BROXEL SUCCESSFULLY ISSUED $31.2 MM DEBT CERTIFICATES IN THE MEXICAN PUBLIC MARKETS

BROXEL BECAME THE FIRST MEXICAN FINTECH WITH LISTED SECURITIES

MEXICO CITY, Oct. 17, 2022 /PRNewswire/ -- Broxel became the first Mexican fintech company with listed securities through the successful issuance of $31.2mm debt certificates in the Mexican public markets, out of US $100 million Public Debt Program approved by Mexican Authorities and Rating Agencies (Moody's and HR) with the objective to potentialize its growth for the coming years.

Broxel is a 100% privately owned Mexican tech company, focused on building tailor-made financial ecosystems available anytime and anywhere. The company was founded in 2011 to offer value-added services and products for B2B customers, providing a financial ecosystem to manage their resources. In 2021, Broxel announced a partnership with Google to develop a fintech marketplace for LATAM companies, as well as infrastructure, data analysis and product readiness.

After a first decade being successful on the B2B side, with more than 13 million accounts, Broxel decided to offer financial technology solutions to end users. In 2021, the company launched its B2C vertical, taking advantage of the same core and platforms.

Today, Broxel´s B2C solution allows users to open an account in Mexico in MXN $ (pesos), and in the same app, an account in the U.S.$ (dollars), both with Mastercards accepted worldwide. Once the users are enrolled, they can remit money for free: a borderless financial solution for the hispanic population in the U.S., and a relevant economic disruption through innovation and technology.

In 2021, $51 Billion dollars were sent by the Mexican community to their families, making remittances the first source of currency of Mexico, above oil exports. In 2022, remittances are expected to exceed $60 Billion dollars. Broxel was recently invited by The Clinton Global Initiative, to participate in the inaugural cohort of the Greenhouse Entrepreneurial initiative, due the potential impact of its platform for empowering the Hispanic community in the U.S.

Key figures

• 960 employees.
• 13.1 Million issued accounts
• 3K B2B clients
• Started B2C operations in 2021.
• 4 regulated entities in its corporate structure
• Focus on cash flow generation and profitable projects since inception
• Google as a partner for infrastructure, data analysis and product readiness
• Only company in the U.S. to offer a 360 borderless - digital solution for the hispanic market

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About Broxel

Broxel is a leading payment technology company in Latin America. Since 2011, Broxel has offered tailored financial services for companies, institutions and consumers. 12 million cards have been issued by Broxel. The company is a partner of AT&T and Google Cloud, and has licensing deals with MasterCard, VISA and Carnet. Broxel is committed to enhancing financial experiences through innovation and technology. 

Contact: José Luis Anton / VP Communications
+525543441857 
jose.anton@broxel.com

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SOURCE Servicios Broxel