dLocal
dLocal (NASDAQ: DLO) is a Uruguay-founded, Malta-incorporated cross-border payments platform that enables global merchants to accept and disburse funds in 40+ emerging markets across Africa, Asia, and Latin America through a single API, exposing 1000+ local payment methods as Merchant of Record.
- Company typePublic
- Founded2016
- HeadquartersMontevideo, Uruguay
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
What dLocal does
dLocal is a public (NASDAQ: DLO) cross-border payments platform founded in 2016 in Uruguay and headquartered operationally in Montevideo, with its primary listed entity (DLocal Limited) incorporated in Malta and authorized by the Malta Financial Services Authority as an electronic money institution. The company enables global merchants to accept and disburse payments in 40+ emerging markets across Africa, the Middle East, Asia, and Latin America through a single API, exposing 1000+ local and alternative payment methods including cards, bank transfers, mobile money, eWallets, cash vouchers, real-time payment systems (Pix, UPI, M-Pesa, Bre-B), BNPL, and stablecoins. dLocal acts as Merchant of Record in each country it operates, with direct local acquirer connections, locally licensed subsidiaries (Brazil, UK, US as MSB, Nigeria via Demerge Nigeria), and embedded handling of local tax, FX, compliance, and chargeback management.
The platform architecture is a core-five (Payins, Payouts, dLocal for Platforms, Defense Suite, Invoice Collection) extended by specialized modules (BNPL Fuse, Stablecoin Full, SmartPix, Pix with Biometrics, Bre-B) and a small-business offering (dLocal Go). Proprietary technology components include Smart Routing (ML-driven transaction routing to the most effective local processors), Smart Chaining (fallback to alternative methods on failure), and the Defense Suite fraud/risk engine (real-time ML transaction scoring, device fingerprinting, chargeback management). Distribution runs through a sales-led enterprise GTM ('Contact Sales' funnel) combined with an API-first self-serve developer channel (docs, Postman collection, MCP server), supported by channel partnerships with Yuno, Convera, Circle, Alchemy Pay, F\xe9lix, Stable Sea, and others.
dLocal generates revenue primarily via a percentage take rate on each processed transaction, an FX spread on currency conversion, and usage-based fees for BNPL interest, chargeback protection, advanced settlement, and small-amount settlements, supplemented by negotiated minimum monthly fees. In FY2025, the company reported $1.09 billion in revenue (47% YoY growth) on $40.8B in TPV (60% YoY), $197 million in net income (63% YoY), and serves 760+ merchants including Google, Amazon, Meta, Microsoft, Spotify, Uber, Shopify, Shein, and others. The company is actively expanding its geographic footprint (Asia multi-year buildout, Africa via AZA Finance and Mint Code Solutions acquisitions), product surface (stablecoin and BNPL rails), and capital return profile ($300M buyback plus dividend initiation in 2026).
dLocal firmographics
Firmographics- Name
- dLocal
- Legal name
- DLocal Limited
- Website
- https://dlocal.com
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- dLocal (NASDAQ: DLO) is a Uruguay-founded, Malta-incorporated cross-border payments platform that enables global merchants to accept and disburse funds in 40+ emerging markets across Africa, Asia, and Latin America through a single API, exposing 1000+ local payment methods as Merchant of Record.
- Ownership category
- akta.pro rank
dLocal industry classification
Industry- Product category
- Cross-Border Payment Processing for Emerging Markets
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)
- akta.pro secondary industries
- Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC), Marketplace & Platform Payments (Split Payments, Sub-merchants) (FSAMACAG)
Keywords
Where dLocal is headquartered
LocationHeadquarters
- HQ city
- Montevideo
- HQ country
- Uruguay
- HQ region
- Latin America
Offices6 records
Markets served
dLocal business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Transaction processing fees (take rate): Primary revenue stream: a percentage fee on each approved transaction processed through dLocal's platform, applied on a per-transaction, usage-based basis across payins and payouts in 40+ emerging markets.
- FX spread on currency conversion: Revenue from the spread applied to foreign exchange conversion when settling payments in local currency but billing merchants in their home currency, plus dynamic FX on customer-facing conversions.
- Installment / BNPL interest: Interest charged on installment-based payments (BNPL) where applicable across supported markets.
- Value-added fees (chargeback protection, advanced settlement, low-value settlement fees): Ancillary fees for services such as chargeback protection, accelerated settlement (shorter than standard 14-day settlement), settlement fees below certain amounts, setup fees, and monthly account management fees.
