What Becerra Bursatil does

Becerra Bursátil S.A. (BBSA) is a privately held Argentine brokerage firm founded in 2003 and headquartered in Córdoba, Argentina. The company operates as a multi-market intermediary offering direct market access to the principal Argentine capital markets (ByMA, MAV, Matba-Rofex, MAE) as well as global market access through NYSE correspondent broker-dealers under CNV's "Operaciones por Mandato en el Exterior" framework. Its product portfolio spans four core service lines: (1) brokerage execution across equities, fixed income, and derivatives; (2) Carteras Administradas, a discretionary managed-portfolio service with weekly client reporting; (3) Fondos Comunes de Inversión (FCI) distribution under its CNV Colocador Integral registration No. 10; and (4) primary-market subscription services for public and private issuer placements. A dedicated SME financing vertical (Financiamiento PyME), operated in partnership with the country's main SGRs, extends the offering into capital-markets-based SME lending.

BBSA generates revenue primarily through transaction-based brokerage commissions, supplemented by managed-portfolio management fees, FCI placement commissions, and primary-market placement fees. The go-to-market is predominantly direct and relationship-driven: account opening is free, the firm publishes a transparent tariff table, and clients execute orders through in-person meetings, phone, email, or the Virtual Broker online platform. Customer segments are split between individual investors (primary) and institutional investors (primary), with SMEs as a secondary vertical. The firm maintains CNV and UIF regulatory registrations and is led by Gonzalo Becerra as the Responsible Party before the CNV. Technology investment is concentrated in the Virtual Broker client portal; no proprietary AI/ML, mobile app, or public API is in evidence.

Name

Becerra Bursatil

Legal name

Becerra Bursátil S.A.

Website

https://bbsa.com.ar

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Becerra Bursátil S.A. is a privately held Córdoba-based Argentine brokerage offering direct market access to local (ByMA, MAV, Matba-Rofex, MAE) and global (NYSE) markets, plus managed portfolios, mutual fund distribution, and SME financing for individual and institutional investors.

Ownership category

akta.pro rank

Headquarters

HQ city

Córdoba

HQ country

Argentina

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage commissions: BBSA charges transaction fees for trading operations across local and global markets. The fee schedule is available publicly via a downloadable tariff table. Execution of orders in renta fija (fixed income), renta variable (equities), and derivatives generates per-transaction revenue.
2. Managed portfolios (Carteras Administradas): Revenue is generated through management of client portfolios, where clients delegate investment decisions to BBSA's professional team. The service includes weekly portfolio composition and return reports.
3. Investment fund distribution (FCI): BBSA, registered as CNV Integral Placement Agent No. 10, earns fees by placing clients into mutual funds (Fondos Comunes de Inversión) directly from their trading accounts without needing a separate cuotapartista account.
4. Primary market subscription: BBSA actively participates in public and private issuer securities placements, earning placement fees from bringing new securities to market for both retail and institutional investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Becerra Bursátil S.A. is a Córdoba-based Argentine brokerage firm (sociedad de bolsa) registered with the CNV that executes orders and provides advisory services across local capital markets (ByMA, MAV, Matba-Rofex, MAE) and global markets (NYSE) for individual and institutional clients. Its core offerings include discretionary managed portfolios (Carteras Administradas), mutual fund placement (FCI), primary market subscription, derivatives and risk-coverage advisory, and SME financing facilitation through SGR guarantee partnerships.

