Flink, a Mexican investment platform, will expand to Colombia in the coming year

MEXICO CITY, (Reuters) - Flink, a Mexican investment platform, will start operating in Colombia in June/ July as part its Latin America expansion plan. Sergio Jimenez, chief executive of Flink said Thursday.

Flink, a Mexican investment platform, will expand to Colombia in the coming year

Jimenez stated that the platform allows subscribers to invest in fractions shares of U.S.-listed companies. It will also include Mexican debt instruments like state bonds to diversify its investment portfolio.

Flink is for first-time investors. You can start with as little as 30 pesos ($1.46).

According to company data, around 300,000 Mexicans owned investment accounts in 2019. This is less than 1% of the country's population.

Flink currently has 1.6 Million subscribers and hopes to grow to 4,000,000 by 2022.

"The average ticket for newcomers starts at $1 or $2. But it can reach $32 by the end of the fourth month." Jimenez said that people feel more confident when they know the market.

To give clients the opportunity to buy fractional shares, the company launched the platform with U.S. listed companies. Jimenez stated that foreign enterprises are more appealing to customers.

Flink shared data that showed Tesla (NASDAQ : TSLA) Inc., Apple Inc. (NASDAQ : AAPL) & Amazon.com Inc. (NASDAQ : AMZN) were the top three companies where users have invested the most over the past 12 months.

Flink was originally created to offer digital banking solutions. However, Jimenez said that Flink later decided to "focus on providing people access to the market."

Flink is working closely with regulators to modernize Mexico’s brokerage system. Jimenez stated that although Mexico's legal framework doesn't allow digital brokerage onboarding, it is one of the biggest obstacles to market access.

He said that investors must visit a brokerage in person to open investment accounts.

Flink also wants to expand to countries such as Peru, Chile, and Argentina. Jimenez said that Flink aims to "work around regulatory restrictions to land more investment opportunities" for its users.

($1 = 20.5550 Mexican Pesos