DriveWealth partners with Racional App to provide affordable access to the U.S. stock market for Millennial and Generation Z investors in Chile

DriveWealth technology democratizes U.S. investment opportunities for Chilean population

DriveWealth, LLC, a pioneer in fractional investing and embedded finance, today announced a partnership with Vector Capital Corredores de Bolsa SpA, a broker dealer which partners up with Racional. Racional is a Chile-based, mobile-first investment platform that enables millennials and Gen Z investors to easily save using passive low-cost portfolios to achieve their financial goals. Leveraging DriveWealth’s real-time fractional trading technology and API-based brokerage infrastructure, Chilean investors will gain affordable access to investing in U.S. equities for the first time.

Previously, access to U.S. investing required high minimums and was reserved for high-net worth individuals with international accounts, leaving most of Chile’s population without access. Racional users, through Vector Capital, a broker dealer under the supervision of the Financial Market Commission (CMF), will now be able to invest on a dollar equivalent basis (i.e. fractional shares) in over 6,000 U.S. securities and ETFs, allowing everyday investors to invest with no minimum requirements through their own account in the U.S. Racional’s all-in-one investing platform is especially beneficial for younger generations, such as millennials and Gen Z, as it enables them to begin investing directly in the U.S. markets starting with less than $10.

“Creating affordable access to investing in the U.S. markets through embedded investing is a critical step towards the global democratization of financial services,” said Bob Cortright, founder and CEO of DriveWealth. “We’re excited to partner with Racional App and Vector Capital to remove the traditional barriers to investing in the U.S. markets for the Chilean population so they can become owners of their financial futures and build long-term wealth on their own terms.”

“This is the most relevant milestone for the Chilean industry in decades. Currently only 2.7 percent of the Chilean population has access to a brokerage account, and just a few of those have the resources to invest outside of Chile’s local stock market. Now, and thanks to the partnership with DriveWealth, the U.S. market is easily accessible to all the Chilean population,” said Boris Garafulic Domínguez, CEO of Racional. “This is a key step in our road to becoming the definitive all-in-one investing app for Latin America.”

Related News