dLocal Bags $1.2 Billion Valuation

dLocal, an Uruguay-based fintech upstart, has secured $200 million in new funding led by investment firm General Atlantic, with participation from Addition, a recently launched tech-focused investment firm. The new funding values dLocal at $1.2 billion, marking the first-ever private tech 'unicorn' to be based in Uruguay. dLocal says it'll use the new capital to accelerate its global expansion, with the company targeting to launch in 13 new markets over the next 18 months. The company particularly focuses on countries in Central America, Africa, and Southeast Asia.

dLocal was founded in Uruguay since 2016 and has impressively stayed profitable since its inception. Before now, the company had only raised a relatively paltry $7 million in funding from investors. dLocal says it's achieved over 100% growth over the past four years, with the company now serving 450 merchants across 20 countries. dLocal is primarily a payments processor that manages payments for companies mainly in developing and emerging countries. The company serves merchants globally, including notable names such as Uber, TripAdvisor, MailChimp, GoDaddy, and Dropbox. 

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