Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 0

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 0
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The information in this preliminary prospectus supplement and the prospectus to which it relates is not complete and may be changed. This
preliminary prospectus supplement and the prospectus to which it relates are not an offer to sell nor do they seek an offer to buy these
securities in any jurisdiction where the offer or sale is not permitted.

<div align='center'>SUBJECT TO COMPLETION, DATED SEPTEMBER
3, 2025</div>

| PRELIMINARY PROSPECTUS SUPPLEMENT       
 (To Prospectus dated September 3, 2025) | Filed pursuant to Rule 424(b)(3)      
 Registration Statement No. 333-290009 |

<div align='center'>15,000,000 Class A Common Shares

DLocal Limited(incorporated in the Cayman Islands)</div>

This is a public offering of 15,000,000 Class A
common shares of par value US$0.002 each of DLocal Limited, or dLocal, by General Atlantic DO B.V., or the selling shareholder. We will not receive any proceeds from the sale of Class A common shares by the
selling shareholder.

Our Class A common shares are listed on the
Nasdaq Global Select Market under the symbol “DLO.” On September 2, 2025, the last reported sale price of our Class A
common shares on the Nasdaq Global Select Market was US$14.18. The final public offering price will be determined through negotiation
between the selling shareholder and the underwriters in the offering and the recent market price used throughout this prospectus supplement
may not be indicative of the final offering price.

We have two classes of common shares: our Class A
common shares and our Class B common shares. The rights of the holders of Class A common shares and Class B common shares
are identical, except with respect to voting, conversion and transfer restrictions applicable to the Class B common shares. Each
Class A common share is entitled to one vote. Each Class B common share is entitled to five votes and is convertible into one
Class A common share automatically upon transfer, subject to certain exceptions. Holders of Class A common shares and Class B
common shares vote together as a single class on all matters unless otherwise required by law. Following this offering, our issued and
outstanding Class B common shares will continue to represent approximately 79.67% of the combined voting power of our outstanding
common shares, regardless of the exercise of the under