Link Securities

What Link Securities does

Link Securities SV, S.A. is a Madrid-headquartered independent Spanish securities firm (Sociedad de Valores) founded in 1992 and operating under multi-layered regulatory oversight — CNMV (registration 141), Banco de España (registration 3641), and BME CLEARING membership (code A130). The firm runs three integrated business lines: Investment Banking (debt issuance, equity capital markets, M&A advisory), Brokerage/Intermediation (derivatives, investment funds, ETFs, fixed income, equities), and Wealth Management (discretionary portfolio management plus proprietary funds including the Momento Europa mixed fund and the LinkFactor Trade Receivables securitization fund).

The technology layer centers on a proprietary online brokerage platform (Broker Online, hosted at plataforma.linksecurities.com) secured by key- and code-based authentication, paired with a digital onboarding flow (board.linksecurities.com). Content infrastructure — specifically a daily market commentary newsletter ("Comentario Diario de Bolsa") covering nine major global indices — functions as the primary client acquisition funnel, with standard third-party integrations (Google Analytics, Facebook Custom Audience/Pixel, Facebook Connect) supporting marketing analytics.

Revenue is generated through three mechanics: transaction-based brokerage commissions on Spanish and international securities, professional services fees from investment banking mandates (including an active stream of corporate pagaré placements closed in 2026 for issuers such as INSUR, LINKFACTOR, SACYR, ONTIME, AGOTZAINA, and SUBSTRATE), and recurring management/performance fees from wealth management mandates and proprietary funds. The customer base is exclusively Spanish-domiciled retail and institutional investors plus corporate clients for IB mandates. In May 2026, Sweden-based Subgen AI AB announced an agreement to acquire a 51% majority stake via a €2 million mandatory convertible loan, projecting Link Securities to contribute approximately SEK 30M in revenue and SEK 5M in EBITDA in its first full year within the group, pending CNMV approval.

Name

Link Securities

Legal name

LINK SECURITIES SV, S.A.

Website

https://www.linksecurities.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Link Securities SV, S.A. is a CNMV-regulated independent Spanish securities firm (founded 1992, Madrid) offering integrated investment banking, brokerage, and wealth management services — including proprietary funds and corporate debt placement — exclusively to Spanish-domiciled investors and corporate clients.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Asset-Backed Securities (6189), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG), Structured Credit & Securitized Products Investing (RMBS/CRT/IO-PO) (FSALAFAG)

Keywords

• Securities brokerage
• Investment banking
• Wealth management
• Fixed income trading
• Portfolio management

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Offices2 records

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 and Intermediation Commissions: Commission-based fees from securities trading, derivatives, fixed income, and variable income intermediation services. Fees are specified in individual contracts with clients and subject to maximum rate schedules published with CNMV.
2. Investment Banking Services: Fees from investment banking services including debt, equity capital markets, and mergers and acquisitions advisory
3. Wealth Management: Discretionary portfolio management and investment fund management services generating management and performance fees

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Link Securities (LINK SECURITIES SV, S.A.) is an independent Spanish securities firm supervised by the CNMV (registration 141), offering investment banking services (debt issuance, equity capital markets, M&A advisory), securities brokerage and intermediation (derivatives, investment funds, ETFs, fixed income, equities), and wealth management services including discretionary portfolio management and proprietary funds (e.g., Fondo Momento Europa, LinkFactor Trade Receivables). Operations are delivered through a proprietary online trading platform (Broker Online) and direct advisory channels to Spanish investors and corporate clients.

Product overview

Link Securities is an independent securities firm (Sociedad de Valores) supervised by Spain's CNMV, offering an integrated financial services platform across three core business lines: Investment Banking (Banca de Inversión) covering debt, equity, and M&A advisory; Brokerage and Intermediation (Intermediación) for derivatives, investment funds, ETFs, fixed income, and equities trading; and Wealth Management (Gestión Patrimonial) including proprietary funds and discretionary portfolio management. The platform also provides market intelligence through its daily commentary service and structured products like the LinkFactor Trade Receivables securitization fund.

