MercadoLibre focuses on payments platform in Brazil

MercadoLibre focuses on payments platform in Brazil

Corporate & Sovereign Strategy Equity Brazil Capital Markets Commerce Technology Digital Payments

Argentine e-commerce company MercadoLibre said it plans to invest $3.4 billion in Brazil with a "significant part" for its Marcado Pago payments platform. The investments, a 70% increase on last year, will also go to opening four new distribution centers in São Paulo and buying 15 aircraft by 2024, the company said in a press release on Monday. Nasdaq-listed MercadoLibre did not say how it plans to finance the investments. It raised $1.55 billion in a share sale in November last year, pricing 1

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