Mercado Libre announces investments for US $300 million in Mexico

The Mercado Libre e-commerce platform announced that it will invest US $300 million in Mexico to promote financial inclusion, develop the country’s economy and create jobs.

In that sense, the CEO and founder of the company, Marcos Galperin, explained through a statement that the company is convinced of the transformative power that technology has to equalize opportunities.

The executive explained that with this investment, Mercado Libre reiterates the commitment with Mexico to contribute to the achievement of objectives such as financial inclusion, economic growth and employment generation, in order to support the economic and social well-being of Mexican families.

In addition, he indicated that this investment announcement comes a few days after the development of the Council for the Promotion of Investment, Employment and Economic Growth, which will boost the strengthening of the domestic market.

On the other hand, the platform explained that it will continue with the development of technological solutions such as the digital wallet of Mercado de Pago, the payments through QR Code, prepaid cards to generate greater financial inclusion in Mexico.

Also, the expansion of the supply of loans to consumers through Mercado Crédito, which has placed more than 600 million pesos to sellers, thus boosting more than 8,000 entrepreneurs in the country.

A crucial element in this objective, he explained, are the two distribution and storage centers in the State of Mexico, to reduce costs to users and sellers, where the goal is to achieve increasingly faster shipments, at lower cost and even free.

Finally, the CEO of the company added that, although there is still a long way to go, with this new investment, progress is made in leaps and bounds in the democratization of commerce, logistics and money in the country.

Sign Up for Our Newsletters

You May Also Like

Colombian EPM sells small portion of shares in electric ISA for US $ 73.3M

Colombia’s Empresas Públicas de Medellín (EPM) sold 13.2% of the shares it…

Consortium of Colombian Ecopetrol, BP and CNOOC wins oil exploration block in Brazil

Colombia’s Ecopetrol announced last week that in a consortium with BP and…

Novartis will buy Endocyte, specialized in antitumor drugs, for US $2.1 billion

The Swiss pharmaceutical giant Novartis has acquired the firm specialized in anti-tumor…