O Free market announced, on July 11th, that its fintech Mercado Pago, through the Mercado Crédito function, has just received a new credit line financing of about US$ 233 million from the financial group Goldman Sachs.
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Of this amount, US$ 106 million will be earmarked for expanding credit capacity for individuals and small and medium-sized companies in Brazil, and US$ 127 million for Mexico. Thus, the injection of this Goldman Sachs capital into the Credit Market reached a total of 485 million dollars between 2021 and 2022, which represents one of the largest investments made by this bank in a fintech of the region.
“We are driven in Mercado Pago by the purpose of bringing solutions closer together, generating greater opportunities for millions of Latin Americans, with an innovative credit offer that is adapted to the needs and capabilities. This investment made by Goldman Sachs gives us an incentive to continue working so that thousands of people, entrepreneurs and SMEs can take advantage of their full potential,” said Facundo Cuppi, Director of Strategy and Credit Operations at fintech do Mercado Free.
The Mercado Pago credit lines available in the region have already reached the concession of more than 7.551 million dollars, with a total of 175 million consumer loans and working capital for SMEs. “This possibility of expanding our credit offer is at the heart of what we do, which would be the inclusion financial impact will reflect both on new users who will have access to credit and those who trust our work to add value to their businesses and projects”, completed Cuppi.
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