Goldman Lends MercadoLibre $233 Million for Credit Growth
- E-commerce, fintech giant plans Brazil, Mexico expansion
- Company credit portfolio grew to $2.7 billion in first quarter
The MercadoLibre Inc. and MercadoPago application are displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Buenos Aires, Argentina, on Monday, June 10, 2019.
Photographer: Sarah Pabst/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc. has agreed to loan $233 million to Latin American e-commerce giant MercadoLibre Inc.’s fintech arm as the firm plans on expanding its credit offering in two key markets.
MercadoPago, as the financial-tech business is known, will use $106 million to boost its credit portfolio aimed at individuals and smaller businesses in Brazil, while $127 million is earmarked for Mexico, according to a statement Monday. Last November, Citigroup Inc. loaned the firm $375 million.