“My vision is that over the next two years, our brokerages will be ranking among the top three brokers in every country” where the company already has a presence, he added.
Founded in 2016 by former Alibaba Group Holding and Xiaomi employee Anquan Wang, Webull offers zero-commission trading services for retail investors, and operates in 15 markets in Asia, Latin America and Europe. It is affiliated with Chinese holding company Hunan Fumi Information Technology. The firm saw its popularity surge during the meme-stock frenzy in 2021, and accumulated 4.3 million funded accounts by the end of 2023, with US$8.2 billion of customer assets.
In February, Webull announced that it had reached a merger agreement with blank-check company SK Growth Opportunities to list its shares on the Nasdaq through a SPAC deal. The company has been profitable for the past two years, making it an opportune time to go public, Denier said.
The IPO, expected to…
