Diversifies Uruguay's tech landscape as dLocal achieves unicorn status

Last week, dLocal secured $200 million, boosting its valuation to $1.2 billion. In an exclusive interview, we discussed future business strategies with dLocal's CEO, Sebastian Kanovich.

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2025 September 11 . 6:06 PM

1 min read

dLocal breaks new ground as Uruguay's first unicorn company

Diversifies Uruguay's tech landscape as dLocal achieves unicorn status

In the world of payment processing, success in emerging markets is a key metric that many companies strive to achieve. One such company, dLocal, has made significant strides in this area, serving leading tech giants like Microsoft, Amazon, and Google.

Based in Uruguay, dLocal has recently secured a $200m funding round led by General Atlantic, propelling its valuation to $1.2bn, making it the first unicorn to emerge from the South American country. Despite being profitable from its inception, this additional funding will enable dLocal to fast-track its expansion into 13 new markets.

Payment processing in emerging markets often involves a significant amount of FX remittance on the back-end. dLocal, with its focus on these markets, aims to maintain profitability while expanding its operations.

The road ahead for dLocal is not without challenges. Established players in the payment solutions and digital commerce industry, such as Adyen and Shopify, are likely to be its main competitors in the 13 new markets it plans to enter. Additionally, big banks like Bank of America and J.P. Morgan, as well as standalone publicly listed payment processors, also operate in this industry.

However, dLocal is not deterred. Its goal is to become the "Adyen of emerging markets," and if its triple-digit growth continues, it is likely to catch up to the incumbent competition. The company has already proven its mettle in some of the hardest markets globally.

Daniel Webber is linked to this article, but specific details about the markets dLocal plans to expand into have not been disclosed. Despite this, the future looks promising for this Uruguayan unicorn as it embarks on its next phase of growth, with the backing of General Atlantic and a clear vision to conquer the emerging markets.