed on the New York Stock Exchange, starting from USD 1. Flink aims to change the financial system, creating a more equitable market so that individuals can access simple, secure, and regulated tools to generate more income with their money.
The app is available for smartphones with iOS, Android, and Huawei operating systems.
About Vifaru:
Vifaru is a Brokerage House established in 2014 that is subject to the supervision of the National Banking and Securities Commission.
Since 2022, MiFlink and Vifaru have begun collaborating and operating under the Flink ecosystem with the goal of providing new investment tools. Vifaru offers access to a stock investment account that invests in government debt (Repo Operations) starting from 30 pesos, generating short-term gains, daily liquidity, and one of the most competitive rates.
To use Vifaru's service, you only need to download the Flink app and open an account. Available for iOS, Android, and Huawei.
Learn more about us and check the terms and conditions at: www.miflink.com.
SOURCE Webull Corporation
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