Mercado Libre, a leading Argentine e-commerce platform, announced the acquisition of Kangu, a Brazilian logistics startup.
Kangu is a delivery and drop-off network that allows retailers to connect with local retailers and leave parcels for collection by customers. The platform serves more than 40,000 connected retailers across Brazil, Colombia, and Mexico.
āKangu already plays an important role in our ecosystem by connecting Mercado Libre buyers and sellers in more than 5,000 locations,ā said Renato Pereira, Director of Corporate Development at Mercado Libre.
Mercado Libre was already a strategic associate for the platform before the acquisition. The move is in line with Mercado Libreās current business strategy to improve the efficiency of sales and delivery for customers.
āKanguās delivery network was particularly important during the pandemic when we experienced a huge surge in demand. [ā¦] The acquisition will support rapid expansion for Mercado Libre, especially in Brazil,ā Pereira continued.
Read more on Mercado Libre.
