4. Consolidation of subsidiaries DLocal Limited is the Group parent and acts as a holding company for all subsidiaries whose main activity is cross-border and local payments, enabling international merchants to access end customers in emerging markets. Its principal sources of revenue include dividends from subsidiaries and profit sharing payments from subsidiary partnerships. The Consolidated Financial Statements of the Group include the following subsidiaries, each of which serves a different vertical or a provides a specific service according to the needs of the Group:
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% of equity interest held by Dlocal |
Entity name |
|
Country of incorporation |
|
Principal activities |
|
2023 |
|
2022 |
Dlocal Group Limited |
|
Malta |
|
Holding Company |
|
100% |
|
100% |
Dlocal Limited |
|
Malta |
|
Payments provider |
|
99.999% |
|
99.999% |
Dlocal Markets Limited |
|
Malta |
|
Holding Company |
|
100% |
|
100% |
Dlocal Hold Ops Limited |
|
Cayman Islands |
|
Holding Company |
|
100% |
(3) |
100% |
Dlocal LLP |
|
United Kingdom |
|
Payments provider |
|
99.999% |
|
99.990% |
Dlocal Corp LLP |
|
United Kingdom |
|
Payments provider |
|
99.99% |
|
99.99% |
Dlocal OpCo UK LTD |
|
United Kingdom |
|
Payments provider |
|
100% |
(3) |
100% |
Dlocal Inc. |
|
United States of America |
|
Holding Company |
|
- |
(4) |
100% |
Dlocal Technologies S.A. |
|
Uruguay |
|
Service provider |
|
100% |
|
100% |
Dlocal Uruguay S.A. |
|
Uruguay |
|
Collection entity |
|
100% |
|
100% |
Dlocal PTE Limited |
|
Singapore |
|
Holding Company |
|
100% |
|
100% |
Dlocal Argentina S.A. |
|
Argentina |
|
Collection entity |
|
100% |
|
100% |
Demerge Arg. S.A. |
|
Argentina |
|
Service provider |
|
100% |
|
100% |
Dlocal Services Arg S.A. |
|
Argentina |
|
Service provider |
|
100% |
|
100% |
Demerge Services Arg S.A. |
|
Argentina |
|
Service provider |
|
100% |
(3) |
100% |
DLocal Bangladesh Limited |
|
Bangladesh |
|
Collection entity |
|
100% |
|
100% |
Demerge Bolivia S.R.L. |
|
Bolivia |
|
Collection entity |
|
97% |
(3) |
100% |
Dlocal Brasil Holding Financeira |
|
Brazil |
|
Holding Company |
|
100% |
|
100% |
Dlocal Brasil Instituição de Pagamento S.A. |
|
Brazil |
|
Collection entity |
|
100% |
|
100% |
Demerge Brasil Facilitadora de Pagamentos Ltda. |
|
Brazil |
|
Collection entity |
|
100% |
|
100% |
Webpay Brasil Pagamentos Ltda. |
|
Brazil |
|
Collection entity |
|
100% |
(3) |
100% |
Demerge Cameroun SARL |
|
Cameroon |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Chile SPA |
|
Chile |
|
Collection entity |
|
100% |
|
100% |
Demerge Chile SPA |
|
Chile |
|
Collection entity |
|
100% |
|
100% |
Pagos y Servicios Limitada |
|
Chile |
|
Collection entity |
|
99% |
|
99% |
FCA Chile 2 Spa |
|
Chile |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Colombia S.A.S. |
|
Colombia |
|
Collection entity |
|
100% |
|
100% |
Demerge Colombia S.A.S. |
|
Colombia |
|
Collection entity |
|
100% |
|
100% |
Kupa Colombia S.A.S. |
|
Colombia |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Costa Rica SRL |
|
Costa Rica |
|
Collection entity |
|
100% |
(3) |
100% |
Demerege Ecuador S.A. (1) |
|
Ecuador |
|
Collection entity |
|
100% |
|
100% |
Dlocal Egypt LLC |
|
Egypt |
|
Collection entity |
|
100% |
|
100% |
Dlocal El Salvador S.A de C.V. |
|
El Salvador |
|
Collection entity |
|
99.95% |
(3) |
100% |
dLocal Ghana Limited Company |
|
Ghana |
|
Collection entity |
|
100% |
(3) |
100% |
Demerge Guatemala S.A. |
|
Guatemala |
|
Collection entity |
|
99.94% |
(3) |
100% |
Dlocal Honduras S.A. |
|
Honduras |
|
Collection entity |
|
100% |
(3) |
100% |
Depansum Solutions Private Limited |
|
India |
|
Collection entity |
|
99% |
|
99% |
Dlocal India Pvt Limited |
|
India |
|
Collection entity |
|
99.99% |
|
99.99% |
Guisol Solutions Private Limited |
|
India |
|
Collection entity |
|
100% |
(3) |
100% |
PT Dlocal Solutions Indonesia |
|
Indonesia |
|
Collection entity |
|
99% |
|
100% |
Dlocal Israel Limited |
|
Israel |
|
Service provider |
|
100% |
|
100% |
Dlocal SARL |
|
Ivory Coast |
|
Collection entity |
|
100% |
(3) |
100% |
Demerge Japan Ltd |
|
