dLocal expands to Egypt and Morocco
dLocal, a payments technology company uniquely focused on emerging markets, is building on the momentum of another year of solid growth with expansions in its boardroom, C-Suite, and roster of regions where its ecommerce customers are uncovering opportunities.
The company is steadily adding new emerging markets to its countries of coverage. Building off of last year's expansion into Turkey and India, dLocal is now enabling acceptance and disbursement of payments in Morocco and Egypt.
dLocal's expansion into the Middle East and North Africa is fueled by demand from its customers, who see enormous opportunities in these markets, but lack the ability to reach them effectively without local payment capabilities.
To effectively reach billions of emerging consumers and businesses in LATAM, APAC and EMEA, global merchants have to know how to process hundreds of local payment methods, work with disjointed infrastructure, accept numerous currencies and become experts in local laws.
dLocal's flexible solution takes care of these hurdles while addressing a wide range of business models and cross-border payment scenarios in growth markets.
With support for 300+ local payment methods, and more than 450 e-commerce companies, dLocal's cross-border payments platform is successfully processing low-value, high-volume e-commerce transactions, subscription payments, high-value remittances, mass payouts, payment collections and everything in between.
The company is closing a second, incredibly successful year with the addition of noted Silicon Valley builder-investor Oren Zeev, who has joined dLocal as both a board advisor and investor. Mr. Zeev is an early investor and has served, or is currently serving, on the boards of Audible, Chegg, Houzz, Tipalti and TripActions.
Zeev joins the company as a tailwind, 140% year-over-year revenue growth enhances its ability to meet an influx in demand from global online companies for localized payment options in high-growth, emerging markets.
Zeev will help guide dLocal's further growth across LATAM, EMEA and APAC regions where the company is solving cross-border payment challenges for US and European online retail, digital, SaaS and travel companies including Uber, Sony, GoDaddy, Constant Contact and Avast.
"Emerging markets present an enormous opportunity for many online companies, however without a localized payments strategy, those markets remain largely inaccessible to them. dLocal has shown incredible innovation with enabling local payment options for some of the most innovative companies in the world," said Zeev. "I'm looking forward to playing an active part in dLocal's growth as they help many more companies to expand into growth markets across Latin America, APAC, Middle East and Africa."
dLocal has also added payments veteran Marcelo Perez as CFO. Mr. Perez brings over 25 years of experience as an international finance and strategy executive. Mr. Perez has held senior positions in finance, risk, and corporate development at Visa, GE Capital, Citibank, Cielo and Transfast. He received his MBA from New York University's Leonard N. Stern School of Business, and his Accounting and Business Administration degrees from Universidad Nacional de Córdoba in Argentina.
Over the last year, dLocal has more than doubled their team to 120 employees globally, while also opening an office in Tel Aviv, Israel to expand their sales, R&D, security and other key departments.
"The flexibility of our platform, and knowledge of local markets, has allowed us to customize the way each client enters emerging markets -- whether they wish to launch in one country a year, or five countries in one quarter," said dLocal CEO, Sebastián Kanovich. "The additions of both Mr. Zeev and Mr. Perez will be an incredible boon to the continued growth of dLocal and our ability to help more companies expand into the world's fastest-growing, emerging markets."
