Montevideo, Uruguay – September 22, 2022 – dLocal, a leading Uruguayan fintech company specializing in emerging market payments, has announced a significant funding milestone. The company has secured $150 million in a Series D funding round, bringing its total funding raised to $450 million.
This latest investment will enable dLocal to accelerate its global expansion, enhance its product offerings, and strengthen its position as a key player in the cross-border payments landscape.
Investors and Valuation
The Series D funding round was led by General Atlantic, a leading global growth equity firm. Existing investors also participated in the round, including BOND, D1 Capital Partners, Insight Partners, and Tiger Global Management.
With this funding, dLocal's valuation has soared to $5.5 billion, solidifying its status as a leading unicorn in the fintech industry.
Market Momentum
dLocal's success is attributed to its deep understanding of emerging market payment complexities and its ability to provide tailored solutions to global businesses seeking to expand in these regions. The company currently operates in over 35 emerging markets, connecting merchants with local payment methods, currencies, and regulations.
Over the past year, dLocal has experienced tremendous growth, with its customer base expanding by over 70%. The company has also expanded its payment network by 50%, adding new payment methods and local acquiring capabilities.
Product Enhancements and Expansion
With the additional funding, dLocal plans to invest in product development, including the launch of new payment methods and value-added services. The company will also expand into new markets, with a focus on Southeast Asia and Africa.
Key Focus Areas
dLocal's primary areas of focus for the upcoming period include:
- Enhanced Product Suite: Developing new payment methods, local acquiring capabilities, and value-added services to meet the evolving needs of its customers.
- Global Expansion: Entering new emerging markets, with particular emphasis on Southeast Asia and Africa, to provide global businesses access to these rapidly growing regions.
- Technological Innovation: Investing in advanced technologies, such as AI and machine learning, to enhance the efficiency and security of its payment platform.
- Team Expansion: Hiring top talent to support the company's growth and expansion plans.
Impact and Significance
dLocal's mission is to simplify cross-border payments for businesses operating in emerging markets. The company's recent funding milestone will enable it to continue playing a transformative role in the global payments landscape.
- Economic Development: dLocal's services facilitate cross-border trade and investment, fostering economic growth in emerging markets.
- Financial Inclusion: The company's payment platform provides access to local payment methods and financial services, increasing financial inclusion for businesses and consumers in these regions.
- Technological Advancement: dLocal's investment in innovation contributes to the development and adoption of cutting-edge payment technologies.
Conclusion
dLocal's $150 million Series D funding is a testament to its strong track record, impressive growth, and ambitious expansion plans. The company's continued investment in product development, global expansion, and technological innovation positions it as a leading player in the global payments ecosystem.
As dLocal expands its global footprint, it is poised to empower businesses and consumers in emerging markets, fostering economic growth, financial inclusion, and the adoption of innovative payment solutions worldwide.
