Mercado Libre confirms investment of 1,100 million dollars in Mexico

Mercado Libre announced an investment, for this 2021, of 1,100 million dollars to improve its operations in Mexico.

This figure represents an increase of 161.9% compared to the 420 million dollars it injected in 2020.

David Geisen, general director of Mercado Libre México, commented that for this year they will invest more than in the last four years together, and with this new commitment they want to continue developing their solutions so that more people are connected to what they need.

This injection of capital will serve to double the square meters of its distribution centers, which today is 210,000m2 , reinforce its logistics network and its Fintech business .

The CEO highlighted that it is the second most important investment that the company will make this year, only behind Brazil, due to being its main market worldwide.

"The investment and the acceleration of this is due to what we observe and project in trends, not so much of wanting to put infrastructure and solutions, and hopefully someone uses them, today if we do not accelerate, we would have several operational and financial bottlenecks, and we decided take this as an opportunity and meet all the demand, "he said.

He stressed that their logistics network has allowed them to deliver within 24 hours nationwide, through airplanes, land vehicles and last-mile stations in all states of the country. 

Regarding Fintech , both Mercado Pago and Mercado Crédito , he indicated that in 2021 they will incorporate additional functionalities, in addition to increasing the financing they offer, because they consider that the economic reactivation will be possible if sellers and consumers have the working and consumption capital to have transactionality.

The manager explained that in 2020, the growth of the electronic commerce platform was 120%, and more than 100 million items were sold. 50% of sales were from small and medium-sized companies; In addition, 50,000 brands of this type were added.