Japan |
|
Collection entity |
|
100% |
(3) |
66.6% |
Dlocal Payments Kenya Limited |
|
Kenya |
|
Collection entity |
|
90% |
(3) |
100% |
Depansum Malaysia SDN. BHD. |
|
Malaysia |
|
Collection entity |
|
95% |
(3) |
100.0% |
Demerge Mexico S.A. de C.V. |
|
Mexico |
|
Collection entity |
|
99.99% |
|
99.999% |
Dlocal Mexico S.A. DE C.V. |
|
Mexico |
|
Collection entity |
|
99.99% |
|
99.999% |
Dlocal Technologies Mexico S.A. DE C.V. |
|
Mexico |
|
Service provider |
|
99.99% |
|
100% |
DLocal Morocco SARL AU |
|
Morocco |
|
Collection entity |
|
100% |
|
100% |
Demerge Nigeria Limited |
|
Nigeria |
|
Collection entity |
|
100% |
|
100% |
Dlocal Panama S.A. |
|
Panama |
|
Collection entity |
|
100% |
|
100% |
Dlocal Paraguay S.A. |
|
Paraguay |
|
Collection entity |
|
100% |
|
100% |
Demerge Peru S.A.C. |
|
Peru |
|
Collection entity |
|
99% |
|
99% |
Depansum Perú S.A.C |
|
Peru |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Payments Philippines Incorporated |
|
Philippines |
|
Collection entity |
|
100% |
(3) |
100% |
Demerge República Dominicana SAS |
|
Dominican Republic |
|
Collection entity |
|
99.99% |
|
99.99% |
Dlocal Rwanda Ltd. |
|
Rwanda |
|
Collection entity |
|
100% |
(3) |
100% |
Depansum PTY Limited |
|
South Africa |
|
Collection entity |
|
100% |
|
100% |
DLP South Africa PTY Ltd. |
|
South Africa |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Tanzania LTD |
|
Tanzania |
|
Collection entity |
|
99% |
(3) |
100% |
Demerge (Thailand) Co. LTD (2) |
|
Thailand |
|
Collection entity |
|
49% |
(3) |
49% |
Dlocal Uganda LTD |
|
Uganda |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Payment Services L.L.C. |
|
United Arab Emirates |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal US LLC |
|
United States of America |
|
Service provider |
|
100% |
(3) |
100% |
Dlocal Holding Uruguay S.A. (Formerly CILFUR S.A.) |
|
Uruguay |
|
Service provider |
|
100% |
(3) |
100% |
DEMERGE URUGUAY S.A. (Formerly 'Maubek S.A.') |
|
Uruguay |
|
Service provider |
|
100% |
(3) |
100% |
DLOCAL SERVICES URUGUAY S.A. (Formerly 'Harpot S.A.') |
|
Uruguay |
|
Collection entity |
|
100% |
(3) |
100% |
Dlocal Vietnam Company Limited |
|
Vietnam |
|
Collection entity |
|
100% |
(3) |
100% |
Depansum Arg S.A. |
|
Argentina |
|
Collection entity |
|
99% |
(5) |
- |
Demerge España SL |
|
Spain |
|
Collection entity |
|
100% |
(5) |
- |
Demerge Senegal SAURL |
|
Senegal |
|
Collection entity |
|
100% |
(5) |
- |
PT Dlocal Services Gateway (Indonesia) |
|
Indonesia |
|
Collection entity |
|
85% |
(5) |
- |
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PT Dlocal Payment Solutions (Indonesia) |
|
Indonesia |
|
Collection entity |
|
85% |
(5) |
- |
Depansum Limited (Kenya) |
|
Kenya |
|
Collection entity |
|
99% |
(5) |
- |
Dlocal Developments Arg S.A. |
|
Argentina |
|
Collection entity |
|
95% |
(5) |
- |
Dlocal Payments Private Limited (India) |
|
India |
|
Collection entity |
|
99% |
(5) |
- |
Dlocal Nigeria Limited |
|
Nigeria |
|
Collection entity |
|
99.99% |
(5) |
- |
Kupa IMTO Nigeria Limited |
|
Nigeria |
|
Collection entity |
|
99.99% |
(5) |
- |
Delocal Al-Arabia Co. (Saudi Arabia) |
|
Saudi Arabia |
|
Collection entity |
|
100% |
(5) |
- |
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(1) |
Although dLocal was the owner of 0.15% of Demerege Ecuador S.A., the Group controls its operations according to the guidelines in IFRS 10. On July 1, 2022, dLocal acquired the remaining 99.85% of the subsidiary. |
(2) |
Although dLocal is the owner of 49% of Demerge (Thailand) Co. LTD, the Group controls its operations and has de facto control according to the guidelines in IFRS 10. |
(3) |
The Group has determined that the acquisition or incorporation of these subsidiaries during 2022 does not constitute a business according to IFRS 3. A business is defined in IFRS 3 as “an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income (such as dividends or interest) or generating other income from ordinary activities”. |
(4) |
DLocal Inc. was liquidated on July, 2023. |
(5) |
New subsidiaries incorporated during 2023. |
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