Corporate Governance
Audit Committee
Charter
Code of Business Conduct
and Ethics
Whistleblowing
Channel
Board of Directors
Eduardo Azar
ChairmanEduardo Azar
ChairmanMr. Alberto Eduardo Azar is the chairman of our board of directors. Prior to serving on our board of directors, Mr. Azar was also an investor and board member of Data Electronics in Dublin, Ireland, the top data center operator in Ireland. Data Electronics was sold in August 2011 to Telecity City. After the sale of Data Electronics, Mr. Azar started Azar Capital Partners, a family office. Since 2016, his main focus has been on managing investment opportunities in the technology sector.
Sebastián Kanovich
DirectorSebastián Kanovich
DirectorMr. Sebastián Kanovich is a member of our board of directors, chairman of the Commercial, Business Development & M&A Committee. As a member of the founding management team, he has been leading the company since its inception, from January 2016 to March 2024. Prior to dLocal, he was the CEO of AstroPay. Mr. Kanovich holds a Bachelor degree in Economics from Universidad ORT Uruguay. He also studied Entrepreneurship, Innovation and Management of Technology at Tel Aviv University, and completed the Endeavor Innovation and Growth Program at Stanford Graduate School of Business.
Pedro Arnt
DirectorPedro Arnt
DirectorPedro Arnt has over 25 years of working experience in strategy, operations and finance. Before joining dLocal, Mr. Arnt served as Chief Financial Officer, Executive Vice President of Mercado Libre for more than twelve years. Prior to his appointment as Chief Financial Officer, Pedro served in various capacities since joining Mercado Libre in December 1999. Prior to joining Mercado Libre, Pedro Arnt worked for The Boston Consulting Group. Pedro Arnt also serves on the Board of Directors of Allegro.eu, a leading publicly traded European marketplace and payments company, and as an Executive Advisor to Riverwood Capital. He has received numerous accolades as a top TMT public company CFO in Latin America. Pedro Arnt holds a bachelor’s degree, magna cum laude, from Haverford College and a master’s degree from the University of Oxford.
Andrés Bzurovski
DirectorAndrés Bzurovski
DirectorMr. Andres Bzurovski Bay is a member of our board of directors and a serial entrepreneur and angel investor focusing on online businesses in Latin America. After co-founding Astropay, a card payment solution for online consumers and companies in Asia, Africa and Latin America, Andres teamed up with Sergio Fogel again in 2016 to co-found dLocal. Andres serves as a board member in multiple companies such as Paganza and HomeDine and is a distinguished Endeavour entrepreneur. Mr. Andres holds a Technology degree from the University of Northampton, United Kingdom and a Marketing Degree from the ORT University Uruguay.
Sergio Fogel
DirectorSergio Fogel
DirectorMr. Sergio Enrique Fogel Kaplan is a member of our board of directors and an active angel investor, and has invested in over 15 technology startups. He participates on the board of directors of several companies, including TiendaMIA, The Chemist Look and Apptim. Mr. Fogel serves as Vice-President of Endeavor Uruguay, and sits on the board of Helpers, an NGO that aims to save lives through technology-enabled, rapid response by first aid volunteers. He co-founded dLocal together with Andres Bzurovski in 2016, after having founded several other companies, such as ElAgora.com (a B2B marketplace), Uniotel (VoIP), and Astropay (a payments processor). Mr. Fogel holds an MBA from INSEAD, France, a Bachelor of Arts in Computer Science with a Summa Cum Laude, and a Master of Science in Computer Science from Technion, Israel Institute of Technology, Israel.
Luiz Ribeiro
DirectorLuiz Ribeiro
DirectorMr. Luiz Ribeiro is a member of our board of directors and principal at General Atlantic, focusing on their investments in South America. Before joining General Atlantic in 2016, Mr. Ribeiro worked as a Director at Advent International, where he concentrated on the financial services and healthcare sectors while based in the São Paulo and Bogota offices. During his time at Advent International, he served on the boards of a number of investments, and served as CFO of Atmosfera Gestão e Higienização de Texteis Ltda. Mr. Ribeiro currently sits on the boards of Neon and QuintoAndar, is an alternate director of Pague Menos, and is a board observer of Gympass. Mr. Ribeiro received a Bachelor of Arts in Business Administration from Fundação Getulio Vargas (EAESP-FGV) and completed the Program for Leadership Development at Harvard Business School.
