Accel led a US$12m Series A in Flink, a Mexican consumer trading platform with participation from ALLVP, Clocktower, and angels Kevin Efrusy and Oskar Hjertonsson, and follow-on from Raptor Financial Group. Flink was co-founded by former Easy Credit founder Sergio Jimenez Amozurrutia. Latinia made an undisclosed investment in 2019 through its CVC arm.
(TechCrunch) – Here in the U.S., we take for granted the ability to invest and trade in the stock market. So while we can get in an uproar about the various ways Robinhood may or may not be acting responsibly, it can be easy to forget that not everyone in the world has the same access to potentially making — or losing — money via trading as we do.
For Mexico City-born Sergio Jiménez Amozurrutia, the fact that in his country of more than 120 million people, only a tiny fraction of the population have the ability to invest in the capital markets just didn’t seem right. To him, the lack of widespread participation in investing is an example of the rich getting richer as part of an infrastructure “that is built for the wealthy.” The result of the imbalance is that a lot of people are locked out of making potentially wealth-building investments.
Read more at TechCrunch.