Uruguayan payments startup dLocal has raised $150m in a new investment round led by Alkeon Capital with participation from BOND, D1 Capital Partners, and Tiger Global.

This latest financing more than quadruple the dLocal’s valuation to $5bn.

It follows the $200m investment in the firm by General Atlantic and Addition last September, which secured unicorn status to the firm.

dLocal CEO Sebastián Kanovich said: “I am thrilled about this next era of growth for dLocal, the addition of new world-class investors, and what it means for our customers.

“This new investment combined with our strengthened leadership team will allow us to further focus on our customers’ success.”

dLocal facilitate local payments in emerging markets by connecting global enterprise merchants with consumers. It currently operates in 29 countries across APAC, the Middle East, Latin America, and Africa.

According to the company, over 325 global merchants utilise its platform to accept more than 600 local payment methods. They also leverage the platform to issue payments to their contractors, agents, and sellers across the globe.

Alkeon Capital general partner Deepak Ravichandran said: “dLocal’s unique platform empowers merchants with a single integrated payment solution, to reach billions of customers, accept payments, send payouts, and settle funds globally.

“We are excited to lead this investment round and to team up with Sebastián and the dLocal team, during an exciting phase of growth for the company.”

New appointments:

Following the investment round, dLocal has named Sumita Pandit as its new chief operating officer.

Pandit most recently served as managing director and global head of fintech investment banking at JP Morgan. She specialises in investment banking, advising companies across verticals in fintech including payments, neo-banks, financial software, and insurtech.

She previously also worked at Goldman Sachs.

Meanwhile, dLocal has promoted its former chief operating officer Jacobo Singer to the role of president. Pandit will report to Kanovich and Singer.

Commenting on the new appointments, Kanovich added: “Sumita is a highly respected and accomplished fintech investment banker, and she’s played a pivotal role advising some of the world’s most successful fintech companies as they’ve scaled to become global leaders.

“We are excited to welcome her as our new COO, where she’ll help steer dLocal’s next chapter of growth and strengthen our position as an essential service for global merchants that rely on us to access consumers in emerging markets and accelerate their overall growth strategies.”