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Washington Capital Expands Business with Fintech Acquisition

Washington Capital acquires X Prime, targeting first-time stock market entrants, particularly young investors. The family office aims to raise $10 million and attract 1,500 retail investors by 2024. Washington Capital will manage portfolios focusing on structured notes with low-risk investment alternatives, including bonds indexed to inflation, interest rates in the U.S., and bonds of Argentine companies under new free market conditions.



Washington Capital

More and more Peruvians are interested in improving and diversifying their investments. However, Peru still has a financial scenario in which the Stock Exchange (BVL) is often left out of consideration by retail investors due to a lack of knowledge of the stock market world or due to the high prices to enter to invest. In this context, Washington Capital has acquired the fintech company X Prime.

Read more about the acquisition of X Prime by Washington Capital and find other important business news from around the world with our companion app Born2Invest.

Washington Capital completed the acquisition of X Prime with entrance tickets from $3,000

“The reach that X Prime has with people who are entering stock markets for the first time, especially with young profiles ranging from 25 years old, attracted us a lot. To this we must add that the investments are made through a consolidated platform and with simple language,” added Washington López, CEO of the company.

The family office aims to raise $10 million during the first year and attract 1,500 retail investors by the end of 2024, thus marking a significant step in X Prime’s regional expansion.

“With this acquisition we want to accelerate the scalability of X Prime and provide it with the support of our investment team with low-risk investment alternatives such as structured notes,” López added.

Profile of Washington Capital

With an entry ticket starting at $3,000, the portfolios Washington Capital will manage are focused on structured notes that range from bonds indexed to the inflation rate and interest rates in the United States, to bonds of Argentine companies with high growth potential under the new free market conditions.

The structured note is a guaranteed annual income product. It operates with rates, in soles, from 10% within one year and up to 14% within 5 years. In dollars, with rates from 8% within one year to 10% within 5 years. In the case of notes in Argentina, they are also vehicles that allow returns to be capitalized with a rate of 11% over a period of 3 years, and up to 13% over a period of 5 years.

“We aim to enable retail investors to diversify their surpluses with a combination of low risk and guaranteed returns,” concluded Washington López, CEO of Washington Capital.

It should be noted that Washington Capital has the support of the Argentine conglomerate Consultores Asset Management, the firm of Eduardo Elsztain, one of the main sponsors of the campaign of current president Javier Milei.


(Featured image by Tima Miroshnichenko via Pexels)

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First published in Economia. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.