Amsterdam, November 3, 2021 - Today BUX launched its commission-free investing app, BUX Zero, in Spain. Following its recent $80 million funding round, BUX continues its ambitions to offer a first-class investing experience for all Europeans. Spain is the seventh country where BUX now operates. With more than 600,000 clients, BUX is Europe’s fastest growing mobile broker.
"The launch of BUX Zero in Spain marks a milestone in the race to offer a more accessible and intuitive investment experience for everyone. We believe that those who want to build future wealth can do so with the right guidance and a platform that makes buying and selling shares more intuitive and affordable, said Yorick Naeff, CEO of BUX."
Spaniards saved more during the first year of the pandemic than ever before. The savings rate reached 14.8% of disposable income in 2020 according to the Bank of Spain, the highest amount since the first study in 1995. Lockdowns and restrictions caused Spaniards to stockpile savings estimated at around 30 billion euros.
Bridging the investing knowledge gap with in-app Newsroom
In research conducted by Kantar on behalf of BUX, 34% of Spaniards who are not investing cite “a lack of knowledge” as the primary reason why they do not invest. This knowledge gap is common across Europe and BUX aims to provide resources for clients to help make more informed investment decisions.
BUX Zero clients will now find the Newsroom where they can access daily financial and stock market related news based on the client’s investment portfolio and interests. Additionally, BUX also offers weekly jargon-free stock market news written by an in-house editorial team. Additionally, clients can also build their knowledge base in BUX’s Knowledge Center through articles and educational videos that explain investment topics in simple terms within minutes. By providing investors with the right tools, BUX aims to empower its clients to make sound financial decisions that allow them to build wealth for the future.