- Negotiated minimum fees: Negotiated minimum monthly fees based on expected transaction volumes agreed during merchant onboarding.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Custom enterprise quote with per-transaction percentage fee plus FX spread |
| Other | Multi-year contract | Standard settlement period of 14 days (customizable) |
Go-to-market motion5 records
Distribution channels4 records
Marketing channels8 records
dLocal product offering
Product offeringCore offering
dLocal is a unified cross-border payment infrastructure platform that enables global merchants to accept and disburse payments across 60+ emerging markets in Africa, Asia, the Middle East, and Latin America through a single API integration. It operates as a Merchant of Record, providing access to 1000+ local payment methods (cards, bank transfers, mobile money, eWallets, cash vouchers, real-time payments, BNPL, stablecoins) with localized processing, FX conversion, fraud management, and regulatory compliance. Core solutions include Payins, Payouts, dLocal for Platforms (marketplace split payments), Defense Suite (fraud management), and Invoice Collection.
Product overview
dLocal is a unified payment infrastructure platform for emerging markets that connects global merchants with billions of consumers across 40+ countries in Africa, the Middle East, Asia, and Latin America. The architecture is platform-plus-modules: a core set of five solutions (Payins for accepting payments, Payouts for disbursing funds, dLocal for Platforms for marketplace/multi-party flows, Defense Suite for fraud management, and Invoice Collection for B2B invoice receivables) is extended by specialized payment modules and productized features including BNPL Fuse (Buy Now Pay Later aggregator), Stablecoin Full (stablecoin infrastructure), SmartPix, Pix with Biometrics, Bre-B (Colombia instant payments), and dLocal Go (small business offering). All products are accessible through a single API integration covering 1000+ payment methods, with shared infrastructure for compliance, FX, local processing, and Smart Routing/Smart Chaining.
Differentiator
Problem solved
Functional benefit
Brands
- BNPL Fuse: Buy Now, Pay Later aggregator for emerging markets, unifying multiple local BNPL providers (Atome, Payflex, Valu, Kueski, Pareto, and others) through a single platform across LATAM, Asia, the Middle East, and Africa.
- Stablecoin Full
- dLocal Go
- Defense Suite
- dLocal for Platforms
Products and services
- Payins All-in-one payment acceptance solution that enables global enterprises to receive payments from emerging markets through a single integration. Supports 1000+ local payment methods across 40+ countries, including cards, cash, bank transfers, mobile money, and eWallets, with Smart Routing, Smart Chaining, and dynamic FX conversion.
- Payouts Cross-border payout solution for paying staff, customers, freelancers, suppliers, and partners in their local currency. Supports mass settlements, dynamic FX conversion, no transfer limits, and automated settlement workflows (by timeline, by balance, or on-demand) from a single dashboard.
- dLocal for Platforms Marketplace and platform payment solution that unifies payins and payouts in local currency through one integration. Enables platforms to onboard users, accept, send, and split funds between multiple users, and consolidate reporting, refunds, and chargeback management.
- Defense Suite Comprehensive fraud management solution offering real-time transaction monitoring, machine learning-based transaction scoring, device fingerprinting, chargeback management tools, dispute resolution services, and data analytics to minimize financial loss compliantly across 60+ countries.
- Invoice Collection Solution for collecting invoice payments from customers in their local currency across 60+ emerging markets. Offers dynamic FX conversion, no-code immediate deployment, customizable workflows, and consolidated reporting to improve Days Sales Outstanding and reduce FX risk.
- BNPL Fuse Buy Now Pay Later aggregator for emerging markets that centralizes access to multiple local BNPL providers (Atome, Payflex, Valu, Kueski, Pareto, and others) through a single API, enabling merchants to offer instalments across eight countries in LATAM, Asia, the Middle East, and Africa.
- Stablecoin Full Complete stablecoin payment infrastructure for emerging markets that enables merchants to collect, convert, and pay out funds in stablecoins across more than 44 countries in Africa, Asia, the Middle East, and Latin America through a single API, treating stablecoins as a standard local payment method.
- dLocal Go Product offering designed to help small businesses start, grow, and succeed in emerging markets around the world through dLocal's payment infrastructure.
Quantifiable outcome
- Total Payment Volume of $40.8B in FY2025 (60% YoY growth; 82% CAGR since 2020); Q1 2026 TPV $14.1B (+73% YoY); Q4 2025 TPV $13.1B (+70% YoY)
- +6 more outcomes
Companies that use dLocal
Customer profileNamed customers58 records
Segments9 records
Ideal customer profiles3 records
dLocal technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability5 records
Feature10 records
dLocal partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered flagship, core and minor.
- inDriveflagshipLaunched end-to-end cashless card payments and local driver payouts in South Africa — the first market where this model was deployed. inDrive accepts local cards in-app, splits transactions between drivers and the platform, and disburses driver earnings via South African domestic rails, with the same model planned for additional Africa, Middle East, and Latin America markets.
