Uruguay-based payments provider dLocal has engaged Morgan Stanley to assist it with a potential sale, reported Reuters, citing undisclosed sources.
With a market value of about $3.6bn, the payments company is currently assessing interest from potential buyers, according to sources.
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The list of potential buyers includes private equity houses and financial technology companies. However, the sources stressed that there is no certainty of a deal being sealed.
Last year too, the company initiated a sale process with investment bankers but failed to reach an agreement on financial terms with interested parties, one source revealed.
Operating across most of Latin America, as well as in select regions of Africa and Asia, dLocal counts Amazon, Microsoft, and Google, among others, as clients.
General Atlantic is the company’s largest shareholder.
The shares of dLocal have been traded on the New York Stock Exchange since 2021.
The company reported a five percent increase in gross profit in its latest quarterly earnings.
Its business model, known as the “One dLocal” concept, streamlines the process for global merchants to engage with consumers in various markets.
The company offers a direct API, a single platform, and one contract, allowing businesses to manage payments and settlements efficiently without the need to navigate multiple local payment processors and legal entities.
Last month, dLocal secured certification as a payment initiation service provider (PISP) for Pix in Brazil.
This certification allows dLocal to support Pix payments within Brazil’s Open Finance ecosystem.
