dLocal, a cross-border payment platform focused on high-growth markets, announced on Thursday that it is expanding its partnership with Deel, an HR and payroll platform, to 12 new countries across Asia and the EMEA region.
dLocal, Deel Expand Partnership to 12 Countries amid Remote Work Boom
The expansion follows a successful initial deployment across 19 countries in 2022, which resulted in a significant increase in payment volumes and payment delivery rate of 99.97%.
"dLocal's payments experience helped us stand apart, and this major expansion to high-growth markets is a vote of confidence in the quality of that experience," said Deel COO Dan Westgarth. We’ve been able to expand rapidly when we were ready and on our terms.”
Under the expanded partnership, dLocal will provide its services in Indonesia, Malaysia, Thailand, Vietnam, Ghana, Jordan, Kenya, Morocco, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Additionally, dLocal will offer payout services in Brazil through PIX, an instant payment method popular in the Latin America.
"We're in the business of facilitating growth and opportunities for brands and individuals, and the Deel use case is exactly that,” Agustin Botta, dLocal's Head of EMEA, stated.
New Partnerships
Recently, the company also partnered with Papaya Global, another payroll platform. The collaboration between dLocal and Papaya Global aims to facilitate global organizations in making timely payments to their employees, partners, freelancers, and suppliers in local currencies, regardless of their location. The integration of dLocal's payment capabilities into Papaya's platform simplifies the payment process for their shared clients.
A few weeks earlier, Ebury joined as a partner to enhance its cross-border payments in Africa. Through the utilization of dLocal's payment solution, Ebury can efficiently handle both incoming and outgoing payments while streamlining costs and delivery times. Additionally, dLocal provides extensive support to Ebury's merchants when navigating the complexities of emerging markets. As Ebury expands its presence in these markets, the partnership with dLocal grants access to over 41 different regions through a single integration.
dLocal is a publicly traded company on NASDAQ that has completed four funding rounds in its history. The latest and largest round occurred in 2021, when the company raised $150 million, achieving a valuation of $5 billion.
