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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Entity Central Index Key	0001846832
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	DLocal Limited
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding	296,164,816
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity File Number	001-40451
Entity Incorporation, State or Country Code	E9
Entity Address Address Line1	Dr. Luis Bonavita 1294
Entity Address City Or Town	Montevideo
Entity Address Country	UY
Entity Address Postal Zip Code	11300
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
Document Accounting Standard	International Financial Reporting Standards
ICFR Auditor Attestation Flag	true
Title of 12(b) Security	Class A common shares, par value US$0.002 per share
Trading Symbol	DLO
Security Exchange Name	NASDAQ
Auditor Firm ID	1349
Auditor Name	Price Waterhouse & Co. S.R.L.
Auditor Location	Autonomous City of Buenos Aires, Argentina
Business Contact
Document Information [Line Items]
Entity Address Address Line1	Dr. Luis Bonavita 1294
Entity Address City Or Town	Montevideo
Entity Address Country	UY
Entity Address Postal Zip Code	11300
Contact Personnel Name	Diego Cabrera Canay
City Area Code	424
Local Phone Number	392-7437

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit or loss [abstract]
Revenues	$ 418,925	$ 244,120	$ 104,143
Cost of services	(216,758)	(113,677)	(44,065)
Gross profit	202,167	130,443	60,078
Technology and development expenses	(6,348)	(3,386)	(2,005)
Sales and marketing expenses	(13,335)	(5,916)	(2,852)
General and administrative expenses	(48,343)	(40,637)	(22,188)
Impairment (loss)/gain on financial assets	(5,534)	(33)	808
Other operating (loss)/gain	(697)	3,367	(2,896)
Operating profit	127,910	83,838	30,945
Finance income	18,078	2,540	502
Finance costs	(24,668)	(544)	(67)
Inflation adjustment	(1,037)	(334)	38
Other results	(7,627)	1,662	473
Profit before income tax	120,283	85,500	31,418
Income tax expense	(11,586)	(7,647)	(3,231)
Profit for the year	108,697	77,853	28,187
Profit attributable to:
Owners of the Group	108,683	77,876	28,184
Non-controlling interest	14	(23)	3
Profit for the year	$ 108,697	$ 77,853	$ 28,187
Earnings per share (in USD)
Basic Earnings per share	$ 0.37	$ 0.27	$ 0.10
Diluted Earnings per share	$ 0.35	$ 0.25	$ 0.10
Items that are or may be reclassified subsequently to profit or loss:
Exchange difference on translation on foreign operations	$ 20	$ 102	$ 37
Other comprehensive income for the year, net of tax	20	102	37
Total comprehensive income for the year	108,717	77,955	28,224
Total comprehensive income for the year is attributable to:
Owners of the Group	108,708	77,969	28,231
Non-controlling interest	9	(14)	(7)
Total comprehensive income for the year	$ 108,717	$ 77,955	$ 28,224

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 468,092	$ 336,197
Financial assets at fair value through profit or loss	1,295	1,004
Trade and other receivables	240,446	190,966
Derivative financial instruments	1,206
Other assets	56,789	1,339
Total Current Assets	767,828	529,506
Non-Current Assets
Deferred tax assets	362	133
Property, plant and equipment	2,734	2,485
Right-of-use assets	3,934	3,915
Intangible assets	51,443	46,969
Total Non-Current Assets	58,473	53,502
TOTAL ASSETS	826,301	583,008
Current Liabilities
Trade and other payables	407,874	277,160
Borrowings		5,014
Lease liabilities	686	502
Tax liabilities	11,695	13,126
Derivative financial instruments	544	221
Provisions	1,473	1,710
Contingent consideration liability		665
Total Current Liabilities	422,272	298,398
Non-Current Liabilities
Deferred tax liabilities	1,016	883
Lease liabilities	3,393	3,426
Total Non-Current Liabilities	4,409	4,309
TOTAL LIABILITIES	426,681	302,707
EQUITY
Share Capital	592	590
Share Premium	164,307	157,151
Capital Reserve	16,185	12,741
Other reserves	(1,448)	(30)
Retained earnings	219,993	109,867
Total Equity Attributable to owners of the Group	399,629	280,319
Non-controlling interest	(9)	(18)
TOTAL EQUITY	399,620	280,301
TOTAL EQUITY AND LIABILITIES	$ 826,301	$ 583,008

