Mercado Libre will invest 3,440 million dollars in Brazil during this 2022

Mercado Libre, the largest unicorn born in Argentina, will invest 3.44 billion dollars in Brazil this year. The announced number is 70% more than the previous year and is part of its strategy to grow and consolidate its business in the neighboring country, which is its main source of income.

The e-commerce giant explained, through a statement, that a “significant” part of the amount announced in Brazil will be invested in expanding the operations of Mercado Pago, the group’s fintech.

According to the latest balance, presented at the beginning of this year, more than 55% of Mercado Libre’s revenues were generated in Brazil: 3,910 million dollars, 78.2% more than in the previous year.

Founded in 1999, Mercado Libre is the largest email company in Latin America. Present in 18 countries in the region, its shares have been listed on the New York Stock Exchange since 2007. With a market capitalization that exceeded 100 billion dollars a year ago, today it exceeds 61 billion dollars. It is the most valuable Argentine company in the world.

In February, the company also announced that it would increase its investments in Mexico, to 1,475 million dollars. Aztec was its strongest growth market last year. In the fourth quarter of 2021, Mercado Libre generated $1.12 billion in net revenue in Brazil, up from $720.6 million a year earlier, an annual growth of 56 percent.

It is worth mentioning that Mercado Libre was listed as the most innovative company in Latin America according to a ranking made by the American business magazine Fast Company. The fact was revealed on the networks of its founder Marcos Galperin, who stressed that the achievement was also announced on the mythical screen of the Nasdaq stock market measurement company.

Fast Company stressed that the greatest merit achieved by MercadoLibre was having made “the easiest electronic payments”, in reference to the transaction system of its marketplace in addition to its payment platform for sales MercadoPago, which after a year of pandemic began to be used by 390,000 businesses and entrepreneurs, according to company figures.

At the same time, they highlighted its capillarity in different countries in the region, especially that “in November, the company became the first payment service provider licensed to issue prepaid debit cards in Chile.” In December, Mercado Libre announced that users in Brazil could now buy, sell, and hold cryptocurrencies through the Mercado Pago app.

According to its latest balance, presented at the beginning of this year, more than 55% of Mercado Libre’s income was generated in Brazil.

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