The Argentine company Mercado Libre has registered significant growth in its fintech business compared to its marketplace commerce. Over the past year, the fintech business reached $2.411 billion, surpassing the $1.407 billion generated by commerce.
In the financial results for 2024, Mercado Libre reported total revenue of $20.777 billion, a 37.5% increase compared to the previous year. Of this amount, $12.159 billion came from the historic commerce business, while $8.618 billion was generated by the fintech division, which includes payments, loans, insurance, and other financial services.
Marcos Galperin, CEO of Mercado Libre, sold part of his shares in the company a week after it presented its best results in its history. The transaction involved the sale of 150,000 shares, obtaining over $329.6 million.
Founded in 1999, Mercado Libre is the leading e-commerce platform in Latin America. Over the last year, the company surpassed the 100 million unique buyer mark for the first time and reached 60 million monthly users in its fintech segment.
The market capitalization of Mercado Libre stands at $111.410 billion, consolidating it as the Latin American company with the highest market value. Within its operations, Brazil, Mexico, and Argentina are the primary markets where the company has a presence.
According to information from the U.S. Securities and Exchange Commission (SEC), Galperin has an estimated personal fortune of $8.7 billion and recently sold part of his Mercado Libre shares through 1 Limited Partnership, an entity that owns 7% of the company's capital. The transaction also involved the sale of shares by 1 Limited Partnership through JP Morgan as a broker. The company's stock closed at $2,197.64 after the sale.
In summary, Mercado Libre has demonstrated strong performance in both its e-commerce business and fintech segment, consolidating its position as one of the leading technology companies in Latin America.
