Skip to content
Subscriber Only

Latin America’s Newest Unicorn Hails From Tiny Uruguay

  • Funding round values dLocal payments firm at $1.2 billion
  • General Atlantic-backed start-up expanding to 13 countries
Sebastian Kanovich
Sebastian KanovichSource: dLocal
Updated on

Latin America’s newest unicorn dLocal -- the first to emerge from Uruguay with a population of just 3.5 million people -- is looking to double sales and expand to other developing nations after securing new financing.

The company, which was valued at $1.2 billion in the latest funding round, plans to use the proceeds to develop new services, products and kick off operations in 13 new nations, including Kenya, Vietnam and Thailand, according to founder and Chief Executive Officer Sebastian Kanovich.