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    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      Home Fintech

      Uruguay-based payment startup DLocal confidentially files for US IPO

      USTechTimes Editor by USTechTimes Editor
      May 6, 2021
      Dlocal

      DLocal is a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets.

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      The Uruguay-based company DLocal, a payment startup, has confidentially filed for a US initial public offering (IPO), according to sources with knowledge of the development. DLocal is working with banks, including JPMorgan Chase & Co., on a listing that could occur soon, a source said.

      According to reports, the timing for the same hasn’t been finalized yet and could still change, but it is expected to happen in 2021. DLocal is set to be valued at more than $5 billion in any listing, the people said.

      Expanding to Southeast Asia

      Meanwhile, DLocal, a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, has announced operations in three new countries in Southeast Asia, including Malaysia, the Philippines, and Vietnam.

      These countries, along with the region’s other two largest economies, Indonesia and Singapore, have seen significant e-commerce growth due to their expanded digital footprint in the wake of the pandemic. According to a 2020 Economy Report, e-commerce volumes in Southeast

      Asia reached more than $62 billion in 2020 alone – a 63% increase from the previous year –which has amplified the region’s impact on the global eCommerce market.

      Founded in 2016, DLocal counts General Atlantic, Tiger Global, D1 Capital Partners, Bond, and Alkeon Capital among its investors. Led by Chief Executive Officer Sebastián Kanovich, it processes cross-border payments for global operators such as Amazon.com Inc., Spotify Technology SA, Booking Holdings Inc., GoDaddy Inc., and Uber Technologies Inc.

      Digital payment companies on the path to go public

      DLocal will be among several payment companies that are set to go public. Paymentus Holdings Inc., PicS Ltd., and Flywire Corp. have filed paperwork with the Securities and Exchange Commission ahead of their IPOs. Marqeta is also planning an IPO as soon as this year, as per news agency Bloomsberg close to the development.

      Paysafe Ltd. went public through a merger with a special purpose acquisition company this year and Payoneer Inc. agreed to go public via a SPAC, as both firms spurned traditional IPOs. Last year, Kanovich told PYMNTS that cross-border experiences have to come out with some measure of local experience for the end-user. Multinational enterprises need to understand the unique payment needs of customers depending on where they reside and how they shop.

      DLocal will now provide payment capabilities for eWallets, cash and international card payments, as well as chargebacks and refunds. The expansion includes the following integrations to the DLocal 360° payment platform.

      Following its landmark investment round announced in September 2020, DLocal has aggressively grown its footprint in 11 countries, outpacing the company’s stated goal to add 13 countries of coverage within 18 months of securing the new capital.

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      Tags: DlocalFintechIPOPayment PlatformUruguayUSA
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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