Mercado Libre receives USD 375 mln in credit from Citi

Wednesday 1 December 2021 12:05 CET | News

LATAM’s biggest ecommerce platform Mercado Libre has borrowed USD 375 million from Citi Bank to expand its credit offer to SMEs, entrepreneurs, and consumers across Mexico and Brazil. 

The two-year financing line includes allocating USD 225 million to expand the credit vertical in Brazil and the rest for its operations in Mexico.

The company’s goal is to promote financial inclusion in the regions for customers and small entrepreneurs but its financing line, Mercado Credito remains available only in Argentina, Brazil, and Mexico.

Using Citi’s latest investment, Mercado Libre counts for a total credit line of over USD 625 million that can be used to finance third-party operations across Latin America. 

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Keywords: investment, Citi, Mercado Libre, financial inclusion, expansion, online payments
Categories: Payments & Commerce
Countries: Brazil, Mexico
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