Paypal acquires 7% stake in MercadoLibre-backed SPAC

Friday 15 October 2021 | 16:00 CET | News
PayPal has acquired 2 million shares of Miami-based special purpose acquisition company MELI Kaszek Pioneer for a undisclosed sum, reports website Payments Dive, citing an SEC filing. The stake is equivalent to a 6.73 percent share of the SPAC, which is backed by Latin American e-commerce giant MercadoLibre and venture capital firm Kaszek.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: General
Companies: MercadoLibre / PayPal
Countries: Latin America
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


PayPal updates mobile app with savings account, direct deposits, loyalty scheme

Published 22 Sep 2021 10:42 CET | United States
PayPal is updating its mobile app to offer more financial services for customers. The digital wallet gets access to a savings ...

MercadoLibre to invest USD 25 mln in digital ad group Aleph

Published 19 Aug 2021 10:22 CET | Latin America
Latin American e-commerce giant MercadoLibre has announced an agreement to acquire a USD 25 million stake in digital media group ...

MercadoLibre sees 94% revenue growth in Q2

Published 06 Aug 2021 14:44 CET | Brazil
Latin American e-commerce company MercadoLibre reported net revenues for the second quarter of 2021 of USD 1.7 billion, a ...

PayPal enters China with majority stake acquisition of GoPay

Published 01 Oct 2019 09:42 CET | China
PayPal has bought a 70 percent stake in GoPay (Guofubao Information Technology), TechCrunch reported, saying the company in this ...

MercadoLibre closes public offering, raises USD 2 bln in equity sales and investments

Published 18 Mar 2019 09:24 CET | Latin America
Latin American e-commerce giant MercadoLibre announced the closure of a recently-announced underwritten public offering of USD ...

MercadoLibre prices offering at USD 480 per share

Published 13 Mar 2019 09:19 CET | Latin America
Latin American e-commerce giant MercadoLibre confirmed that it's pricing a recently-announced underwritten public offering of ...

MercadoLibre raises USD 1.85 bln, including USD 750 mln from PayPal

Published 12 Mar 2019 08:59 CET | Latin America
Latin American e-commerce giant MercadoLibre announced that it intends to offer around USD 1 billion of common stock, with PayPal ...