Of the total figure, 127 million dollars will go to users of the Mercado Libre ecosystem in Mexico, while the other 106 million dollars will have a similar destination in Brazil.
The financing from Goldman Sachs to Mercado Crédito has been materializing from 2021 to date and already amounts to a total of 485 million dollars. This sum represents one of the bank’s largest investments in a fintech company in the region.
“In Mercado Pago we are driven by the purpose of bringing solutions and generating more opportunities for millions of Latin Americans, through an innovative credit offer that adapts to their needs and capacities. Goldman Sachs’ investment encourages us to continue working so that thousands of people, small businesses and SMEs can develop their full potential,” said Facundo Cuppi, Director of Strategy and Operations at Mercado Crédito.
“We are very excited to continue partnering with Mercado Libre to promote financial inclusion and access to credit in Latin America. Mercado Crédito and the entire MercadoLibre ecosystem are a unique platform to improve the flow of capital for companies that do not have access to credit through conventional means,” said Santiago Rubin, CEO, Head of Technology, Media and Telecommunications for Goldman Sachs Latin America.
Through Mercado Pago credits available in the region, more than US$7,551 million have already been lent, in 175 million consumer and working capital loans for SMEs. “The possibility of expanding our credit offer is at the center of our efforts: financial inclusion is reflected both in the new users who will access credit, and in those who continue to trust us to add value to their businesses and projects,” he added. Cuppy.
Mercado Pago is the largest fintech company of Latin American origin in the region and is the fastest growing business within Mercado Libre. Founded in 2003, it provides financial solutions for those companies, enterprises or individuals who manage their money within the ecosystem of the ecommerce platform founded by Marcos Galperin, in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay. Currently, it processes more than 3 million transactions per day.
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