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Ripple Client dLocal Rakes in Over $617 Million in Its U.S. IPO

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Thu, 06/03/2021 - 13:34
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Yuri Molchan
Payment company dLocal has raised more than $617 million in its IPO conducted in the U.S.
Ripple Client dLocal Rakes in Over $617 Million in Its U.S. IPO
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According to Reuters, RippleNet member from Uruguay, dLocal, has raked in a whopping $617.65 million in its recent U.S. public offering.

The company had offered 29.4 million shares for sale at $21 per share. The IPO evaluation of the company is $6.06 billion. The first mention of the upcoming IPO, as covered previously by U.Today, was made on May 5.

The company had filed for an IPO confidentially.

As reported by U.Today, according to the head of SBI Group, Yoshitaka Kitao, the Ripple fintech giant would also file for an IPO after the legal war with the U.S. securities agency, the SEC, is over.

Related
Ripple Client dLocal Files for IPO in the US

dLocal emerged in 2016 and mainly works in the developing markets, offering remittances and payments in Asia, Africa and Latin America.

The firm has recently expanded its business to three new markets—the Philippines, Malaysia and Vietnam—after hiring former top executive who used to work for Goldman Sachs and JP Morgan, Sumita Pandit, to take the position of chief operating officer.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.