Uruguayan payment startup DLocal (DLO.O) said on Wednesday it raised $617.65 million in its initial public offering.
DLocal priced 29.4 million shares at $21 per share, the company said, above its indicated $16-$18 range. The IPO values DLocal at $6.06 billion. Of the shares sold, around 4.4 million were by DLocal and 25 million by current investors.
The company’s debut comes amid a flurry of payment companies that went public this year. Paymentus Holdings Inc (PAY.N), and Flywire Corp (FLYW.O) both started trading last month. Marqeta (MQ.O) is also set to go public next week.
Founded in 2016, DLocal counts the likes of General Atlantic and Mastercard Inc (MA.N) among its prominent backers. It processes payments for global operators in emerging markets including Amazon.com Inc (AMZN.O), Spotify Technology SA (SPOT.N), Didi, and Kuaishou.
Do you know your company’s value? Position yourself for success in 2021. With the industry’s foremost expert on valuations, The Strawhecker Group (TSG) works with clients to arm them with critical decision-making information.
What should you be doing right now?
Determining the value of a merchant portfolio is not a simple task. Luckily, TSG can position you for success with its unique “bottom up” approach analyzing the minutia of every merchant in the portfolio in order to accurately access its value. Email us to get started today.
Learn more about TSG’s valuations, matchmaking, and due diligence support that may help as you strategize for 2021.