Initiation of cross-border payments dLocal raised $ 150 million at a $ 5 billion valuation, less than seven months after securing $ 200 million at a $ 1.2 billion valuation.
This means that the five-year-old Uruguayan company has actually quadrupled its valuation in a matter of months.
Alkeon Capital led the latest round, which also included the participation of BOND, D1 Capital Partners and Tiger Global. General Atlantic led his precedent round , which closed last September and made dLocal Uruguay the first unicorn and one of the most popular startups in Latin America.
DLocal connects global corporate merchants with "billions" of emerging market consumers in 29 countries across Asia Pacific, the Middle East, Latin America and Africa. More than 325 global merchants, including ecommerce retailers, SaaS companies, online travel providers, and marketplaces, use dLocal to accept over 600 local payment methods. They also use its platform to issue payments to their contractors, agents, and vendors. Some of dLocal's customers include Amazon, Booking.com, Dropbox, GoDaddy, MailChimp, Microsoft, Spotify, TripAdvisor, Uber, and Zara.
Coinciding with this latest round, dLocal has appointed Sumita Pandit as COO. Pandit is the former global head of fintech and CEO of JP Morgan, who also had experience at Goldman Sachs.
"Sumita is a highly respected and established fintech investment bank, and has played a vital role in advising some of the world's most successful fintech companies as they have grown to become global leaders," dLocal CEO Sebastián Kanovich said in a statement. written declaration.
Meanwhile, former COO Jacobo Singer has been promoted to president of dLocal.
The company plans to use the new capital to improve its technology and continue to expand geographically.
Deepak Ravichandran, Alkeon's general partner, believes emerging markets represent some of the fastest growing opportunities in digital payments.
"However, as global merchants seek to access these markets, they are often faced with a complex network of local payment methods, cross-border settlement and other operational hurdles," he said in a written statement. "DLocal's single platform offers merchants a single integrated payment solution to reach billions of customers, accept payments, send payments and settle funds globally."
