Opening Day: Payment Startup DLocal Raises $618M In IPO

Payment startup dLocal raised $617.65M in its initial public offering, the latest payment company to come public this year. Paymentus (PAY) and Flywire (FLYW) both started trading last month, with Marqeta also set to go public soon.

LATEST IPOS AND DIRECT LISTINGS:

dLocal (DLO) opened on June 3 at $31. The company had priced 29.41M shares at $21.00, above the $16.00-$18.00 target range. JPMorgan, Goldman Sachs, Citi and Morgan Stanley acted as joint book running managers for the offering. dLocal offers services for local payments in emerging markets in 29 countries across APAC, the Middle East, Latin America, and Africa.

PERFORMANCE:

  • dLocal finished Friday at $34.52.
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