Latam fintechs expected to grow into lending in 2024, as a more benign economic environment favors greater risk-taking.
Mercado Libre booked $359 million in profits from $129 million a year ago, driven by strong e-commerce in Mexico and growing fintech products.
Mercado Libre booked $262 million in profits, up 113% year over year amid strong e-commerce tailwinds and a growing fintech business.
Mercado Libre will hire 13,000 new jobs this year, bucking a lay-offs trend. Most of the new employees will be based in Mexico and Brazil.
Mercado Libre reported strong Q4 2022 results with their fintech division, Mercado Page, leading the way
Latin America's neobanks showed growing profits and robust customer acquisition in the quarter, a sign of resilience amid economic troubles.
Latin American fintech neobank Nubank and Mercado Libre post strong Q2 profits, defying industry challenges and showing resilience.
Driven by fintech revenue, Mercado Libre booked $201 million in net income in the period, up from $65 million in the year-ago quarter.
E-commerce giant Mercado Libre will invest $3.6 billion in Brazil, with its fintech unit as one of the major growth drivers in Latin America.
Shares of the e-commerce giant jumped 8% on Nov. 4 following the release of third-quarter results on the back of a strong performance of its financial technology division, Mercado Pago.