INFOGRAPHIC: Top LATAM Startup Funding — Week 39
In this week's funding deals, we tracked Mercado Libre, Mercado Pago, ROCK, Noodle and MeetRox in the LatAm region.
- Argentine e-commerce platform, Mercado Libre, obtains a $250 million loan to expand its reach
- Mercado Pago, the financial arm of Mercado Libre, secures a $183 million credit line to fuel its expansion
- Brazilian customer engagement platform, ROCK, secures $54 million to bolster its customer-centric offerings
- Brazilian fintech platform, Noodle, secures $900,000 to accelerate its growth
- Brazilian AI-powered SaaS startup, MeetRox, secures a $460,000 seed round to fuel the growth and technological advancements
Argentine e-commerce platform, Mercado Libre, obtains a $250 million loan to expand its reach
Argentine e-commerce platform, Mercado Libre, entered into a three-year credit agreement with JPMorgan, valued at $250 million. As part of the deal, JPMorgan purchased a portion of Mercado Libre's existing personal and business loan portfolio.
The company was founded in 1999 and acts as an online marketspace for the people of Latin America. It also facilitates sellers on the platform by providing logistics and shipping accommodations and offers its integrated payment platform, allowing users to make secure online payments.
Mercado Libre plans to use the funds to invest in marketing, focusing on user acquisition through events and creating content specific to the influencer market. This will help them increase their visibility and attract more users to their platform.
