Partnership empowers investors with the technology they need to invest in fractional shares of U.S. equities
JERSEY CITY, N.J., March 29, 2022 –– DriveWealth, LLC, a pioneer in fractional investing and embedded finance, and Sproutfi, a social-first investment platform which offers securities through its affiliate Northbound Securities LLC, today announced a partnership to expand affordable access to investing in the U.S. markets to everyone in Latin America. Accounts opened through the Sproutfi platform will be held at DriveWealth. Leveraging DriveWealth’s real-time fractional trading technology, users can invest in the U.S. markets with as little as $1, while making investing inclusive and educational through Sproutfi’s community-based mobile experience*. Fractional trading allows investors to trade and hold fractional share quantities of less than one full share (e.g. 0.45 shares) in their account.
Previously, investing in the U.S. markets was an isolating experience for Latin Americans, as investing was perceived to have been reserved for high-net-worth individuals with an in-depth understanding of the markets. While 46 percent of the population in Latin America do not have access to financial services according to the World Bank, technology is driving financial inclusion in numerous ways. As many first-time investors are turning to social networks to learn about investing, Sproutfi is providing the technology they need to make investing deeply social. Through easy-to-use investment products, educational content, and social networking tools, users can access community insights to learn about investing from their friends.
“We believe in the power of learning by doing here at DriveWealth and Sproutfi is doing just that – they’re making it easy for communities to learn how to invest by removing the traditional barriers that have previously held them back,” said Bob Cortright, Founder and CEO of DriveWealth. “We’re excited to launch our partnership to further expand affordable access to investing for the Latin American population.”
“In order to democratize investing throughout Latin America, we needed to partner with an experienced broker that our users could trust to hold their assets. DriveWealth does exactly that. The company’s history of performance, transparency, and dedicated support is unlike our experience with other platforms – our users can now access the U.S. markets with confidence,” said Ruben Guerrero, Co-Founder and CEO of Sproutfi. “Thanks to this partnership, all investors in Latin America can easily access the technology they need to build long-term wealth in collaboration with their friends, family members, and online communities.”
Communities throughout Latin America will now be able to invest on a dollar equivalent basis (i.e. fractional shares) in over 6,000 U.S. securities and ETFs, making investing in the U.S. markets affordable and accessible.
About DriveWealth
DriveWealth, a pioneer of fractional equities trading and embedded investing, is a visionary technology company which empowers more than 100 partners around the world to engage their customers by placing the markets in the palm of their hand. We believe the future is fractional, transactional and mobile. Every mobile device should be a gateway to accessing investing and savings products, services, advice, and assistance for global citizens of all ages, wealth stages, and levels of financial expertise. DriveWealth’s consultative support and cloud-based, modern technology platform allow partners to seamlessly offer branded investing experiences to drive customer acquisition, loyalty, retention, and revenue growth. DriveWealth’s commitment to continuous evolution and innovation makes it an ideal partner for Sproutfi. For more information, please visit drivewealth.com or connect with us on Twitter @DriveWealth or on LinkedIn.
About Sproutfi
Founded in February 2021 by Ruben Guerrero and Tyler Richie, Sproutfi is an investment company with operations throughout Latin America which allows investors to invest in U.S. stocks and ETFs with only U.S. $1 through its U.S. broker affiliate Northbound Securities LLC, with no minimum value required for the account and no commissions. It also works as a social network through which customers receive financial education content and share investment ideas — sharing knowledge, discovering new products, and learning how to best allocate their resources. Download Sproutfi’s app to learn more.
*Please be advised that Fractional Trading has unique risks and limitations that you should understand prior to participation in DriveWealth’s Fractional Share Program. Please refer to DriveWealth’s Trading Disclosure for additional information.
Media Contacts
Emily Baldwin, DriveWealth
Email: [email protected]
LinkedIn: linkedin.com/in/emilycbaldwin/
