dLocal Announces Appointment of Sergio Fogel as Co-President and Chief Strategy Officer, and completion of major share purchase by key shareholders
June 07 2023 - 4:01PM
DLocal Limited (“dLocal,” the “Company,” “we,” “us,” and “our”)
(Nasdaq: DLO), a technology-first payments platform enabling global
enterprise merchants to connect with billions of consumers in
emerging markets, today announced that Sergio Fogel was appointed
as Co-President and Chief Strategy Officer.
Sergio Fogel co-founded dLocal and has been an
active member of the Board, providing strategic vision and hands-on
support on key business initiatives since the Company’s inception.
His appointment as Co-President and Chief Strategy Officer
formalizes the role he has been carrying out alongside Sebastián
Kanovich (CEO) and Jacobo Singer (Co-President and COO). Mr. Fogel
will continue to serve on the Board. Mr. Fogel has had a strong
working relationship with the senior management of the company
since 2016 and forms with them an exceptional partnership combining
a highly complementary skill set. Mr. Fogel contributes extensive
experience as a successful serial entrepreneur in the tech space
with over 30 years of leadership experience. As shareholders and
executives, Mr. Kanovich, Mr. Singer and Mr. Fogel are fully
committed to the long-term success of dLocal, capitalizing on the
opportunities ahead and generating sustainable value for dLocal's
shareholders.
“Our opportunity to connect global merchants
with emerging markets users is significant. I am excited to work
even more closely with Sergio, making this role official as we work
together to grow dLocal’s business,” said Sebastián Kanovich. “His
proven leadership skills, experience and commitment to our core
values and culture have been, and will be, instrumental in
continuing our growth.”
Sergio Fogel stated “I am delighted to be
assuming this executive role to continue supporting a dynamic,
growth-focused leadership team as we guide dLocal’s business
through the next phase of growth. dLocal’s development since its
founding showcases the dedication and exceptional efforts of our
entire teams. I am confident the future is bright with us leading
it forward.”
In addition, the Company announces that, as
anticipated in its press release dated December 20, 2022, certain
key shareholders have, since the date of such press release,
purchased in the aggregate amount of approximately $160 million of
the Company's Class A common shares in open market transactions
($100 million by General Atlantic, and approximately $60 million by
Sergio Fogel, Andres Bzurovski and Eduardo Azar).
“I am deeply grateful for the extraordinary
display of support from our founding shareholders and General
Atlantic.” Added Kanovich “Their financial commitment and ongoing
dedication to our company demonstrate their confidence in our
long-term future. It is truly a privilege to have the trust and
confidence of our shareholders. We value their partnership
immensely and remain committed to delivering exceptional results
together."
About Sergio Fogel
Mr. Fogel has over 30 years of working
experience as an entrepreneur, executive and investor. He is a
member of our board of directors and an active angel investor
having invested in over 30 early-stage technology startups. He is
highly valued as mentor and strategic advisor by startup founders.
Mr. Fogel serves as Vice-President of Endeavor Uruguay, and sits on
the board of Impulso, a school serving underprivileged kids in
Montevideo, and REDALCO, an NGO that aims to reduce food insecurity
in a sustainable way. He co-founded dLocal in 2016, after having
founded several other companies, such as ElAgora.com (a B2B
marketplace), Uniotel (VoIP), and Astropay (a payments processor).
Previous to his entrepreneurship career, Mr Fogel worked as
research fellow in IBM’s state-of-the-art Haifa Research Lab, and
then as account manager for Oracle in Latin America. Mr. Fogel
holds an MBA from INSEAD, France, a Bachelor of Arts in Computer
Science Summa Cum Laude, and a Master of Science in Computer
Science from Technion, Israel Institute of Technology He also
founded and co-organizes Punta Tech Meetup, a gathering of
entrepreneurs and investors in Punta del Este.
About dLocal
dLocal powers local payments in emerging
markets, connecting global enterprise merchants with billions of
emerging market consumers in 40 countries across APAC, the Middle
East, Latin America, and Africa. Through the “One dLocal” platform
(one direct API, one platform, and one contract), global companies
can accept payments, send pay-outs and settle funds globally
without the need to manage separate pay-in and pay-out processors,
set up numerous local entities, and integrate multiple acquirers
and payment methods in each market.
Forward-Looking Statements
This press release contains certain
forward-looking statements. These forward-looking statements convey
dLocal’s current expectations or forecasts of future events.
Forward-looking statements regarding dLocal involve known and
unknown risks, uncertainties and other factors that may cause
dLocal’s actual results, performance or achievements to be
materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. Certain of these risks and uncertainties are described
in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary
Statement Regarding Forward-Looking Statements” sections of
dLocal’s filings with the U.S. Securities and Exchange Commission.
Unless required by law, dLocal undertakes no obligation to publicly
update or revise any forward-looking statements to reflect
circumstances or events after the date hereof.
Investor Relations Contact:
ir@dlocal.com
Media Contact:
marketing@dlocal.com
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