Mercado Libre to invest US$420 million in Mexico

MEXICO — In the framework of the first edition of the MELIXP, a technology and innovation event where topics on finance and electronic commerce were addressed, David Geisen, general director of Mercado Libre México, reported on the investment plans for 2020.

He stressed as well the importance of the Mexican market for the company and the increase in annual investment; an increase of 40% is expected for 2020 compared to 2019.

“Mercado Libre México began investing heavily in logistics and growth solutions for the marketplace platform in 2017. In 2017, we invested US$100 million. In 2018, US$ 275 million were invested. Last year it was almost US$300 million and this year we will invest 40% more than last year. We are going to invest US$420 million in Mexico in 2020. ” said Geisen.

According to the manager, among the objectives of the company in Mexico for 2020 and the next years, 3 of them stand out: consolidate the market place; logistics, help SMEs with the storage and shipping service; and fintech, to grant loans to customers.

Source: Index noticias