Corporate Governance

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Audit Committee

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Code of Business Conduct

and Ethics

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Board of Directors

Eduardo

Eduardo Azar

Chairman

Eduardo Azar

Chairman

Mr. 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.

Sebastian Kanovich

Sebastián Kanovich

Director

Sebastián Kanovich

Director

Mr. Sebastián Kanovich is our Co-Chief executive officer and a member of our board of directors. As a member of the founding management team, he has been leading the company since its inception, in January 2016. 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

Pedro Arnt

Director

Pedro Arnt

Director

Mr. 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, Mr. Arnt served in various capacities since joining Mercado Libre in December 1999. Prior to joining Mercado Libre, Mr. Arnt worked for The Boston Consulting Group. Mr. 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. Mr. Arnt is a British and Brazilian citizen and holds a bachelor’s degree, magna cum laude, from Haverford College and a master’s degree from the University of Oxford.

Diego Cabrera

Andrés Bzurovski

Director

Andrés Bzurovski

Director

Mr. 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.

Sebastian Kanovich

Sergio Fogel

Director

Sergio Fogel

Director

Mr. 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

Luiz Ribeiro

Director

Luiz Ribeiro

Director

Mr. 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.

Martin Escobari

Martín Escobari

Director

Martín Escobari

Director

Mr. 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

Mariam Toulan

Director

Mariam Toulan

Director

Ms. 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

Jacobo Singer

Director

Jacobo Singer

President & COO

Mr. Jacobo Singer is our President and COO, and a member of our board of directors, and leads a broad range of initiatives, oversees our operations, IT and business systems and is responsible for dLocal’s expansion efforts and compliance. He ensures that key business and banking relationships are in place as we grow our presence across Latin America, APAC, Middle East and Africa, and that we are operating in compliance with local rules and regulations. A key 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. Prior to dLocal, he led product and engineering teams at AstroPay where he gained deep technology and project management expertise. Mr. Singer holds a Bachelor’s of Science Degree in Information Technology from Universidad ORT Uruguay and he completed the Endeavor Innovation and Growth Program at Stanford Graduate School of Business.

Hyman K  Bielsky

Hyman K Bielsky

Director

Hyman K Bielsky

Director

Hyman 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.

Jitendra Gupta

Jitendra Gupta

Director

Jitendra Gupta

Director

Mr. Jitendra Gupta is an independent member of our board of directors and a member of our audit committee. Mr. Gupta is the founder of Jupiter.money, a pioneering digital banking experience in India dedicated to millennials which is backed by leading venture capital firms, such as Matrix Partners and Sequoia Capital. Mr. Gupta was also the founder and chief executive officer of Citrus Pay, a leading digital payments company in India. After the acquisition of Citrus Pay by Naspers, he became PayU’s Managing Director in India. At PayU, he created a consumer credit franchise and a “pay-later” category in the Indian market with the Lazypay brand. Prior to Citrus Pay, Mr. Gupta worked for ICICI bank for seven years in various roles in retail banking, investment banking, and payments strategy and was responsible for a joint venture initiative between ICICI and First Data in India in the merchant acquiring segment. He graduated from Sydenham College, Mumbai and is a qualified Chartered Accountant.

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
Jitendra Gupta I I I
Hyman K Bielsky I I I
Mariam Toulan I I I
Reference
  • 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 1 10 - -

Part II: Demographic Background
.
Underrepresented Individual in Home Country Jurisdiction 1
LGBTQ+ -
Did Not Disclose Demographic Background -

Executive Management

Sebastian Kanovich

Sebastián Kanovich

Co-Chief Executive Officer

Sebastián Kanovich

Co-Chief Executive Officer

Mr. Sebastián Kanovich is our Co-Chief executive officer and a member of our board of directors. As a member of the founding management team, he has been leading the company since its inception, in January 2016. 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.

Sergio Fogel

Sergio Fogel

Co-President & CSO

Sergio Fogel

Co-President & CSO

Sergio, co-founded dLocal in 2016 and was recently appointed Co-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.

Pedro Arnt

Pedro Arnt

Co-Chief Executive Officer

Pedro Arnt

Co-Chief Executive Officer

Mr. 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, Mr. Arnt served in various capacities since joining Mercado Libre in December 1999. Prior to joining Mercado Libre, Mr. Arnt worked for The Boston Consulting Group. Mr. 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. Mr. Arnt is a British and Brazilian citizen and holds a bachelor’s degree, magna cum laude, from Haverford College and a master’s degree from the University of Oxford.

Jacobo Singer

Jacobo Singer

Co-President & COO

Jacobo Singer

Co-President & COO

Mr. Jacobo Singer is our Co-President and COO, and a member of our board of directors, and leads a broad range of initiatives, oversees our operations, IT and business systems and is responsible for dLocal’s expansion efforts and compliance. He ensures that key business and banking relationships are in place as we grow our presence across Latin America, APAC, Middle East and Africa, and that we are operating in compliance with local rules and regulations. A key 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. Prior to dLocal, he led product and engineering teams at AstroPay where he gained deep technology and project management expertise. Mr. Singer holds a Bachelor’s of Science Degree in Information Technology from Universidad ORT Uruguay and he completed the Endeavor Innovation and Growth Program at Stanford Graduate School of Business.

Diego Cabrera

Diego Cabrera Canay

Chief Financial Officer

Diego Cabrera Canay

Chief Financial Officer

Mr.Diego Cabrera Canay, oversees and manages the company’s financial planning and analysis, treasury, accounting, financial reporting, taxes, administration, corporate development, investor relations, and auditing and compliance. Prior to joining dLocal, Cabrera Canay served as Finance Vice President at Mercado Libre in Buenos Aires. He holds a bachelor’s degree in business administration from Pontifical Catholic University of Argentina in Buenos Aires and an M.B.A. from the IAE Business School. He also attended the Executive Program on Strategy and Organization at Stanford Graduate School of Business.

John O’Brien

John O’Brien

Chief Revenue Officer

John O’Brien

Chief Revenue Officer

John 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

Alberto Almeida

Chief Technology Officer

Alberto Almeida

Chief Technology Officer

Alberto 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

Gabriela Vieira

General Counsel

Gabriela Vieira

General Counsel

Gabriela 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.

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