Sproutfi Acquires Passfolio’s Client Portfolio
Gunderson Dettmer represented client Sproutfi, an investment platform used to invest in US financial markets, in the announcement of its acquisition of Passfolio’s client portfolio in Brazil. The acquisition will allow Passfolio users with a platform to invest in the US market with Sproutfi. New users will have access to Sproutfi’s investment platform, financial education content, and collaborative spaces to share information collectively. During the migration, Passfolio clients will also have access to Northbound Securities LLC’s investment services via Sproutfi’s platform to continue investing in US market.
In the announcement of the transaction, CEO and co-founder of Sproutfi Ruben Guerrero said, “With this, we are ensuring that all users maintain their investment options in the US market in a safe and transparent way. We want to be the best investment platform in the world for Latin America. We know our users, we know how to listen. This is our greatest commitment, and this is how we build our customers' freedom together.”
The Gunderson Dettmer deal team was led by Christel Moreno and included Eduarda Tavares.