dLocal achieves USD 1.2 bln valuation after securing new USD 200 mln investment

Wednesday 16 September 2020 13:50 CET | News

dLocal has announced up to USD 200 million in new investment, led by existing investor General Atlantic, a global growth equity firm with a presence across North and South America, Europe and Asia.

According to the press release, dLocal also secured an investment from Addition, a recently launched investment company focused on early and growth stage companies. Following this new growth equity investment, dLocal is now valued at USD 1.2 billion, becoming not only Uruguay’s first unicorn, but also one of the highest-valued LATAM financial technology companies supporting global merchants' growth in emerging markets.

dLocal will use its new funding to accelerate global expansion, targeting 13 new markets over the next 18 months, including Central America, Africa, and Southeast Asia countries. It will also further build and refine its product set to solve critical pain points for global merchants seeking to serve emerging markets consumers. 

Furthermore, dLocal has been working to expand its current customer relationships and has made a number of recent announcements with major ecommerce brands, including:

  • 1 September 2020: Spotify Premium is leveraging dLocal’s 360 payment platform to give customers in Argentina, Chile, Colombia, Peru, and Mexico the ability to pay for their subscriptions through popular methods such as cash and bank transfers.

  • 26 August 2020: dLocal is supporting Zara’s payments platform in Uruguay and Paraguay, allowing Zara to accept local credit card payments with the option of monthly instalments. This has enabled customers to pay with both international and locally issued credit cards from Mastercard, Visa, and American Express, as well as other domestic cards such as OCA in Uruguay.

  • 28 April 2020: Google Pay is fully compatible with dLocal’s payments solution, meaning merchants can accept the popular digital wallets with minimal effort on their part. The transaction is subject to customary regulatory approvals. Additional terms of the deal were not disclosed. 

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Keywords: dLocal, investment, General Atlantic, LATAM, merchants, Addition, emerging markets, ecommerce, Spotify Premium, Zara, local credit card payments, instalments, MasterCard, Visa, American Express, Google Pay, digital wallet
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce