Uruguay's dLocal achieves unicorn status, leading the country's digital landscape.

dLocal Raises $200m, Aims to Become the "Adyen of Emerging Markets"

In a significant move for the fintech industry, dLocal, a Uruguayan-based payment processor, has secured $200m in a funding round led by General Atlantic. This investment values the company at $1.2bn, making it the first unicorn to emerge from Uruguay.

The funds will be used to fast track dLocal's expansion into 13 new markets. Sebastian Kanovich, CEO of dLocal, has ambitious plans for his company, aiming for it to become the "Adyen of emerging markets". Adyen is a Dutch payment company that caters to both established businesses and start-ups, and dLocal aspires to replicate this success in the emerging markets.

Payment processing in emerging markets differs significantly from developed markets. In these regions, customer payments are typically processed locally, but Foreign Exchange (FX) is done on the back-end to remit funds. This method is crucial for dLocal's success, as it allows businesses to accept payments in a variety of local methods, while minimising the risk associated with foreign exchange.

dLocal has already proven successful in some of the hardest markets globally. The company serves many leading tech companies, including Microsoft, Amazon, and Google, and has been profitable since its inception. Increasing transaction acceptance rates is a key metric to measure success in emerging markets, and dLocal's continued triple-digit growth could potentially help it catch up to incumbent competition.

While the 13 new markets into which dLocal is expanding have not been specified, the company is clearly poised for growth. With its unique approach to payment processing and a strong financial backing, dLocal is well on its way to becoming a major player in the global fintech landscape.

This news article is associated with Daniel Webber. For more information about dLocal and its expansion plans, stay tuned to updates from our team.

Uruguay's dLocal achieves unicorn status, leading the country's digital landscape.