dLocal reaches $5B valuation mark following $150M investment

LatamListdLocal, the Uruguayan global cross-border payments platform, announced a new $150M investment round led by Alkeon Capital. Bond, D1 Capital Partners, and Tiger Global also participated in the round, which brings the startup’s valuation to $5B.

In conjunction with the investment, dLocal appointed Sumita Pandit, previous Managing Director and Global Head of Fintech Investment Banking for J.P.Morgan, as COO of dLocal. Sumita will bring her extensive experience in the fintech industry to serve global merchants seeking to access new consumers in emerging markets.

“Sumita is a highly respected and accomplished investment banker, and she’s played a pivotal role advising some of the world’s most successful fintech companies as they’ve scaled to become global leaders,” said Sebastián Kanovich, CEO of dLocal.

Additionally, the startup’s former COO, Jacobo Singer, was named President.

dLocal is a 360 cross-border payments platform that connects global merchants to emerging markets in 29 countries. The centralized platform allows over 325 global merchants to accept digital payments and bank transfers in local currency.

The fintech became a unicorn last September after raising a $200M funding round. dLocal continues to work towards democratizing e-commerce and digital payments in emerging markets, empowering merchants and customers with its single integrated payments solution.

“I am thrilled about this next era of growth for dLocal, the addition of new world-class investors, and what it means for our customers,” said Kanovich. “The new investment combined with our strengthened leadership team will allow us to further focus on our customers’ success.”

Read more on Bloomberg.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like