Product overview

Becerra Bursátil S.A. is a comprehensive brokerage platform offering a portfolio of investment products and services. The core offerings include: Carteras Administradas (discretionary managed portfolios) for clients delegating investment decisions to professional management, and Fondos Comunes de Inversión (collective investment funds) combining professional management with high liquidity. The platform provides Direct Market Access to local markets (ByMA, MAV, Matba-Rofex) for fixed income, equities, and derivatives, as well as access to global markets (NYSE) for stocks and ETFs. Additional services include primary market subscriptions, risk coverage/derivatives advisory, SME financing facilitation, and institutional investor services. The company operates as a single unified brokerage service with multiple specialized product lines serving both retail and institutional clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Carteras Administradas (Managed Portfolios) Discretionary portfolio management service in which clients delegate investment decisions to BBSA's professional team, which seeks a balance between risk and return through diversified asset allocation across local and global instruments; clients receive weekly portfolio composition and return reports.
• Fondos Comunes de Inversión (FCI) Placement Distribution and placement of Argentine mutual funds (Fondos Comunes de Inversión) under BBSA's CNV Integral Placement Agent registration (No. 10), enabling clients to subscribe to FCI directly from their trading account without a separate cuotapartista account.
• Acceso a Mercados Locales (Local Market Access) Direct execution access to Argentine local markets — ByMA (equities and fixed income), MAV (forwards), Matba-Rofex (financial, agricultural, and commodity futures and options), and MAE (electronic fixed income) — for trading fixed income, equities, and derivatives.
• Acceso a Mercados Globales (Global Market Access) Access to global markets via correspondent broker-dealers on the NYSE, under CNV's Operaciones por Mandato en el Exterior modality, enabling clients to trade US stocks and ETFs covering commodities, indices, currencies, sectors, and regions.
• Suscripción Mercado Primario (Primary Market Subscription) Participation in public and private issuer securities placements, connecting issuers to retail and institutional investors through the firm's CNV-registered placement capabilities.
• Cobertura de Riesgo (Risk Coverage Advisory) Risk coverage and derivatives advisory service enabling clients to operate financial, agricultural, and commodity derivatives on Argentina's futures and options market (Matba-Rofex), with specialized advice on exposure calculation, hedging strategies, and base risk detection.
• Financiamiento PyME (SME Financing) Capital markets financing service for small and medium enterprises, including guarantee management via partnerships with Argentina's main SGRs (Sociedades de Garantía Recíproca), SME bond issuance advisory, and access to competitive interest rates through capital markets instruments.
• Inversores Institucionales (Institutional Investor Services) Service line dedicated to institutional investors in the Argentine local market, providing direct market access, portfolio management, risk hedging, and primary market participation for institutions of different types and regions.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Fundación 180coreOthersFundación 180 is a nonprofit organization that provides multidisciplinary support through projects and activities promoting education for change and social progress in Argentina. BBSA partners with Fundación 180 by organizing an annual financial encounter featuring nationally recognized economists, with all proceeds going to the foundation. The initiative addresses school repetition and dropout rates among children and youth in vulnerable social and economic contexts.
• ForestationminorOthersForestation is a social network connecting individuals, companies, and public or private organizations with environmental interests. BBSA is a CEREZO-category contributor to Forestation, demonstrating the firm's commitment to sustainability and environmental responsibility.
• BYMA (Bolsas y Mercados Argentinos)coreTechnology or IntegrationBYMA is the principal Argentine stock exchange and securities market. BBSA holds a direct membership at BYMA, enabling efficient execution of equity and fixed income orders in the local market. BBSA displays the BYMA logo as a recognized market member.
• MAV (Mercado a Término de Buenos Aires)coreTechnology or IntegrationMAV is the forward market of Buenos Aires. BBSA holds a direct membership at MAV for executing fixed income and derivative instruments in the local market.
• Matba-RofexcoreTechnology or IntegrationMatba-Rofex is the leading futures and options market in Argentina. BBSA holds a direct membership at Matba-Rofex, enabling the firm to offer financial, agricultural, and commodity derivatives to its clients. BBSA links to Matbarofex futures data on its website.
• MAE (Mercado Abierto Electrónico)coreTechnology or IntegrationMAE is an electronic open market for financial instruments in Argentina. BBSA holds a direct membership at MAE, complementing its access to other Argentine capital markets.
• Caja de ValorescoreTechnology or IntegrationCaja de Valores is the Argentine central securities depository. BBSA provides a direct link to the Caja de Valores investor portal (inversores.cajadevalores.com.ar) for account holders to access their depository records.
• CNV (Comisión Nacional de Valores)coreTechnology or IntegrationCNV is the Argentine securities regulator. BBSA is registered and responsible before CNV. The firm links to CNV's regulatory framework page and is listed with a CNV registration. Gonzalo Becerra serves as the responsible officer before CNV.
• BolsarcoreTechnology or IntegrationBolsar is the official information platform for Argentine securities markets. BBSA provides a direct link to Bolsar for its clients to follow market quotes and data.
• BB PyMEsminorChannel Partner/ Reseller/ DistributorBB PyMEs is a platform dedicated to SME financing through capital markets. BBSA collaborates with BB PyMEs to connect its SME clients with financing opportunities in the capital markets. BBSA displays the BB PyMEs logo and provides a link to the platform.
• SGRs (Sociedades de Garantía Recíproca) — multiple partnershipscoreChannel Partner/ Reseller/ DistributorBBSA has agreements with the main SGRs (Sociedades de Garantía Recíproca) in the country. SGRs facilitate access to capital markets financing for small and medium enterprises through guarantee mechanisms. BBSA's specialized area guides clients through the guarantee and negotiation process for financial instruments.
• NYSE correspondent broker-dealerscoreTechnology or IntegrationBBSA provides access to global markets through correspondent broker-dealers on the New York Stock Exchange (NYSE). This enables clients to trade US equities and ETFs (covering commodities, indices, currencies, sectors, or regions) under CNV's 'Operaciones por Mandato en el Exterior' regulation.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Banco Comafi (brokerage division): Mid-sized Argentine bank with retail brokerage and asset management offerings. Comparable to BBSA at the product level but competes from a balance-sheet-led incumbent position.
• Banco Galicia (brokerage / Galicia Asset Management): Largest private Argentine bank with deep capital-markets, brokerage, and fund distribution capabilities. Represents the scale-incumbent benchmark BBSA competes against in retail and SME financing.

