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Argentine e-commerce platform Mercado Libre secures $250 million in financing to expand its reach
Mercado Libre, an Argentine e-commerce platform, has signed a three-year credit agreement with JPMorgan totaling $250 million. As part of the transaction, JPMorgan purchased a portion of Mercado Libre’s existing personal and business loan portfolio.
The company was founded in 1999 and serves as an online market space for people in Latin America. We also facilitate merchants on our platform by providing logistics and delivery arrangements, and provide an integrated payment platform to enable users to make secure online payments.
Mercado Libre plans to use the funds to invest in marketing, focusing on acquiring users through events and creating content specifically for the influencer market. This will increase your visibility and help you attract more users to your platform.
Updated September 27, 2024
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