Martín Escobari
DirectorMartín Escobari
DirectorMr. Martín Escobari is a member of our board directors and Co-President, Managing Director and Head of General Atlantic’s business in Latin America. Mr. Escobari is also chairman of General Atlantic’s Investment Committee and serves on the firm’s Management and Portfolio Committees. Mr. Escobari serves or has served on the boards of numerous public and private companies, and currently serves on the boards of Arco, Grupo Axo, Pague Menos, Sanfer and XP Investimentos. Before joining General Atlantic in 2012, Mr. Escobari was a Managing Director at Advent International, where he focused on the financial services sector. Prior to that, he was Co-Founder and CFO of Submarino.com, a leading Brazilian online retailer that went public on the Bovespa and was sold to Lojas Americanas in 2006. Mr. Escobari started his career as a management consultant at The Boston Consulting Group. Mr. Escobari received a BA in Economics from Harvard College and an MBA from Harvard Business School.
Mariam Toulan
DirectorMariam Toulan
DirectorMs. Toulan is an Independent Adviser and former Senior Investment Banker with over 30 years financial leadership experience across Europe, Middle East, Africa, North and South America. She has an expertise in identifying, evaluating, and mitigating risk, as well as developing new business opportunities. After her retirement from investment banking, she has acted as a Senior Adviser to a range of mid-size and large-cap companies. Prior to that, she served as MD and Head of EMEA Loan Syndicate at Bank of America Merrill Lynch, where she was a senior risk taker and sat on the EMEA Finance Committees. Before joining Bank of America in 2008, she spent 10 years as a leader in JPMorgan’s EMEA leveraged finance business in London. She has experience in a broad range of emerging markets having also led Baring Private Equity Partners capital raising efforts for EM Funds and having spent several years with the International Finance Corporation where she was responsible for global distribution of EM primary bond and equity issues. She began her career at Chemical Bank in NY. Ms. Toulan has an MBA from INSEAD in France and a BSc from Georgetown University’s School of Foreign Service in Washington, DC.
Jacobo Singer
DirectorJacobo Singer
Board memberJacobo is a board of directors member. As a member of the founding management team, he has been leading a broad range of initiatives - overseeing our operations, IT, and business systems, and was responsible for dLocal’s expansion efforts and compliance, from January 2016 to December 2024.
A vital member of the founding management team, he was previously dLocal’s Chief Technology Officer and has designed and built our payments platform from the ground up. Before dLocal, he led product and engineering teams at AstroPay. Jacobo holds a Bachelor of Science Degree in Information Technology from Universidad ORT Uruguay and completed the Endeavor Innovation and Growth Program at Stanford Graduate School of Business.
Hyman K Bielsky
DirectorHyman K Bielsky
DirectorHyman K Bielsky is an independent member of our board of directors and a member of our audit committee. Having held legal and operating leadership roles in both private and publicly listed companies Mr Bielsky brings extensive experience to the Board. Mr. Bielsky holds his Law Degree from the University of North Carolina, where he graduated “with Honors". Mr Bielsky commenced his career with a major US law firm. After seven years of private practice, Mr Bielsky joined Safety Kleen Corp, a Fortune 500, NYSE listed company, where he rose to become its General Counsel responsible for worldwide legal affairs. He ultimately became CEO and then Chairman of Safety-Kleen Europe, Ltd, after it was spun out of Safety-Kleen Corp. Over his twenty-one-year career at Saftey-Kleen Corp and Safety-Kleen Europe, Ltd, Mr Bielsky honed his legal and operating skills in his multiple leadership roles.
