GBM raises $150M for digital expansion

LatamListGBM, a Mexican investment platform, raised $150M from SoftBank for digital expansion. The company is also Mexico’s newest unicorn.

GBM (Grupo Bursátil Mexicano) is a 35-year-old investment platform in the Mexican stock market. The company provides investment services to both individuals and local and global institutions.

In recent years, the company has worked to transform the platform’s technology to reach more Mexicans. In the past year, GBM has grown from 38,000 accounts to more than 650,000.

“It’s very interesting to look back on our growth as a company because we have been serving clients for many years but have only recently taken off thanks to the new technology we have implemented,” said Pedro de Garay, co-CEO of GBM.

GBM has been able to reach more clients across Mexico through the digitalization of its services. With the new funding, the company will expand its portfolio of products and services, hire new talent to the team, and work towards providing financial education to the millions of under-banked Mexicans.

“There is much to do in terms of financial education and helping the public to make better decisions with their money. There are billions of dollars saved in banks that could be reinvested, and we want to create events, hold masterclasses, webinars and more, to help people understand how to make the best financial decisions that will have a positive impact in their lives,” Garay said.

Read more on Forbes.

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