Mercado Libre invests in new business front, setting aside R$10 billion to do so

Mercado Envios, the name of the company's logistics area, is expected to follow a similar path to Mercado Pago, Mercado Libre's financial services segment.

RIO DE JANEIRO, BRAZIL - With strong growth both in online shopping as in the financial area last year, Mercado Libre set aside R$10 (US$1.72) billion to invest in 2021, most of which will be directed to what may become its third business front: logistics.

"For now, we are working to solve, simplify and expedite customer sales deliveries," says Stelleo Tolda, Mercado Libre's CEO for Latin America. "But when that bottleneck is solved, we . . .

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