Verónica Raffo
DirectorVerónica Raffo
DirectorMs. Verónica Raffo is a partner in FERRERE and participates actively in its management and strategic leadership. She has more than 25 years of experience advising a stellar list of global clients, managing highly complex cases with sensitive content with focus on corporate issues, dispute negotiation, compliance audits and corporate governance. Ms. Raffo is also a reference in entrepreneurship and gender issues, both in Uruguay and internationally. She is the incoming gold Regional Chair Latin America of YPO (Young Presidents Organization) and she was one of the founders and the President of the Uruguayan Women Entrepreneurs Organization, OMEU. Each year since 2019 she has been recognized as Uruguay’s most highly reputed woman business leader, according to the Corporate Reputation Business Monitor (MERCO). She is an instructor in Board Management at the Graduate School of Business - EPN of Universidad ORT Uruguay. She holds a degree as attorney (Universidad de la República, Uruguay) and a diploma in American and International Law from The Center for American and International Law (United States).
Committee Composition
| Director | Independent Director | Audit Committee | Board of Directors |
|---|---|---|---|
| Alberto Eduardo Azar | C | ||
| Sebastián Kanovich | M | ||
| Pedro Arnt | M | ||
| Andrés Bzurovsky | M | ||
| Sergio Enrique Fogel Kaplan | M | ||
| Luis O. Ribeiro | M | ||
| Martín Escobari | M | ||
| Jacobo Singer | M | ||
| Verónica Raffo | I | I | I |
| Hyman K Bielsky | I | I | I |
| Mariam Toulan | I | I | I |
- i:Independent Director
- c:Chairperson
- m:Member
Board Diversity Matrix
Board Diversity Matrix (As of December, 2023) . |
||
|---|---|---|
| Country of Principal Executive Offices | Uruguay | |
| Foreign Private Issuer | Yes | |
| Disclosure Prohibited under Home Country Law | No | |
| Total Number of Directors | 11 | |
| Part I: Gender Identity | Female | Male | Non-Binary | Did Not Disclose Gender | |
|---|---|---|---|---|---|
| Directors | 2 | 9 | - | - | |
Part II: Demographic Background . |
|||||
|---|---|---|---|---|---|
| Underrepresented Individual in Home Country Jurisdiction | 1 | ||||
| LGBTQ+ | - | ||||
| Did Not Disclose Demographic Background | - | ||||
Executive Management
Pedro Arnt
Chief Executive OfficerPedro Arnt
Chief Executive OfficerPedro Arnt has over 25 years of working experience in strategy, operations and finance. Before joining dLocal, Mr. Arnt served as Chief Financial Officer, Executive Vice President of Mercado Libre for more than twelve years. Prior to his appointment as Chief Financial Officer, Pedro served in various capacities since joining Mercado Libre in December 1999. Prior to joining Mercado Libre, Pedro Arnt worked for The Boston Consulting Group. Pedro Arnt also serves on the Board of Directors of Allegro.eu, a leading publicly traded European marketplace and payments company, and as an Executive Advisor to Riverwood Capital. He has received numerous accolades as a top TMT public company CFO in Latin America. Pedro Arnt holds a bachelor’s degree, magna cum laude, from Haverford College and a master’s degree from the University of Oxford.
Sergio Fogel
President & CSOSergio Fogel
President & CSOSergio Fogel, co-founded dLocal in 2016 and since 2013 Sergio has an executive position as President and Chief Strategy Officer. Additionally, Sergio is a member of our board of directors, an active angel investor and has invested in over 15 technology startups. Sergio serves as Vice-President of Endeavor Uruguay, and sits on the board of Impulso, a school serving underprivileged children in Montevideo, and REDALCO, an NGO that aims to reduce food insecurity in a sustainable way. Sergio is a serial entrepreneur having founded several other companies, such as ElAgora.com (a B2B marketplace), Uniotel (VoIP), and Astropay (a payments processor).
Sergio holds an MBA from INSEAD, France, a Bachelor of Arts in Computer Science with a Summa Cum Laude, and a Master of Science in Computer Science from Technion, Israel Institute of Technology, Israel.
