Latin America startup, Vest launched a mobile-first brokerage software

StartUp City | Monday, February 21, 2022

Vest, a startup that has released a mobile-first brokerage software with zero-commission trading in America

FREMONT, CA: Vest, a startup that has released a mobile-first brokerage software with zero-commission trading in America, is a new option for Latin Americans looking to invest in companies trading on the Nasdaq and New York Stock Exchange. Aaron Polhamus, CEO and co-founder, said he, Miguel Arroyo, and Jaime Rodas were inspired to launch Vest in December 2020 because they believe that while Latin Americans work hard for their money; their money has historically not worked hard for them.

Vest seeks to provide direct access to U.S. equities investments to retail investors in all major Latin American economies, as well as in the United States, to assist solve this problem. Today, this means the company runs an active brokerage, allowing consumers to purchase equities listed on the NYSE and Nasdaq. However, the firm intends to expand its platform in the near future to incorporate a passive investing product (robo funds) as well as cryptocurrency. It intends to build both active and passive products with the same user interface so that investors can use both strategies in the same place, rather than the fragmented, multi-platform experience that is the norm today, according to Polhamus, who was previously the CTO of Mexican fintech Credijusto.

Recognizing that not everyone with an interest in investing has the necessary financial literacy, Vest has created a market simulation environment for learning and practicing for people with no prior financial experience, according to Polhamus. In-app material teaches investing fundamentals and provides insight into current events and economic trends, as well as native multi-lingual support. Vest's platform is available across Latin America, as well as in the United States states of Arizona, California, Florida, Georgia, New Mexico, New York, Texas, Washington, and Puerto Rico. It allows users to connect to local banking in the United States, and the company is also working to expand direct local banking integrations to other major regions in LatAm.

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