GBM is a 35-year-old Mexico City-based brokerage that historically served high-net-worth individuals and institutional clients. Over the past decade it has ramped up digital efforts and in the last five years evolved to offer its products to all Mexicans through its app, GBM+, which organizes and invests clients' money via Wealth Management, Trading and Smart Cash. The company reported rapid account growth, from 38,000 investment accounts in January 2020 to more than 650,000 by the end of 2020 and over 1 million by Q1 2021 (more than 30x growth since early 2020). While most clients are retail, GBM also services global firms such as Netflix, Google and BlackRock and covers 40% of the largest public corporations in Mexico. GBM has roughly 450 employees, about half of whom are tech professionals, and plans continued hiring as it focuses on B2C and B2B growth and expansion into new verticals. The company says it will invest heavily in customer acquisition and expand its financial-education offerings to increase investor penetration in Mexico.

Total raised

$150M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2021