Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 2

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 2
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  |
| Risk Factors                                              | S-18 |
| Cautionary Statement Regarding Forward-Looking Statements | S-29 |
| Use of Proceeds                                           | S-31 |
| Capitalization                                            | S-32 |
| Description of Class A Common Shares                      | S-33 |
| Principal Shareholders and Selling Shareholder            | S-34 |
| Taxation                                                  | S-37 |
| Class A Common Shares Eligible for Future Sale            | S-42 |
| Underwriting                                              | S-44 |
| Expenses of the Offering                                  | S-57 |
| Validity of Securities                                    | S-58 |
| Experts                                                   | S-59 |
| Where You Can Find More Information                       | S-60 |

<div align='center'>Prospectus</div>

| About This Prospectus                                   |  1 |
| Where You Can Find More Information                     |  2 |
| Incorporation of Documents by Reference                 |  3 |
| Forward-Looking Statements                              |  4 |
| Risk Factors                                            |  6 |
| DLocal Limited                                          |  7 |
| Use of Proceeds                                         |  8 |
| Description of Share Capital                            |  9 |
| Service of Process and Enforcement of Civil Liabilities | 19 |
| Taxation                                                | 21 |
| Selling Shareholders                                    | 22 |
| Plan of Distribution                                    | 23 |
| Legal Matters                                           | 25 |
| Experts                                                 | 26 |

<div align='center'>S-i

About This Prospectus
Supplement</div>

This prospectus supplement has been prepared by
us solely for use in connection with the proposed offering of Class A common shares in the United States. J.P. Morgan Securities
LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BTG Pactual S.A. - Cayman Branch and Citigroup Global Markets Inc. will act as underwriters in this offering.

Neither we nor the selling shareholder nor the
underwriters, nor any of their respective agents, have authorized anyone to provide any information other than that contained in this
prospectus supplement, the accompanying prospectus or in any free writing prospectus prepared by or on behalf of us or to which we may
have referred you. We, the underwriters and their respective agents take no responsibility for, and can provide no assurance as to the
reliability of, any other information that others may give you. Neither we nor the selling