Investors pour $150 million funding into payments companies
dLocal, a Uruguay-based payments company has received $150 million in a fresh round of funding. Alkeon Capital led the round along with BOND, D1 Capital Partners, and Tiger Global. It follows the investment from General Atlantic, an early investor in the Company, and Addition.
With the latest funding announcement, payments fintechs have received a total of $2.885 billion new funding in 2021.
Along with new funding, dLocal has appointed Sumita Pandit as Chief Operating Officer and the company is also promoting its former Chief Operating Officer Jacobo Singer to President.
In the press note, the company claimed it has connected merchants with ‘billions of emerging market consumers in 29 countries across APAC, the Middle East, Latin America, and Africa’. It has 325 global merchants and accepts over ‘600 local payment methods, as well as issuing millions of payments to their contractors, agents, and sellers in growth markets around the world’.
Some of its customers include Amazon, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, Microsoft, Spotify, TripAdvisor, Uber, Wikimedia, and Zara.
Another fintech company, Modulr also received undisclosed funding from FIS Ventures. The press release noted that FIS would leverage the API-based payments infrastructure from Modulr ‘to facilitate and automate real-time, business-to-business, payments in the U.K. and Europe as part of FIS’ broader real-time payments strategy’.
The company also noted that it is ‘tapping into the massive business-to-business payments digitisation opportunity by working with software platforms that serve small and medium-sized businesses’.
In 2020, the company received investment from PayPal Ventures and has raised a total of £63.3 million.