Mercado Libre, one of the leading e-commerce and fintech companies in Latin America, has announced an investment of $1.6 billion in Mexico. The investment will be focused on the development of fintech and e-commerce solutions, as well as strengthening the logistics operation, talent growth and marketing in the country.

Mexico is Mercado Libre's second largest market and one of the most important in its expansion plan. The company has highlighted the importance of continuing to contribute to access to finance and electronic commerce for millions of Mexicans.

Mercado Libre's investment in Mexico comes at a time when the country is experiencing strong growth in e-commerce, driven by the pandemic and increasing adoption of technology. In fact, the company recorded 55% year-over-year dollar revenue growth in the final quarter of 2022 in Mexico, demonstrating the strength of the market and its growth potential.

In addition to its core e-commerce business, Mercado Libre also offers digital financial services, such as loans and online payments, which are increasingly popular in Mexico. With this investment, the company hopes to strengthen its position in the market and offer innovative solutions to meet the needs of Mexican consumers and sellers.