Unicorn Latin American cross-border payments platform dLocal is exploring a potential sale, according to Reuters.
The Uruguay-based firm has called in Morgan Stanley to explore its options, including a sale, says Reuters, citing sources.
DLocal went public in 2021 and counts buyout firm General Atlantic as its largest shareholder. The company's shares fell about 33% last year, giving it a value of around $3.4 billion.
The firm specialises in connecting global merchants to emerging markets, enabling clients to accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.
The latest move comes after a 2023 sale exploration fizzled out after financial terms with potential buyers could not be agreed on.