Latin America's neobanks showed growing profits and robust customer acquisition in the quarter, a sign of resilience amid economic troubles.
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.
Mercado Libre booked $262 million in profits, up 113% year over year amid strong e-commerce tailwinds and a growing fintech business.
Latin American fintech neobank Nubank and Mercado Libre post strong Q2 profits, defying industry challenges and showing resilience.
We have seen many companies in fintech branch out into adjacent areas of finance as they add product lines to...
Mercado Libre has seen great success in providing financing to millions of people who struggled to obtain it through traditional lenders.
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.
Mercado Pago, the fintech arm of Latin America e-commerce giant Mercado Libre, reported a significant milestone in its fintech business.
Driven by fintech revenue, Mercado Libre booked $201 million in net income in the period, up from $65 million in the year-ago quarter.
Mercado Libre launched Mercado Coin, its first-ever token that will be initially available in Brazil as part of its loyalty program.