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Mercado Libre to almost triple investment in Mexico to US$1.1 billion this year

RIO DE JANEIRO, BRAZIL - Argentina’s e-commerce firm Mercado Libre said on Tuesday it would invest US$1.1 billion to expand its warehouse space and services in Mexico this year, spurred on by a pandemic-driven boom in online shopping.

The figure is nearly triple the US$420 million Mercado Libre spent last year in Mexico, a rapidly growing market where it is battling to stay ahead of global giant and other rivals.

The investment will help Mercado Libre double its warehouse space and boost fintech services such as consumer credit. The company said in a . . .

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