Goldman Sachs lends MercadoLibre USD 233 mln

Tuesday 12 July 2022 11:50 CET | News

US-based multinational investment bank Goldman Sachs has agreed to loan LATAM’s major ecommerce platform, MercadoLibre, USD 233 million, amid the latter’s expansion in Mexico and Brazil. 

MercadoLibre plans to expand its credit offering in the two countries, with Mercado Pago to use USD 106 million to boost its credit portfolio aimed for individuals and small businesses in Brazil. 

The rest of the USD 127 million will be used for similar development plans in Mexico. Goldman Sachs’ offer comes shortly after investment giant Citigroup has loaned MercadoLibre USD 375 million, in November 2021.

The ecommerce platform started offering credit services in 2016 and grew its total credit portfolio to over USD 2.4 billion. According to data provided by the company, its lending business will reach up to 22% of its total operations and will most likely grow up to USD 13 billion by 2026.

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Keywords: lending, ecommerce, ecommerce platform, cross-border ecommerce, investment
Categories: Payments & Commerce
Companies: Goldman Sachs, Mercado Pago
Countries: Brazil, Mexico
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Mercado Pago

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