WINA Inversiones

What WINA Inversiones does

WINA Inversiones is an Argentine financial advisory and investment introduction platform founded in 2017. It operates as a consumer brand of Referentes en Mercados SA, a registered Agente Productor (N° 452) with the Comisión Nacional de Valores (CNV). The company targets novice and first-time investors in Argentina, providing personalized advisory services that include investor profile assessment, risk tolerance evaluation, and investment product recommendations. Rather than executing trades itself, WINA routes clients to open cuentas comitentes (brokerage accounts) with two partner ALyC platforms: Allaria (an institutional player with 50+ years of experience in Argentine capital markets) and Alfy (a low-cost online trading platform with top-tier BYMA trading volumes). Since founding, WINA has onboarded tens of thousands of first-time investors into the Argentine capital markets.

The business model is transaction-fee based: WINA earns commissions or fees on client activity and assets referred to its partner ALyCs. Account opening and maintenance are free; clients only pay market-set arancel and exchange rights (BYMA) when executing trades. The go-to-market combines a content-led educational top-of-funnel (blog articles, email newsletter) with a high-touch advisor-led conversion motion, where advisors conduct initial interviews and recommend either Allaria or Alfy based on the investor profile. WINA does not develop proprietary trading technology; clients manage holdings and execute transactions through the web interfaces of the partner ALyCs.

As of the most recent materials, WINA has restructured its access model: clients now access their accounts directly through the partner ALyC platform rather than entering through WINA, while retaining the same advisor and contact information. This indicates a shift in which the advisory layer is becoming adjacent to, rather than central to, the client relationship, with potential implications for WINA's revenue capture and strategic positioning.

Name

WINA Inversiones

Legal name

Referentes en Mercados SA

Website

https://wina.com.ar

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

WINA Inversiones is an Argentine financial advisory and investment introduction platform founded in 2017 that serves novice and first-time investors by profiling them and routing them to partner ALyC broker-dealers Allaria and Alfy for account opening and execution, earning transaction-based commissions.

Ownership category

akta.pro rank

Product category

Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

akta.pro secondary industry

Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Investment advisory services
• Financial education
• Retail brokerage referral
• Capital markets onboarding
• Mutual funds distribution

Headquarters

HQ city

Buenos Aires

HQ country

Argentina

HQ region

Latin America

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Financial Advisory and Introduction Services: WINA generates revenue by introducing clients to its partner ALyC platforms (Allaria and Alfy). The company earns fees or commissions based on client activity and assets under management referred to these platforms. WINA acts as an intermediary, providing investment advisory and profile assessment services before directing clients to open accounts with partner broker-dealers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

WINA Inversiones provides personalized investment advisory and financial education services to Argentine retail investors, particularly first-time participants in capital markets. Advisors conduct initial investor profile interviews covering risk tolerance, expectations, and investment horizons, then recommend suitable investment alternatives and direct clients to open accounts with one of two partner ALyC platforms (Allaria or Alfy), where account management, trading, custody, and access to mutual funds (Fondos Comunes de Inversión) are executed. WINA does not custody assets or execute trades itself; it earns fees and commissions from clients referred to the partner ALyCs.

Product overview

WINA Inversiones operates as an investment advisory intermediary that connects clients to two ALyC brokerage partners—Allaria (with 50+ years of experience in financial asset management) and Alfy (a low-cost online trading platform)—for account opening and investment execution. The service architecture consists of WINA's advisory layer as the core offering, combined with partner platforms for account management, self-service trading capabilities, and access to mutual funds (Fondos Comunes de Inversión). Clients can recover invested funds within 1-3 business days through their linked bank accounts.

Differentiator

Problem solved

Functional benefit

Products and services

• WINA Investment Advisory Service Personalized investment advisory service for Argentine individuals that conducts an initial investor profile interview (risk tolerance, expectations, investment horizon) and recommends suitable investment alternatives, then directs clients to open accounts with one of two partner ALyC platforms (Allaria or Alfy). The service includes ongoing advisor support, access to mutual funds (Fondos Comunes de Inversión), free account opening and maintenance, and recovery of invested funds within 1–3 business days.
• WINA Financial Education Content (Blog and Newsletter)

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• AllariacoreChannel Partner/ Reseller/ Distributor · 1 January 2017Allaria is a leading Argentine financial services company with over 50 years of experience managing financial assets. It is one of the largest companies in the Argentine capital markets. WINA serves as an introducing partner, directing clients to open accounts with Allaria where they gain access to Allaria's comprehensive platform of financial services and mutual funds. WINA promotes Allaria to clients whose investment profiles and needs align with Allaria's offerings.
• AlfycoreChannel Partner/ Reseller/ Distributor · 1 January 2017Alfy is an Argentine online investment platform recognized for its high daily trading volume, ranking among the top positions in BYMA (Bolsas y Mercados Argentinos). Alfy offers the lowest market commissions and serves as an access channel to Allaria's mutual funds. WINA directs self-directed and cost-conscious clients to Alfy, acting as a distribution partner that channels client accounts to the platform.
• Referentes en Mercados SAcoreOthersWINA Inversiones is a brand of Referentes en Mercados SA, which is registered as an Agente Productor (Producer Agent) under Nº 452 with the Comisión Nacional de Valores (CNV), pursuant to Disposición Nº 2481 dated November 21, 2014. Referentes en Mercados SA provides the regulatory framework and legal entity under which WINA operates.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• BIND: Argentine investment and personal finance platform offering brokerage and advisory-style services to retail clients — a comparable retail-facing introducer/advisor in the same Argentine capital-markets ecosystem.
• Balanz: Leading Argentine broker-dealer and asset manager offering brokerage, mutual funds, and advisory to retail clients — comparable to WINA in serving retail investors in local capital markets, though with broader in-house product and execution capability.
• InvertirOnline (IOL): One of Argentina's largest online brokerages, providing self-directed retail investors with low-cost execution on BYMA — directly comparable to Alfy, WINA's partner, and competing for the same novice-investor flow that WINA educates and routes.
• Portfolio Personal de Inversiones (PPI): Argentine retail investment advisory and brokerage platform that similarly targets novice and mass-affluent investors with personalized portfolio recommendations and execution services — directly overlapping WINA's customer segment and advisory-introduction model.
• Adcap Securities: Argentine broker-dealer and ALyC with a retail and institutional client base offering local market execution and asset management — competes with WINA's partner platforms for account openings from the same novice-investor segment.

Emerging players

• Empiricus: Latin American financial-education and investment-introduction platform (Brazil-led) that similarly uses content marketing and advisor funnels to onboard novice retail investors — comparable content-led acquisition motion, though in a different geography and product set.

Broad incumbents

• Betterment: US digital wealth advisory platform serving mass-affluent retail investors with portfolio management and education — a broader incumbent whose advisory-plus-low-friction model parallels WINA's intended evolution toward a pure advisory introducer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/winafci
• LinkedInlinkedin.com/company/wina-inversiones

Revenue estimate

Valuation estimate

Number of profiles

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 WINA Inversiones