“Can a single API own cross-border payins, payouts, and increasingly stablecoin rails for every emerging market that the global internet wants to reach?”
Founded 2016 as a single-API cross-border payments processor connecting global merchants (Spotify, Google, Uber, Netflix) to emerging-market consumers in LatAm, Africa, and Asia. Bootstrapped early before raising from General Atlantic, reaching unicorn status in 2020 and IPO'ing on Nasdaq in 2021. Currently broadening from pure payins/payouts into BNPL aggregation (BNPL Fuse), stablecoin rails (Circle Payments Network, Stable Sea), and platform/marketplace tooling — positioning as the 'financial OS for emerging markets' rather than just a PSP.
dLocal processes payments through dLocal Payins (self-operated), dLocal Payouts (self-operated) and dLocal for Platforms (self-operated).
dLocal connects to bank accounts through dLocal PISP (self, Brazil Pix).
dLocal uses dLocal Payouts (self-operated) and Convera (partner) for FX and cross-border payouts.
dLocal's crypto products run on Circle (Circle Payments Network) and Stable Sea.
The Embedded Finance Index 2026 maps 5 layers in dLocal's stack: Payments / PSP (dLocal Payins (self-operated), dLocal Payouts (self-operated) and dLocal for Platforms (self-operated)); Lending (BNPL Fuse (BNPL aggregator), Payflex and Atome); Open banking (dLocal PISP (self, Brazil Pix)); FX & payouts (dLocal Payouts (self-operated) and Convera (partner)); Crypto (Circle (Circle Payments Network) and Stable Sea).
dLocal was founded by Andrés Bzurovski and Sergio Fogel and is founded in 2016, headquartered in Montevideo, Uruguay.
dLocal has raised $350M+ (pre-IPO) in total (latest round: IPO (Nasdaq: DLO), June 2021; valuation: $9.5B (IPO, 2021)).
Get a read on where your own stack stands against dLocal and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.