The funding is contingent on MercadoLibre raising US$1 billion in equity on the public markets. (TechCrunch)

Talking point: This is the second major funding injection for the Latin American tech economy. Indeed, its growing middle class makes it a desirable place to invest. Last week, SoftBank announced a US$5-billion fund for Latin American tech companies, with offices in Argentina, Brazil, Colombia and Mexico. Canada is the sole major North American economy that SoftBank has not invested in, but Dragoneer is more active in promising Canadian companies. The firm led Slack’s US$247-million Series H in August 2018, and led a US$186-million round in Toronto-based PointClickCare, which provides management software for healthcare offices, in early February.