Original note published in High Level
Today was the. known Mexican Stock Market Group (GBM) who has come to an agreement with him SoftBank Latin America Fund This will take a minority stake in the leading investment platform that enables millions of Mexicans to invest and achieve their financial freedom. SoftBank going to invest up $ 150 million, Evaluation of the operating subsidiary of GBM in more than a billion dollars, according to a statement.
However, the company plans to use the resources gained in the investment round to accelerate its growth in all of the businesses in which it operates today and to expand into new areas of business.
What’s more GBM It will continue to promote the democratization of investment in the country, as well as promoting financial education so that Mexicans are in control of their finances.
Likewise, the company will continue to focus on consolidating its talented team, which currently includes 450 people with extensive experience in the world’s major financial and technology companies. They also strive to attract the best talent in the region and optimize their investment products.
“GBM’s goal is to make Mexico a land of investors. GBM has been a leader in the investment world for 35 years. Today, thanks to our investment in technology, we can offer our services to anyone in Mexico through GBM +. In addition, we will continue to invest to offer institutional and corporate clients the best products and services on the market and to create the best base of external consultants in the country. SoftBank invests in companies that are changing the world and GBM is no exception. We look forward to working with them to advance our mission to democratize investment in Mexico.Pedro de Garay Montero, Co-CEO of GBM, pointed out.
GBM leads the country’s stock market, has a larger stake in the 16% in the capital market business Yes more than 800 billion assets in custody. The company’s goal is to scale the limited supply of high quality financial services in Mexico that is currently dominated by major banks.
As the digital transformation, GBM has further expanded the digital transformation. According to the National Banking and Securities Commission (CNBV), In Mexico there were only 298 thousand broker accounts at the end of 2019, while the number had grown to 940 thousand at the end of last year. At the same time, GBM rose from 38 thousand investment accounts to more than 650 thousand and increased its stake in total investment accounts in Mexico from 8% to 70%. Since March of this year, GBM has managed to hit the target of one million broker accounts.
“Over the past 35 years, GBM has carved out an unparalleled position with world class equipment and innovative technology. In our quest to make long-term investments in companies that drive growth and innovation in the region, SoftBank is proud to partner with GBM, the leading investment platform transforming wealth management in Mexico with its mission to make investments accessible to all . Mexican.”commented Marcelo Claure, CEO of SoftBank International and COO of SoftBank Group Corp.
“We want to democratize investments in Mexico and give all Mexicans access to the financial markets. We know it’s a great mission, but we believe SoftBank will be a great ally to achieve it. “
said José Antonio Salazar Guevara, Co-CEO of GBM.