On December 11th, Brazil’s largest digital broker by equity-trading volume went public on the American stock market. The company is XP Inc. and, according to Bloomberg, its IPO was the fourth largest in the US in 2019, after listings by Uber Technologies Inc., Avantor Inc. and Lyft Inc.
XP Inc.’s shares closed at $34.46 on the first day of its listing and its recent market value of $19 billion makes it more valuable than Brazil’s biggest standalone investment bank, Banco BTG Pactual SA (worth $15.7 billion according to Bloomberg).
XP Inc. has been at the forefront of changing the way Brazilians invest and has made financial markets more accessible than ever to people in the country. The company started off in a small office in Porto Alegre, Brazil, and grew its client base by leveraging educational content, mindful investment advisory, and accessible apps.
XP achieved over a million clients because they understood what many of their competitors didn’t - that by distributing knowledge and quality information, they’d be able to make people understand the value of their services. It is important to note, however, that past performance does not guarantee future results.
Luckily, there’s a way to start investing in US stocks commission-free¹ and from the palm of your hand with as little as $1.²
With the Passfolio App, users can easily convert local currencies from Latin America, Europe and Africa into US dollars to buy over 3000 ETFs, REITs, and US stocks. Passfolio also supports fractional shares, so its users can choose to buy and sell pieces of stock as a more affordable alternative to owning full shares. The easiest way to invest in XP is only a download away.
To start investing with Passfolio, all you have to do is download the app and create an account. Just remember to have a proof of address and an ID document with you, but don’t worry - you don’t have to be an American to sign up. Once your account is approved, you’ll be able to deposit funds and begin investing in the US stock market!
Also, the first 100 new users to use the promo code INVESTIRNAXP will earn $5 in XP Inc. stock.³ What are you waiting for? Sign up!
¹Please see our disclosures on other charges.
² Securities less than $5 cost $0.02/share. Please see our disclosures on other charges.
³Please see our Promo Code disclosure.
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Passfolio is a San Francisco fintech company democratizing investment opportunities by creating a unified, global, and borderless investment market starting with the United States Stock Market.