Mercado Libre to make historic investment in Mexico of $2.45 billion dollars

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The e-commerce company Mercado Libre will make an investment in Mexico in 2024 amounting to 2.45 billion dollars, the highest figure in the company’s history since its arrival in the country and 48% above that of 2023.

According to the company’s CEO, David Geisen, the resources will be allocated to increase the company’s logistics network, technological innovation, development of priority categories, as well as marketing and talent.

Meanwhile, in the fintech ecosystem of Mercado Pago, it consolidates its application, financial inclusion, seeks to boost credit placement, as well as in its financial solutions that are offered.

Mexico, the largest market

In a press conference, Geisen highlighted that the Mexican market is the fastest-growing for the company worldwide and “there is no other market growing like Mexico.

From 2017 to date, Mercado Libre has made cumulative investments in the Mexican Republic of 7.77 billion dollars, both in e-commerce and fintech.

“By the end of the last quarter, we had 134 million unique users within the Mercado Libre ecosystem, encompassing users who buy in the Marketplace and those who use the MercadoPago app,” he emphasized.

Achievements in 2023 by Mercado Libre

He specified that last year they managed to increase their active user base by 50% within the Mercado Libre system; the Marketplace alone grew by 18%, surpassing 50 million unique active users.

They also sold a total of 1.404 billion products throughout the past year, surpassing for the first time 400 million products sold in a single quarter at the end of the year and accumulating a 32% growth in volume over 12 months.

Furthermore, he said that Mercado Pago is the second most downloaded and used financial application in Mexico, just behind BBVA; while in the region, they perform an average of 371 transactions per second.

“About five years ago, the growth was 4%, and today it has quadrupled, which has allowed access to millions of products and financing options to millions of Mexicans,” Geinsen expressed.

Source: El CEO