Banking Fintech News

dLocal Doubles African Footprint, Adds Four New Countries, Partners With Verve and Fawry

dLocal Achieves $1.2B Valuation After Securing New $200M Investment

Emerging market payments leader significantly expands its African country coverage, supporting local card payments, mobile money payments, and payouts in Kenya, Senegal, Ghana, and Cameroon, and strikes new partnerships in Nigeria (Verve) and Egypt (Fawry).

dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, today expanded its payments network to include KenyaSenegalGhana, and Cameroon. dLocal also added new integration partners in Nigeria and Egypt.

This expansion comes on the heels of an additional announcement in Latin America and the Caribbean, with Costa Rica, The Dominican Republic, and Panama, bringing the total number of countries in which dLocal operates to 26. Less than one month after the company’s $200 million growth equity investment announcement, dLocal wasted no time in pursuing the aggressive growth targets it set, one of which was to add 13 countries in the next 18 months.

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Expansion into Kenya, Senegal, Ghana, and Cameroon

In addition to local Visa and Mastercard credit cards, the recent expansion includes the following integrations to the dLocal 360° payment platform:

  • Kenya: Merchants selling into Kenya can now accept payments from mobile money platforms mPesa and Airtel.
  • Senegal: Merchants expanding into Senegal can now take payments from mobile money platforms Orange and Wizall Money.
  • Ghana: dLocal has enabled payment acceptance for merchants in Ghana to include mobile money platforms Vodafone, MTN, Tigo, and Airtel.
  • Cameroon: Added payment methods include mobile money platforms Orange and MTN.
  • Payouts: Merchants can now execute local payments and deposit local currency directly to mobile money and local bank accounts in all supported African countries.
  • Single API integration: Current dLocal clients can immediately grow revenue in these four countries via the platform’s single API, with no need for any additional integration.

“Africa is a tremendous untapped e-commerce opportunity. The number of internet users is significant, starting 2020 with 453 million users, and the region has huge potential for growth with an under 40% penetration rate,” said Adebiyi Aromolaran, Head of Expansion Africa of dLocal. “Mobile money schemes are experiencing the most growth in Sub-Saharan Africa. Mobile money platforms, such as mPesa, Orange, and Tigo, for example, have grown in popularity across the continent and should be accepted by companies looking to scale their businesses in this region. We’re excited to expand our network to include these four countries and solve the payments part of the growth equation for our clients.”

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Integration Partnerships

In addition to the Africa expansion, dLocal also struck key integration partnerships with two major payment providers in the region, Verve, out of Nigeria, and Fawry, out of Egypt.

dLocal is now supporting the 47 million locally issued Verve cards and tokens through its payment platform. Besides Nigeria, Africa’s largest market, the Verve cards are accepted in 21 African countries.

dLocal’s new partner Fawry, the leading cash payment method in Egypt, is adding over 166,500 cash payment locations to the dLocal network. Egypt eCommerce heavily relies on cash payments, accounting for about 65% of the total online transactions.

dLocal is already live in both countries.

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