dLocal
Corporate brand
UnclaimedUruguayan financial technology company specializing in cross-border payments for global merchants entering emerging markets. Cross-border payment service provider
Last updated October 16, 2026
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Overview
dLocal is a Uruguay-based financial technology company that provides cross-border payment infrastructure linking international merchants with consumers and businesses in emerging markets. Its platform is designed to address the practical difficulties of accepting and sending payments across countries with different currencies, banking systems, payment preferences, regulatory environments, and levels of financial inclusion. Rather than relying solely on international card networks or conventional correspondent banking arrangements, dLocal connects merchants to locally relevant payment methods and settlement capabilities through a single technology and commercial relationship. The company was established as a startup in 2016 by Andrés Bzurovski and Sergio Fogel. Its development reflects a broader fintech opportunity: global digital businesses often want to sell subscriptions, online services, digital goods, travel, e-commerce products, or other offerings in markets where card penetration is lower and local payment methods are important. dLocal's proposition is to simplify that expansion by providing one integration for multiple markets and payment rails. Its activities include payment acceptance, local disbursements, and related cross-border transaction services for international businesses. The company grew rapidly enough to become Uruguay's first unicorn. It subsequently expanded its international footprint, with offices reported in Montevideo, São Paulo, San Francisco, London, Tel Aviv, and Shenzhen. This geographic spread supports its role as a bridge between global merchants and payment ecosystems in Latin America, Africa, Asia, and other emerging regions. The business has also pursued growth through acquisitions and regulatory expansion, including its 2021 purchase of payments provider PrimeiroPay and its announced 2025 plan to acquire African payments company AZA Finance. On 3 June 2021, dLocal became a publicly traded company on Nasdaq. The listing made it the second Uruguayan company in history to reach Wall Street, following StarMedia in the 1990s. The offering and subsequent trading established dLocal as one of the most visible companies from Uruguay's technology sector; the company reached a reported market valuation of approximately US$9.5 billion at the time of its public-market debut. Because that figure relates to a specific historical point rather than current value, it should not be treated as a present valuation. Regulatory capability has become an important part of dLocal's international strategy. In January 2025, the company's UK entity, dLocal Opco UK, obtained an Authorised Payment Institution licence from the UK's Financial Conduct Authority. The approval was intended to allow the company to onboard UK merchants through a locally regulated structure. In June 2025, dLocal announced plans to acquire AZA Finance for a reported US$150 million, subject to the applicable transaction conditions and regulatory processes. In January 2026, it identified Asia as a strategic expansion priority, citing plans to hire additional personnel and seek further licences in markets including Vietnam and Thailand. dLocal's positioning combines enterprise payment technology, local-market connectivity, and international scale. Its customers are global merchants rather than primarily retail consumers, and its competitive relevance depends on coverage, reliability, compliance, local payment acceptance, settlement efficiency, and the ability to manage complex cross-border flows through one platform. The available reference material does not establish a complete current list of products, customers, financial results, or senior executives beyond the named founders. On 3 June 2021, dLocal became a publicly traded company on Nasdaq. The listing made it the second Uruguayan company to reach Wall Street, after StarMedia in the 1990s. Its reported market valuation at the time of its public debut was approximately US$9.5 billion; that figure reflects a historical moment rather than a current valuation.
History
dLocal was founded in Uruguay in 2016 by Andrés Bzurovski and Sergio Fogel. It began as a fintech venture focused on the difficulty faced by international businesses trying to operate in emerging markets. Merchants expanding across borders commonly encounter fragmented payment methods, uneven card usage, local-currency requirements, different settlement practices, and country-specific regulatory obligations. dLocal developed its business around reducing that fragmentation through a consolidated payments connection. Its model links global merchants with local payment ecosystems. The company serves as a technology and payments intermediary, enabling international businesses to accept customer payments and make disbursements in markets that may not be efficiently served by a single conventional international payment arrangement. This local-market orientation became central to its identity and differentiated it from a purely domestic payment processor. The company expanded from its Uruguayan base into an international organization. Offices were reported in Montevideo, São Paulo, San Francisco, London, Tel Aviv, and Shenzhen, reflecting coverage and commercial activity across the Americas, Europe, the Middle East, and Asia. Its broader operating focus has been emerging markets, where local payment access can be a significant barrier to digital commerce and international service delivery. Growth led dLocal to become Uruguay's first unicorn. A major turning point came on 3 June 2021, when the company became publicly traded on Nasdaq. The listing made dLocal the second Uruguayan company to reach Wall Street, after StarMedia in the 1990s. The company reportedly reached a stock-market valuation of US$9.5 billion at the time of its public debut. That historical valuation reflected the market's assessment at that moment and is not a current financial figure. In 2021, dLocal expanded through the acquisition of payments provider PrimeiroPay for US$40 million. The transaction complemented its organic development by adding an established payments business to its international platform. The available reference material does not provide detailed information about PrimeiroPay's markets, technology, or post-acquisition integration. Regulatory authorization became another component of dLocal's expansion. In January 2025, dLocal Opco UK received an Authorised Payment Institution licence from the UK's Financial Conduct Authority. The licence enabled the company to onboard UK merchants through a local regulated entity, strengthening its ability to serve businesses connected to the UK while operating within the relevant payments framework. In June 2025, dLocal announced plans to acquire AZA Finance, an African payments provider, for a reported US$150 million. The proposed transaction indicated an effort to deepen the company's African presence and extend its cross-border payments capabilities in a region where local settlement and currency access are especially important. The supplied material does not confirm final completion or the eventual integration outcome. In January 2026, dLocal stated that Asia would be a strategic priority for expansion. Its plans included hiring dozens of employees and seeking additional regulatory licences in markets such as Vietnam and Thailand. This direction continued the company's pattern of combining geographic expansion with regulatory infrastructure rather than treating international growth as a purely commercial or technology exercise. The founders, Bzurovski and Fogel, were described in the supplied reference as ranking among the world's 2,000 richest people according to Forbes. No detailed current management roster, ownership breakdown, operating metrics, or later financial results are established by the available material. dLocal remains an active international fintech brand whose core proposition is to make cross-border payments more accessible and operationally manageable for global merchants entering emerging markets. The company is also associated with the legal entity DLocal Limited, registered in the Cayman Islands.