Direct peers

• Balanz Asset Management (LCI): Argentine fund manager (LCIs) distributed through Balanz's brokerage platform. Comparable in managed-portfolio and mutual fund distribution mechanics.
• Cohen (Inversiones Cohen): Independent Argentine broker specializing in institutional execution, fixed-income, equities, and managed portfolios. Closely comparable to BBSA in business model, fee structure, and 'specialist boutique' positioning within Argentine capital markets.
• Adcap Securities Argentina: Independent Argentine broker with institutional and corporate focus on equities and fixed-income. Comparable given niche independent-broker positioning similar to BBSA.
• Bull Market Brokers: Online-focused Argentine retail broker providing equities, fixed-income, and dollar-MEP trading via a self-serve platform. Direct peer given shared CNV-registered retail brokerage model, though tilted more digital than BBSA's hybrid offering.
• PPI (Portfolio Personal de Inversiones): Argentine retail broker-dealer offering local and international market access, managed portfolios, and mutual funds. Directly comparable to BBSA across product line-up, with stronger digital brand recognition.
• Mariva Bursátil: Argentine broker offering equities, fixed-income, derivatives, and managed portfolios with multi-market memberships. Overlapping product set and distribution model with BBSA.
• Balanz Capital: Argentine broker-dealer and asset manager offering brokerage, managed portfolios (LCI/Carteras), and mutual funds across local and global markets. Most direct Argentine comp for BBSA given overlapping product set in discretionary portfolios and market access.

Emerging players

• XP Inc. Brazilian-origin digital brokerage platform that has expanded across Latin America, including Argentina. Comparable as an emerging retail-investor franchise threatening traditional mid-market brokers like BBSA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/becerrabursatil
• Instagraminstagram.com/becerra.bursatil

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Becerra Bursatil