Mexican digital bank Flink to launch commission-free investing service

Flink, a Mexican fintech and digital banking leader, plans to launch a commission-free investing service for its more than 120,000 users, positioning the startup as one of the most aggressive digital challengers to Mexican financial services. Less than 1% of the country’s citizens have an investment account, but this move by Flink will make investing widely available.

The investment model the startup will offer is called fractional shares, which means that Flink customers (Flinkers) will be able to acquire a fraction of a single share with as little as 20 Mexican pesos (approximately $1 USD). This allows customers to own a piece of some of the world’s largest companies like Amazon, Facebook, Tesla, Netflix and Coca Cola to name a few. Fractional share investing differs from the traditional investment brokerage experience, in which you must buy a whole share of a company. Company shares can cost up to $1,000 US dollars (19,000 Mexican pesos) or more which can make trading certain stocks out of reach.

From this perspective, Flink seeks to democratize access to financial markets for Mexicans and break the mold for investing.

“We are part of a younger generation that feel frustrated and ignored. That’s why we started Flink, to find problems that a large part of the population have and develop our solutions around them. It was clear that most of the people in Mexico don’t have access to this type of service, due to steep trading commissions and high minimums for opening brokerage accounts. As such, we are very proud to be the bridge for many young and first-time investors to start venturing into the stock markets. We strongly believe if more people have access to the investment ecosystem from an early age, our society will improve. Our philosophy is simple, we want to create a strong connection between our customers’ needs and Flink’s services so people say, ‘I'm using Flink, so I have the best products in the market’,” said Sergio Jiménez, CEO and co-founder of Flink.

Highlights of Flink’s commission-free investing service include:

This product is set to launch in the second quarter of 2020, however it has already generated significant interest from the Flink community so the startup has made a waitlist available for users who want access. To register, click on the following link. 

Flink’s expansion into commission-free investing strengthens an already robust product lineup. In addition to a digital account and international Mastercard, Flink offers peer-to-peer payments, bank transfers, budgeting tools, goal-based savings, bill-payments and bill-split services. With the launch of an investment service, Flink takes another big step towards becoming the digital bank for young Mexicans and a pillar of the LATAM fintech industry.