- National ExchangecorePartnership to power remittance payouts across Africa, APAC, and Latin America, leveraging dLocal's cross-border payment network.
- Stable SeaflagshipStrategic partnership to enable low-cost, high-speed B2B stablecoin-powered international payments by leveraging dLocal's local payment rails across more than 40 countries. Targets the $35 trillion annual global B2B cross-border payments market, compressing settlement cycles and reducing prefunding requirements for enterprise and mid-market treasury teams.
- Open EnglishminorRolled out Bre-B instant payments for students in Colombia via dLocal's local payment infrastructure.
- Paco YbarracoreIndependent non-executive director appointed to dLocal's Board (effective 2 January 2026), bringing 36 years of experience from Citigroup where he served as CEO of the Institutional Clients Group. Also serves on Man Group plc's board.
- Nelson MattoscoreIndependent non-executive director appointed to dLocal's Board as part of the transition to a majority independent board, contributing product development and engineering leadership from his former role as Vice President at Google.
- ConveraflagshipStrategic partnership to streamline and scale local payout capabilities for cross-border B2B payments in emerging markets, starting with Colombia and expanding across Africa, Asia, and Latin America. Targets the $60 trillion cross-border B2B payments market growing at 8.6% annually, enabling cost-effective, compliant transactions for supplier disbursements, payroll, and vendor payments.
- YunocoreExpanded partnership to simplify global expansion for modern enterprises in emerging markets, combining dLocal's local payment infrastructure with Yuno's payment orchestration capabilities.
- National Bank PLC (Bangladesh)minorSigned remittance service agreement at National Bank's head office in Dhaka to deliver faster, secure, and more efficient cross-border remittance solutions for Bangladesh customers, leveraging dLocal's Malta-based electronic money institution infrastructure.
- PayQuickercorePartnership to expand PayQuicker's international payouts platform by integrating dLocal's cross-border payment network and local payment methods, supporting multiple currencies and transactions across Africa, the Middle East, Asia, and Latin America.
- Circle (Circle Payments Network / CPN)flagshipIntegration with Circle Payments Network (CPN), operated by Circle Technology Services, to facilitate stablecoin-based payouts in emerging markets, streamline cross-border fund disbursements, reduce costs, and provide a reliable user experience. Earlier partnership announced Circle and Fireblocks B2B treasury settlements using USDC.
- FélixcorePartnership to launch instant, stablecoin-funded WhatsApp remittances across Latin America (Mexico, Guatemala, Honduras, El Salvador). Transfers are funded by USD Coin (USDC) and complete in under two minutes, with most transfers sent from the US.
- KueskicorePartnership to expand the Buy Now, Pay Later (BNPL) model across merchants in Mexico, integrating Kueski's BNPL offering into dLocal's payment platform and BNPL Fuse aggregator.
- Alchemy PaycorePartnership to enable crypto-to-fiat payments in Latin America, starting with instant bank transfers in Argentina through dLocal's local payment infrastructure with USD settlement support. Designed as a foundation for broader expansion across Latin America, addressing cross-border transaction friction.
- DHL Express BrazilcorePartnership to automate Pix payments and accelerate parcel release in Brazil, integrating dLocal's Pix infrastructure with DHL's Brazilian logistics operations.
- AmwayminorPartnership to strengthen local payments for direct selling across Latin America via dLocal's emerging-markets payment infrastructure.
- HONORminorPartnership to launch localized payments in Peru's growing tech landscape for HONOR's consumer electronics business.
- DamisaminorPartnership to expand cross-border settlement in APAC, leveraging dLocal's local payment rails.
- BVNKcoreBVNK provides stablecoin infrastructure to dLocal; dLocal is listed as one of BVNK's enterprise customers alongside Worldpay and Flywire. BVNK doubled annualized payment volumes from $10B to $20B between December 2024 and October 2025.
- Amazon Web Services (AWS)coredLocal uses Amazon Quick Automate (an AWS agentic AI application) to automate compliance reviews, integrating data across sources and demonstrating AI-driven efficiency in compliance workflows.
- Trace FinanceminordLocal is a major client of Trace Finance, a stablecoin settlement network connecting banks in Brazil and the United States that has processed over $10 billion in cross-border transaction volume.
Scale indicators9 records
Recent moves8 records
Expansion highlights8 records
dLocal competitors and assessment
Company assessmentDirect peers
- Stripe: Global payments infrastructure provider increasingly expanding direct emerging-markets coverage and local payment methods. Competes head-to-head with dLocal for enterprise merchants seeking single-integration global payment processing, including in LATAM, Asia, and Africa.
