Uruguay-based payment startup dLocal has announced it raised USD 617.65 million in its initial public offering.
dLocal priced 29.4 million shares at USD 21 per share, the company said, above its indicated USD 16-USD 18 range. The IPO values dLocal at USD 6.06 billion. Of the shares sold, around 4.4 million were by dLocal and 25 million by current investors.
The company's debut comes amid a several payment companies that went public this year, according to Reuters. Paymentus and Flywire both started trading in May 2021. Marqeta is also set to go public next week, the news agency announced. dLocal's shares are scheduled to start trading on Thursday, 3 June on the Nasdaq under the symbol "DLO". J.P. Morgan, Goldman Sachs, Citigroup and Morgan Stanley are the lead underwriters for the IPO.
Founded in 2016, dLocal counts the likes of General Atlantic and Mastercard among its prominent backers. It processes payments for global operators in emerging markets including Amazon, Spotify, Didi, and Kuaishou.
For more information about dLocal, please access The Paypers Company Database.
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