Mercado Libre announces that it will invest 1.6 billion dollars in Mexico, the second most important market where the company operates and one of the protagonists in its expansion plans.

Mercado Libre’s investment will be based on the development of Fintech solutions and electronic commerce, as well as the reinforcement of its logistics operations, increase of talent and marketing.

According to Mercado Libre, Mexico plays a fundamental role in this operation, ensuring that in its last quarter of 2022 the company registered a year-on-year growth in revenue in dollars of 55%.

Likewise, in the last 3 months, said country represented 31% of the total income of Mercado Libre.

Another important point to highlight is its Fintech business, called Mercado Pago, which jumped with more than 210 transactions per second at the regional level, and that Mexico continues to strengthen its offer with the incorporation of life insurance, accident insurance and a protection against theft of belongings.

This year 2023, the company seeks to consolidate itself as the most complete digital financial services platform for its users and sellers, said the general director of Mercado Pago in Mexico.