- 2026
Asia expansion priority
[1]dLocal announces Asia as a strategic priority, with plans to hire additional staff and pursue licences in markets including Vietnam and Thailand.
- 2025
UK payments authorization
[1]dLocal Opco UK receives an Authorised Payment Institution licence from the UK's Financial Conduct Authority.
- 2025
AZA Finance acquisition announced
[1]dLocal announces plans to acquire African payments provider AZA Finance for a reported US$150 million.
- 2021
Nasdaq public listing
[1]dLocal goes public on Nasdaq on 3 June 2021 and reportedly reaches a market valuation of approximately US$9.5 billion at that time.
- 2021
PrimeiroPay acquisition
[1]dLocal acquires payments provider PrimeiroPay for US$40 million.
- 2016
dLocal is established
[1]Andrés Bzurovski and Sergio Fogel establish dLocal in Uruguay as a fintech startup focused on connecting global merchants with payment systems in emerging markets.
dLocal becomes Uruguay's first unicorn
[1]The company reaches unicorn status during its early growth, becoming the first Uruguayan company described as a unicorn.
Products and positioning
A global-to-local payments infrastructure provider that helps international merchants accept payments and make payouts in emerging markets through one technology and commercial integration.
Merchant payments
Cross-border payment acceptance
dLocal enables international merchants to accept payments from customers in emerging markets through locally relevant payment methods and a consolidated integration. The service is intended to reduce the operational complexity of connecting separately to payment systems in each country.
Payment infrastructure
Local payment method connectivity
The platform connects global businesses with local payment ecosystems, helping them address differences in payment preferences, currencies, banking access, and market infrastructure. Specific payment methods are not identified in the supplied reference material.
Payouts
Cross-border payouts and disbursements
dLocal provides payment capabilities for sending funds across borders, supporting merchants and other international businesses that need to make local disbursements. The available material does not specify the full range of payout use cases or country coverage.
Brand decisions
2026
Asia expansion strategyStrategyBackground
dLocal identified Asia as an important next phase of international growth.
Action taken
The company announced plans to hire dozens of employees and pursue additional regulatory licences in markets including Vietnam and Thailand.
Aftermath
The supplied material does not establish the number of hires made, licences obtained, or commercial results from the strategy.
2025
Planned acquisition of AZA FinanceM&ABackground
dLocal announced a proposed expansion of its African payments presence through the acquisition of AZA Finance.
Action taken
The company announced plans to acquire AZA Finance for a reported US$150 million.
Aftermath
The supplied material does not confirm completion of the transaction or describe its post-announcement integration.
Reported planned acquisition price. Approximately US$150 million (June 2025)
2025
UK regulated-entity expansionStrategyBackground
dLocal pursued a local regulatory structure to support its UK-related merchant business.
Action taken
dLocal Opco UK obtained an Authorised Payment Institution licence from the UK's Financial Conduct Authority.
Aftermath
The licence enabled the company to onboard UK merchants through its UK entity.
2021
Acquisition of PrimeiroPayM&ABackground
dLocal sought to expand its payments capabilities and international business through the purchase of payments provider PrimeiroPay.
Action taken
The company acquired PrimeiroPay for US$40 million.
Aftermath
The supplied material does not provide detailed information about integration, financial performance, or operational changes following the acquisition.
Acquisition price. US$40 million transaction value (2021)
2021
Nasdaq listingOtherBackground
dLocal pursued a public-market listing as its international fintech business expanded and it became Uruguay's first unicorn.
Action taken
The company began trading on Nasdaq on 3 June 2021.
Aftermath
The listing made dLocal the second Uruguayan company to reach Wall Street. Its reported market valuation reached approximately US$9.5 billion at that time.
Reported market valuation. Approximately US$9.5 billion (3 June 2021)
Recent events
Sources2 sources
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