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dLocal, a Uruguayan payment company, has received an important license in the United Kingdom. The company said it received a payment institution license from the Financial Conduct Authority (FCA), which oversees financial services in the U.K. With this new license, dLocal can begin working with new businesses in the U.K.
Before getting this license, dLocal could not work with new businesses in the UK because of some rules created when the nation left the European Union. These rules stopped dLocal from offering its services to businesses. But now, with the new license, the company aims to help businesses in the U.K.
dLocal Aims To Assist Growing Markets, Including Latin America, Africa, And Asia
Pedro Arnt, the leader of dLocal, spoke about how the company will serve differently from other payment companies in the United Kingdom. He said the firm is focused on helping businesses in emerging markets like Latin America, Africa, and Asia.
Arnt added that the company’s focus sets it apart from other payment companies in the country, such as Worldpay and Checkout.com. He said many of these other companies do not focus on these regions, which gives dLocal an advantage.
According to Arnt, the difference for dLocal is the countries where it helps businesses. These are the only regions dLocal works in. The leader said dLocal will focus on global companies in the United Kingdom that want to grow in countries like Africa and Latin America. The company hopes to help businesses expand in these areas.
dLocal was established in 2016 and has become one of the top payment companies in Latin America. The company helps businesses complete payments across borders, especially in Brazil, Mexico, Colombia, and Uruguay.
dLocal Plans To Expand Its Business In The U.K.
dLocal now wants to grow its business in the U.K. after getting the new license. The company plans to introduce more experts and be more active in the country. Arnt said that the company is already growing in the region. dLocal has now moved several senior leaders, including Chief Operating Officer Carlos Menendez and Chief Revenue Officer John O’Brien, to London.
Arnt also shared that getting the U.K. license will help dLocal be trusted by companies in developed countries. He revealed that the license will show that the company is a licensed partner that can handle payments in countries with difficult rules.
Even though dLocal is growing, it has to compete with other strong companies in the United Kingdom. The firm said the country already has big fintech companies like PayPal, Stripe, and Revolut. These companies have been around for a long time and are very successful.
In 2021, dLocal went public on the Nasdaq stock exchange with a value of $9 billion. However, its value has gone down to $3.4 billion recently. Despite this drop, dLocal’s stock has risen by 40% in the last six months.
