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.