Differentiator

Problem solved

Functional benefit

Brands

• Fondo Momento Europa: A mixed flexible equity fund managed by Link Securities with 7.44% annualized return at 5 years.
• LinkFactor Trade Receivables

Products and services

• Investment Banking (Banca de Inversión) Full-service investment banking division covering debt capital markets, equity capital markets, and M&A advisory for Spanish corporate clients. Services include corporate bond issuance, promissory notes (pagarés), IPO support, secondary offerings, and buy-side/sell-side M&A mandates.
• Securities Brokerage and Intermediation (Intermediación) Securities brokerage and trading services covering derivatives, investment funds, ETFs, fixed income, and equities on Spanish and international markets. Access provided via the Broker Online platform and intermediation services for individual and institutional investors residing in Spain.
• Wealth Management (Gestión Patrimonial) Wealth management services for high-net-worth individuals and institutions, including discretionary portfolio management (gestión discrecional de carteras) with customized investment strategies and access to proprietary investment funds managed by Link Securities.
• Broker Online Trading Platform Proprietary online trading platform for securities and derivatives intermediation, requiring secure login credentials and signed client contract. Provides key- and code-based authentication and supports trading of fixed income, variable income, derivatives, and investment funds.
• Fondo Momento Europa Proprietary mixed-asset fund managed by Link Securities with a conservative and flexible profile. 5-year annualized return of 7.44%, 5-star Morningstar rating; 5.7% return from January to April 2026.
• LinkFactor Trade Receivables Invoice-backed securitization fund (programa de pagarés) distributed by Link Securities with 100% insurance coverage and an A- rating from Ethifinance. Provides fixed income investment exposure to trade receivables.

Quantifiable outcome

• Immediately accretive to group profitability

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Emerging players

• DEGIRO: European online broker (now part of flatexDEGIRO) with deep penetration among Spanish retail investors. Competes directly with Link Securities on price-sensitive self-directed brokerage and is a key threat to commission economics in the Spanish market.
• Interactive Brokers: Global low-cost online broker offering equities, derivatives, fixed income, and funds to retail and professional investors. Targets the same self-directed Spanish/European client segment as Link Securities' Broker Online platform but with materially lower commissions and a vastly broader product set.

Direct peers

• Alantra Partners: Spanish independent financial advisor focused on investment banking (M&A, equity capital markets, debt advisory) and asset management. Directly comparable on the IB and wealth management side of Link Securities, particularly for mid-market Spanish corporates.
• GPM Sociedad de Valores: Independent Spanish securities firm (SV) offering brokerage, asset management, and investment advisory services. Already referenced on Link Securities' own homepage for the GPM Cirene Capital fund, indicating direct overlap in the Spanish independent SV segment.
• JB Capital Markets: Independent Spanish broker-dealer and investment bank focused on equities, ECM, and research for Spanish mid- and small-cap companies. Closely comparable on the IB and intermediation side, particularly for equity capital markets and Spanish SME advisory work.
• Renta 4 Banco: Spanish independent bank specializing in brokerage, asset management, and investment banking with a three-pillar model nearly identical to Link Securities. Serves Spanish retail and institutional investors with a comparable product set spanning equities, derivatives, fixed income, funds, and corporate advisory.

Broad incumbents

• Bankinter: Spanish universal bank with a sizable in-house brokerage and asset management division (including Bankinter Gestion de Activos). Competes with Link Securities across intermediation, funds distribution, and wealth management, with much greater scale and brand reach.
• Banco Santander (Santander Wealth & Investment): Global bank with a Spanish-domiciled wealth management and investment banking franchise (Santander Private Banking, SAM Investment Managers). Dominates Spanish retail brokerage, IB, and asset management with vastly greater resources and an international footprint Link Securities lacks.
• BBVA (BBVA Asset Management & CIB): Major Spanish universal bank with significant brokerage, asset management (BBVA Asset Management), and investment banking franchises. Competes across all three of Link Securities' pillars, with a substantially larger client base and balance sheet.
• CaixaBank (CaixaBank Wealth & CIB): Leading Spanish retail bank with a strong asset management arm (CaixaBank Asset Management) and corporate/investment banking activity. A direct competitive overlap for retail brokerage, fund distribution, and discretionary portfolio management in Spain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/LinkSecurities
• Facebookfacebook.com/LinkSecurities
• LinkedInlinkedin.com/company/link-securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

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 Link Securities