Uruguay Payment Co. Hits Unicorn Status After $200M Round

Law360 (September 15, 2020, 6:44 PM EDT) -- DLocal, a Uruguay-based cross-border payment platform, said Tuesday it's now valued at $1.2 billion after receiving $200 million in a funding round spearheaded by private equity firm General Atlantic to support its expansion plans.

DLocal, which dubbed itself Uruguay's first unicorn — a label that refers to companies that are valued at $1 billion or more — said in a press release it has achieved the feat as businesses including music streaming platform Spotify and Spanish clothing chain Zara have expanded their payment offerings in Latin America using dLocal's financial technology. 

Newly launched investment firm Addition joined the fundraise as a...

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