Money20/20 USA: dLocal – Growth of Uruguay’s first unicorn

Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and offer key insights into the future of fintech.

We spoke to Justo Benetti, SVP and Head of Americas for dLocal, on the company’s continued growth after becoming the first unicorn to come out of Uruguay. 

dLocal: Sustaining growth 

Understandably, after taking the gong as Uruguay’s first unicorn, “it has been an exciting time” for Benetti and his team. 

“We started with a very, very small team, which you would never think as a tech hub we are today,” says Benetti. “But at the time we started solving complex payments problems.

“We managed to get lucky by working with very big enterprise customers who were trying to access the region we operate in. So it’s been great to see our evolution – solving for one or two pain points in the market to expand across LatAm and the Caribbean, then Africa and the Asia Pacific. 

“This helped us go from startup to become a stock-listed company. So the ride has been amazing and something we need to thank our partners for.”

dLocal: A customer-led company

At the heart of what dLocal does is focus on its customers, meeting their complex needs and solving individual, relevant problems for them. 

“Solving for customers is so important,” adds Benetti. “At the end of the day, we’re helping solve the complex solutions for them in emerging markets, helping them move money, whether that's accepting a payment or making a payout, and whether that's for a B2B or a B2C company.

“Specialising in LatAm, which is obviously our strongest area, one of the challenges for us when scaling was solving more complex solutions for partners in markets we weren’t familiar with.

“We’re in the stage of mastering that right now, and we cover 40 plus markets globally now with over 900 different payment methods. 

“So we definitely are in the phase of scaling. We’re growing and hope to keep solving the payments problems for our enterprise customers across the globe.”

For more from Benetti and the latest from dLocal, you can click on the video link above. 

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.

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