Carlos Menendez
Chief Operating OfficerCarlos Menendez
Chief Operating OfficerCarlos Menendez is a seasoned general manager with extensive global experience in creating and scaling businesses, known for his ability to construct successful business models with operational rigor.
He served as the President of the Global Commercialization Office at Mastercard, where he led the scaling and management of new global P&Ls, key initiatives, and drove growth across existing and emerging segments. During his 14 years at Mastercard, Carlos held various leadership roles, including Group Executive for Global Credit, Debit & Network Products, where he was responsible for building the company’s consumer products globally and deploying solutions at the local market level for billions of cardholders.
Before joining Mastercard, Carlos spent 14 years at Citi, where he held several senior roles, including COO of Western Europe Retail Banking, EMEA Bankcards Regional Director and CFO of Citibank USA. Carlos holds a BA in Economics from Harvard University, an MBA in Finance from The Wharton School, and an MA in International Studies from the Lauder Institute at the University of Pennsylvania.
Mark Ortiz
Chief Financial OfficerMark Ortiz
Chief Financial OfficerMark Ortiz joined dLocal as the CFO in April 2024. Mark brings over 30 years of extensive international financial and operational management experience primarily within General Electric (GE)’s umbrella companies. While at GE, Mark held senior positions in various financial areas, culminating in roles as Global FP&A Leader for GE Capital, CFO for the Industrial Finance & Energy Financial Services businesses, and Global Controller for GE Capital’s Real Estate and Equipment Leasing and Lending platforms. During his professional career he lived and worked in over 20 markets. Mark is currently an independent non-executive Director and Chairman of the Board Audit Committee for Upgrade, Inc., a fintech company that offers innovative, affordable and responsible credit to mainstream consumers.
Mark holds bachelor’s degrees in finance and economics from Virginia Polytechnic Institute and State University.
John O’Brien
Chief Revenue OfficerJohn O’Brien
Chief Revenue OfficerJohn O'Brien is Chief Revenue Officer and is responsible for the management and growth of dLocal's revenue which includes sales, account management, customer success, technical account management, revenue operations, and marketing. Before dLocal, John worked in Worldpay's enterprise e-commerce division for 14 years, where he had a variety of leadership roles across commercial and operational functions before joining the executive team in 2018.
John completed a MA in International Management and Payment Ecosystems from Middlesex University in 2019.
Alberto Almeida
Chief Technology OfficerAlberto Almeida
Chief Technology OfficerAlberto Almeida is our Chief Technology Officer, bringing extensive technical experience to help dLocal expand its platform globally. Alberto previously worked with DLocal from December 2016 to September 2019, starting as a software engineer before rising to head of software development and then serving as the Company’s Chief Technology Officer. He served as Engineering Manager of Zalando SE in Germany from December 2019 to May 2022 before rejoining DLocal in June 2022.
Gabriela Vieira
General CounselGabriela Vieira
General CounselGabriela Vieira is dLocal's General Counsel and leads Legal, Regulatory Affairs and Compliance Departments. Gabriela joined dLocal in 2021 and brings over 10 years of experience in Fintech Payments. Previously, Gabriela was the Global Director of Legal and Compliance at PrimeiroPay. Gabriela holds a Master Degree and a PhD in International Law from the University of São Paulo.
Maria Oldham
SVP of Corporate Development, Strategic Finance and IRMaria Oldham
SVP of Corporate Development, Strategic Finance and IRMaria Oldham is responsible for Corporate Development, Financial Planning & Analysis, Corporate Treasury and Investor Relations. Prior to joining dLocal, Maria held various executive roles in the fintech space, including General Manager at PayPal Latam and as CEO of iZettle Brazil. This experience was preceded by over 10 years working in investment banking at Goldman Sachs in London, as well as at leading Brazilian investment advisors.
Maria holds an MBA from London Business School and a Bachelor’s degree in Business Administration from FGV São Paulo.