Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 24

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 24
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 record of account management, cross-selling merchants, and expanding their use of our services, which will help us broaden their use of our platform across both additional solutions (e.g., offering pay-out solutions to a pay-in only merchant) and countries (e.g., activating our platform in India for a merchant currently only engaging with us in Latin America). We believe that our continuous investments in enhancing the merchant experience (both for the merchants and for their end users), our strong problem-solving culture, our ever-evolving use of technology and AI, will help us deliver superior service, leading our merchants to increase the percentage of their overall volume routed to dLocal.

Increase number of global merchant clients

Our dedicated sales team continues to develop
new global merchant relationships with the intent to be on-boarded and provide them with our solutions and capabilities across one or
multiple emerging markets. Furthermore, we will continue to benefit from the ability to reference our existing clients to recommend our
platform, helping us gain traction with new global merchants. To further expand our merchant base, we have developed a robust sales process
with a proven track-record of winning competitive requests for proposals, or RFPs. Global merchants typically conduct a rigorous bidding
and due diligence process before choosing and on-boarding their preferred PSP, evaluating candidates across many factors primarily including
approval rates, technical capabilities, security, fraud management capabilities, payments experience, and price (including price transparency).
The process from the initial RFP to final integration can take several months and typically involves multiple functional areas of the
merchant, including payments infrastructure, operations, legal, compliance, and tax departments. For example, the combined RFP and on-boarding
processes can take in general between two months to just over two years.

Expand our global reach

We believe that the online global payments market is massive and remains underserved, particularly in emerging markets, where dLocal is focused. We have made significant investments to develop a flexible and extensible platform that can adapt to the specific needs of new local markets we enter. We seek to continue to leverage the scalability of our technology to broaden our geographic footprint. We believe the use of artificial intelligence tools can support a more rapid market expansion.

We believe our playbook for expanding into new emerging markets is difficult to replicate. We have developed a systematic approach to understand the local regulatory and tax frameworks, obtain all necessary licenses and required approvals, and establish relationships and connectivity with key partners (including APMs and local financial institutions). We tailor our strategy based on the consumption and behavioral trends specific