Sprout

Sproutfi, operating as Vest, is a financial technology company focused on democratizing access to U.S. financial markets for investors in Latin America. The firm was established in February 2021 by co-founders Ruben Guerrero and Tyler Richie, who bring a wealth of experience from prominent financial and tech institutions such as Goldman Sachs, E*Trade, and Nubank. Guerrero's background includes building products for retail investors at E*Trade and leading Latin American expansion for trading technology firms, while Richie was an early data scientist at Nubank before working at a blockchain startup.

The company operates as a social-first investment platform, targeting a clientele that includes both beginner and experienced investors looking for accessible opportunities in the U.S. market. Sproutfi's core service allows users to invest in thousands of U.S. stocks and ETFs with as little as $1, charging no commissions or requiring account minimums. This is facilitated through a partnership with DriveWealth, which provides the underlying brokerage services and real-time fractional share trading technology. Accounts opened through Sproutfi are held at DriveWealth.

A key aspect of Sproutfi's business model is the integration of social and educational features. The platform is designed as a community where users can share investment ideas, learn from one another, and access financial education content. This approach aims to make investing a collaborative and less intimidating experience, particularly for first-time investors in a region where a significant portion of the population lacks access to financial services. In October 2022, Sproutfi significantly expanded its footprint by acquiring the Brazilian client portfolio of Passfolio, a move that added approximately 200,000 accounts and enhanced its market presence. The company was acquired by Vest Investments in July 2023.

Keywords: Latin America investment, fractional shares, U.S. stocks, social investing, fintech, financial inclusion, stock trading app, ETF investing, zero-commission trading, investment platform, financial education, DriveWealth partnership, Ruben Guerrero, Tyler Richie, Vest, Passfolio acquisition, wealth management, community investing, mobile brokerage, emerging markets finance