Uruguayan fintech Dlocal posts jump in Q1 profit amid record payment volumes


MEXICO CITY, May 17 (Reuters) – Uruguayan fintech Dlocal
on Wednesday posted a 35% year-on-year jump in its
first-quarter profit, landing at $35.5 million amid a strong
boost in payments volumes.

The payment provider’s profit was boosted by strong revenues
“across all regions,” Dlocal said, as total payments volumes
grew 70% year-on-year to reach record levels, buoyed by big
clients including Netflix and Amazon.

The company said revenues for the period rose 57% to
$137 million; within the company’s


range of between $135 million to $138 million.

Dlocal, which operates across most of Latin America as well
as parts of Africa and Asia, saw adjusted earnings before
interest, taxes, depreciation and amortization (EBITDA) grow 38%
to $45.5 million.

“Our business has shown sustained and resilient growth
supported by the diversity of our merchants across industry
verticals, geographies, and products,” said CEO Sebastian

The results follow a difficult period for the…

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