- Adyen: Global unified payments platform serving enterprise merchants with single API and direct local processing. Competes with dLocal for large cross-border merchants expanding into emerging markets, with similar Merchant-of-Record-adjacent capabilities and a focus on unified global processing.
- Checkout.com: Global payment processor with strong presence in EMEA and growing LATAM/APAC footprint. Competes with dLocal for enterprise merchants seeking unified cross-border payment acceptance with local method coverage and optimization.
- EBANX: LATAM-focused cross-border payment processor with deep coverage of Brazilian, Mexican, and other LATAM payment methods. Most directly comparable peer for dLocal's LATAM enterprise franchise, including Pix, Boleto, and local credit/installments rails.
- PayU: Prosus-owned global payment service provider with deep EM presence across LATAM, Africa, and India. Operates local payment processing businesses in multiple markets where dLocal also competes, serving enterprise merchants and fintechs.
- Rapyd: Cross-border payments network and fintech-as-a-service platform covering 100+ countries with local payment methods. Overlaps with dLocal's payin/payout/platforms offering and competes for cross-border merchants needing local payment method coverage across EMs.
- TerraPay: Cross-border payments network focused on real-time remittances and B2B payments across emerging markets. Closely comparable to dLocal's payouts and remittance use cases, with significant overlap in corridors across Africa, Asia, and LATAM.
Broad incumbents
- PayPal: Established global digital payments incumbent (including Braintree, Honey, Xoom) with growing emerging-markets coverage via Xoom and Braintree. Broader consumer + merchant franchise overlaps with dLocal's cross-border merchant processing and remittance use cases.
- Worldpay: Large global merchant acquirer and payment processor serving enterprise merchants worldwide. While historically more focused on developed markets, Worldpay is expanding EM processing capabilities and competes with dLocal for large cross-border enterprise volume.
Emerging players
- PPRO: Cross-border payment orchestration platform providing local payment method coverage via single integration. Adjacent to dLocal's payin aggregation capability and competes for PSPs, acquirers, and merchants seeking local method access without building direct integrations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
dLocal social profiles
Digital presencedLocal compliance and trust
Trust signalCompliance7 records
dLocal financial estimates
Financial estimateRevenue estimate
Valuation estimate
dLocal leadership team
Management profileNumber of profiles
Profiles14 records
dLocal subsidiaries and ownership
Company hierarchySubsidiaries4 records
dLocal funding detail
Funding detailFunding overview
Funding rounds6 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
dLocal M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about dLocal
What does dLocal do?
dLocal is a unified cross-border payment infrastructure platform that enables global merchants to accept and disburse payments across 60+ emerging markets in Africa, Asia, the Middle East, and Latin America through a single API integration. It operates as a Merchant of Record, providing access to 1000+ local payment methods (cards, bank transfers, mobile money, eWallets, cash vouchers, real-time payments, BNPL, stablecoins) with localized processing, FX conversion, fraud management, and regulatory compliance. Core solutions include Payins, Payouts, dLocal for Platforms (marketplace split payments), Defense Suite (fraud management), and Invoice Collection.
Is dLocal a public or private company?
dLocal is a public company. It is classified as public and is currently operating.
When was dLocal founded?
dLocal was founded in 2016. It employs 1,001 to 5,000 people.
Where is dLocal based?
dLocal is headquartered in Montevideo, Uruguay, in the Latin America region.
How does dLocal make money?
Five revenue lines are on record. Transaction processing fees (take rate) is the primary driver. The others are FX spread on currency conversion, installment / BNPL interest, value-added fees (chargeback protection, advanced settlement, low-value settlement fees) and negotiated minimum fees.
Who are dLocal's main competitors?
Direct peers on record are Stripe, Adyen, Checkout.com, EBANX, PayU, Rapyd and TerraPay. Broad incumbents are PayPal and Worldpay. PPRO is listed as an emerging player.
Does dLocal have an API?
Yes. dLocal offers a public REST API for payment processing, accessible via a single integration. Developers can use the API to accept and disburse payments in 40+ emerging markets across 1000+ payment methods. The platform provides a dashboard for transaction management, Postman API collection for testing, sandbox support, API status page, and an MCP (Model Context Protocol) Server for integration with agentic IDEs. Integration features include Smart Routing, Smart Chaining, PCI-compliant white-label solutions, and automated settlement options (by timeline, by balance, or manual). Developer documentation is at docs.dlocal.com.
What industry is dLocal in?
dLocal's product category is Cross-Border Payment Processing for Emerging Markets. Its primary akta.pro industry code is FSAMAIAJ, Cross-Border Payouts & Mass Disbursements (Pay-outs), with a secondary code of FSAGAKAC, Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace). Its NAICS code is 522320 and its SIC code is 7372.