dLocal, Uruguay’s first unicorn, goes public on the New York Stock Exchange

RIO DE JANEIRO, BRAZIL – The company dLocal, which specializes in payment solutions, and which became Uruguay’s first unicorn in September 2020 after reaching a market valuation of more than US$1 billion, went public this Thursday on the New York Stock Exchange.

The IPO, under the code DLO, was made through an offering whose high demand on the previous day raised the placement price from the $16-18 initially expected to $21, so that the company added some US$617.4 million to its value, rising to around US$6.1 billion, as reported at the opening of the Nasdaq session.

Sebastián Kanovich, chief executive of the company founded in 2006 in Uruguay and with establishments in five other countries, was in charge of ringing the opening bell to make dLocal the second Uruguayan company to go public after StarMedia did so in 1999.

dlocal is a 360 payments technology platform for emerging markets, works with more than 450 global merchants to maximize revenue, eliminate cross-border payment complexities, and minimize operational costs.

The payments expert offers more than 300 locally relevant payment methods. These enable users in emerging markets to buy any goods or services without having a credit card or bank account.

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