10 Best Fintech Stocks To Buy Now

4. Mercadolibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 79

Next up is Argentine firm Mercadolibre, Inc. (NASDAQ:MELI), which is headquartered in Uruguay but incorporated in the United States. The company operates online marketplaces to facilitate online auctions and e-commerce. Some of its main platforms include Mercado Libre Marketplace, Mercado Pago FinTech, Mercado Fondo (investments), Mercado Credito (loans), and Mercado Envios (logistics).

It is one of the best fintech stocks to buy with 79 hedge funds optimistic about the trajectory of its shares. Mercadolibre, Inc. (NASDAQ:MELI)’s share price has grown 34.96% over the last 52 weeks, enabled by its solid financial performance and business growth. The first quarter of the year has also been impressive, in which the company posted a gross merchandise value growth of over 30% year-on-year in both Brazil and Mexico.

Harding Loevner Emerging Markets Equity Strategy stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its first quarter 2024 investor letter:

Another prime example of how alternative payment systems can boost a company’s core offering is MercadoLibre, Inc. (NASDAQ:MELI), Latin America’s largest online retailer, which we added to the portfolio during the quarter. Since we last wrote about the company four years ago, its management has done a great deal to further differentiate its offerings from those of rivals in a highly competitive industry, leading to market-share gains across the region. In the same way that the company built its own fulfillment infrastructure to improve the customer experience in areas where third-party delivery services were lacking, it has built its own payments and credit infrastructure to offer better shopping experiences to its customers and reduce barriers that have otherwise discouraged e-commerce adoption.