GBM becomes the new Mexican unicorn with investment of 150 million dollars from SoftBank

June
8, 2021

4 min read

This story originally appeared on Alto Nivel

Today the Mexican Stock Market Group (GBM) announced that it reached an agreement with the SoftBank Latin America Fund through which it will make a minority investment in the leading investment platform that allows millions of Mexicans to invest and achieve their financial freedom. SoftBank will be investing up to $ 150 million , valuing GBM’s operating subsidiary at more than $ 1 billion, according to a statement.

That said, the company plans to use the resources obtained in the investment round to accelerate its growth in all the business lines in which it operates today and to expand into new business verticals.

In addition, GBM will continue to promote the democratization of investments in the country, as well as promote financial education so that Mexicans can have control of their finances.

Likewise, the company will continue to focus on consolidating its talented team, which currently includes 450 collaborators who provide a lot of experience acquired in the world’s large financial and technology companies. They also seek to attract the best talent in the area and optimize their investment products.

“GBM’s objective is to turn Mexico into a country of investors. For the past 35 years, GBM has been a leader in the investment world. Today, thanks to our investments in technology, we can provide our services to anyone in Mexico through GBM +. In addition, we will continue to invest in offering the best products and services in the market to institutional and corporate clients, as well as creating the best base of external advisers in the country. SoftBank is investing in the companies that are transforming the world and GBM is no exception. We are pleased to partner with them as we advance our mission to democratize investment in Mexico. “ Pedro de Garay Montero, GBM Co-CEO, pointed out.

GBM leads the stock market in the country, has a participation of more than 16% in capital market operations and more than 800 billion in assets in custody. The company aims to scale the limited supply of quality financial services in Mexico, which is currently dominated by large banks.

As digital transformation has accelerated, GBM has continued to scale digital transformation. According to the National Banking and Securities Commission (CNBV), in Mexico there were only 298 thousand brokerage accounts at the end of 2019, while, at the end of last year, the number had increased to 940 thousand accounts. At the same time, GBM went from having 38 thousand investment accounts to having more than 650 thousand, increasing from 8% to 70% its participation in the total investment accounts in Mexico. It was since March of this year when GBM managed to reach the goal of one million brokerage accounts.

“Over the past 35 years, GBM has built an unprecedented position with world-class equipment and innovative technology. In our quest 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 that is transforming wealth management in Mexico with its mission of making the investments accessible to all Mexicans. “ 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 financial markets. We know that it is a great mission, but we are convinced that SoftBank will be a great ally to achieve it “
said José Antonio Salazar Guevara, Co-CEO of GBM.