Mercado Libre Gets $72 Million Loan From Goldman Sachs

September 24, 2020
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The Latin American horizontal Mercado Libre is to receive a loan of $72 million from US bank Goldman Sachs to bolster its operations in Brazil. Specifically, the loan is destined to be used for Mercado Libre’s ‘Mercado Pago’ product which lends to small businesses and which received a loan of $125 million from the same source back in December. 

According to the SVP of the company’s credit division Mercado Credito, Martin de los Santos, the company has seen demand for business loans shoot up among Mercado Libre’s vendors with traditional lenders unable to fill the void.

In addition to running horizontal marketplaces, Mercado Libre also owns and operates a number of top property portals in the region including portalinmobiliario in Chile, in Venezuela, and in Ecuador. The company has seen its share price rise considerably during the pandemic as Latin Americans increasingly look online for goods and property. The company reported net profits of $55.9 million for the second quarter and its share price has increased 81% so far this year.

September 24, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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