LATAM welcomes newest fintech unicorn

The funding let dLocal to become the newest fintech unicorn in Latin America

fintech unicorn

LATAM welcomes newest fintech unicorn. Source: unsplash.com

Uruguayan payments company dLocal has announced up to $200 million in new investment, led by existing investor General Atlantic. Being valued at $1.2 billion, it became the country’s first unicorn and one of the highest-valued Latin American fintechs.

dLocal’s recent momentum is underscored by new business expansions in additional markets, including India, Morocco, Nigeria, and South Africa.

The fintech unicorn revealed it will use the funding to boost global expansion, targeting 13 new markets over the next 18 months including Central America, Africa, and Southeast Asia countries.

The company will also further build and enhance its product set to solve critical pain points for global merchants.

We’ve reported that Glovo will sell its operations in Latin America for €230 million to the German delivery company Delivery Hero.

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