Mercado Libre revealed today that Goldman Sachs provided a US$233 million private financing line to its Mercado Pago fintech business through its Mercado Crédito credit division.
Out of the total, US$106 million will be used to increase Brazil’s lending capacity for small and medium-sized businesses, while US$127 million will go toward Mexico.
As a result, between 2021 and 2022, Goldman Sachs will have loaned Mercado Crédito a total of US$485 million, making it one of the bank’s largest investments in a fintech company in the area.
More than US$7.551 million in consumer credit loans and working capital loans for SMEs have already been disbursed through the region’s Mercado Pago credit options.
“The possibility of expanding our credit offering is at the core of what we strive to do: financial inclusion is reflected both in new users who will access credits, and also in those who continue to rely on us to add value to their businesses and projects,” observed Facundo Cuppi, Mercado Crédito’s Director of Lending Strategy & Operations.
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