MEXICO CITY--(BUSINESS WIRE)--Grupo Bursátil Mexicano (GBM), a leading investment platform in the Mexican stock market for over 35 years, today announced that it has reached an agreement with the SoftBank Latin America Fund, under which the SoftBank unit will invest up to US$150 million into a subsidiary of GBM. The transaction values GBM’s operating holding at over US$1 billion. GBM plans to use the proceeds to accelerate growth in all the business lines where it currently operates, as well as expanding into new verticals. GBM will also boost investments in order to enhance the democratization of investments in Mexico, and offer financial education so that Mexicans can regain control of their finances. The company will continue to focus on building out its talented team of more than 450 employees – who bring deep experience from the largest tech and financial firms globally – as well as to attract top talent in the region and enhance its investment products.
GBM has led Mexico’s stock market with a market share of over 16% in equity trading and more than MX$800 billion in assets under custody. The company aims to scale the scarce offering of quality financial services in Mexico, which is currently dominated by the big banks.
As the digital transformation has accelerated, GBM has continued to grow its user base. According to the National Banking and Securities Commission (CNBV), there were only 298,000 brokerage accounts in Mexico at the end of 2019, which surged to 940,000 by the end of 2020. Over that period, GBM grew its investment accounts from 38,000 to over 650,000, increasing its share of the total investment accounts in the country from 8% to 70%. At the end of March 2021, GBM surpassed the one million accounts mark.
“GBM’s mission is to transform Mexico into a country of investors. For over 35 years, we have been a leading player in the investment industry and today, thanks to our technology, we are now able to expand our services to everyone through our GBM+ platform. Additionally, GBM will keep investing in having the best product offering for our institutional and corporate clients. As well as building the best external advisor base in the country.” stated Pedro de Garay Montero, Co-CEO of GBM. “SoftBank is investing in companies that are transforming the world, and GBM is no exception. We are delighted to partner with them as we accelerate our mission of helping Mexicans achieve financial freedom.”
“Over the past 35 years, GBM has built an unparalleled position with its world-class team and innovative technology,” said Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group Corp. “As we look to make long-term investments in companies that will drive growth and innovation in the region, SoftBank is proud to partner with GBM, the leading investment platform transforming Mexico’s wealth management sector, in its mission to make investing accessible to all Mexicans.”
“We want to democratize investments in Mexico and provide all Mexicans with access to the financial markets. We are aware that this is a large-scale mission, but we are convinced that SoftBank will be a great ally to accomplish this task,” said GBM’s Co-CEO, José Antonio Salazar Guevara.
GBM is Mexico’s leading investment platform and brokerage firm. With over a million investment accounts, the company is transforming the investing landscape, with the mission of democratizing investing in Mexico. The company serves institutions, individuals and external advisors, holding over MX$800 billion pesos in assets under custody. Over the last decade, the company has been investing in digital solutions to enable Mexican’s access to a wide range of investment products, now available through its GBM+ app. Here, clients can invest in personalized portfolios through its Wealth Management solution, access an open product platform for self-trading, and have a flexible & yielding account for their cash needs through Smart Cash.