A Uruguayan FinTech has listed on the US stock market, making its founders billionaires.
In Brief:
DLocal isa payments business which enables companies like Amazon to handle payments in 29 developing countries.
It became Uruguay’s first unicorn in 2020.
Now, it’s valued at $9.5bn following its public listing.
What does this mean?
Shares in DLocal rose by 54% on the first day of trading. Its founders Andres Bzurovski and Sergio Fogel, according to the Bloomberg Billionaires Index, are now collectively valued at around $3.29bn.