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Member Contributed Capital	Share Capital	Share Premium	Capital Reserve	Other Reserves	Retained Earnings	Total	Non-controlling Interest
Balance at Dec. 31, 2019	$ 24,529	$ 602			$ 5,287	$ 14	$ 18,460	$ 24,363	$ 166
Adjustments due to reorganizations at Dec. 31, 2019		$ (602)	$ 602
Adjusted balance at Dec. 31, 2019	24,529		602		5,287	14	18,460	24,363	166
Comprehensive Income for the period
Profit of the year	28,187						28,184	28,184	3
Exchange difference on translation on foreign operations	37					105	(58)	47	(10)
Total comprehensive income for the year	28,224					105	28,126	28,231	(7)
Transactions with Group owners in their capacity as owners
Share-based payments	7,295				7,295			7,295
Distribution of retained earnings	(15,000)						(15,000)	(15,000)
Transaction between shareholders	163						163	163	(163)
Transactions with Group owners in their capacity as owners	(7,705)				7,295		(14,837)	(7,542)	(163)
Balance at Dec. 31, 2020	45,048		602		12,582	119	31,749	45,052	(4)
Comprehensive Income for the period
Profit of the year	77,853						77,876	77,876	(23)
Exchange difference on translation on foreign operations	102					(149)	242	93	9
Total comprehensive income for the year	77,955					(149)	78,118	77,969	(14)
Transactions with Group owners in their capacity as owners
Initial public offering, net of underwriting discount and incremental and direct costs	86,450		9	$ 86,441				86,450
Issue of ordinary shares	63,177		45	63,132				63,177
Par value change from 1.1211 U.S. Dollars to 1 U.S. Dollars			(70)	70
Share-options exercise	81			6,979	(6,898)			81
Forfeitures	(6)				(6)			(6)
Warrant exercise			4	529	(533)			0
Share-based payments	7,596				7,596			7,596
Transactions with Group owners in their capacity as owners	157,298		(12)	157,151	159			157,298
Balance at Dec. 31, 2021	280,301		590	157,151	12,741	(30)	109,867	280,319	(18)
Comprehensive Income for the period
Profit of the year	108,697						108,683	108,683	14
Exchange difference on translation on foreign operations	20					(1,418)	1,443	25	(5)
Total comprehensive income for the year	108,717					(1,418)	110,126	108,708	9
Transactions with Group owners in their capacity as owners
Share-options exercise	3,939		2	9,177	(5,240)			3,939
Forfeitures	(896)				(896)			(896)
Share-based payments	9,580				9,580			9,580
Repurchase of shares	(2,021)			(2,021)				(2,021)
Transactions with Group owners in their capacity as owners	10,602		2	7,156	3,444			10,602
Balance at Dec. 31, 2022	$ 399,620		$ 592	$ 164,307	$ 16,185	$ (1,448)	$ 219,993	$ 399,629	$ (9)

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Apr. 14, 2021
Par value change per share	$ 1.1211		$ 1.1211
Bottom of Range
Par value change per share		$ 1.1211
Top of Range
Par value change per share		$ 1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Profit before income tax	$ 120,283	$ 85,500	$ 31,418
Adjustments:
Interest income from financial instruments	(18,114)	(2,556)	(443)
Interest charges for lease liabilities	177	142	20
Other finance expense / (income)	3,851	402	(3)
Finance expense related to derivative financial instruments	17,074
Amortization of Intangible assets	6,891	3,917	656
Depreciation of Property, plant and equipment	738	377	155
Amortization of Right-of-use asset	518	453	181
Revenue reduction related to prepaid assets	567	200	67
Share-based payment expense, net of forfeitures	8,684	7,590	7,295
Net exchange differences	1,877	(19)	(99)
Fair value loss/(gain) on financial assets at fair value through profit or loss	36	16	(9)
Other operating (gain)/loss		(2,896)	2,896
Net Impairment loss/(gain) on financial assets	(42)	33	(808)
Adjustment for reconcile profit (loss) including profit (loss)	142,540	93,159	41,326
Changes in working capital
Increase in Trade and other receivables	(49,438)	(115,355)	(45,932)
(Increase) / decrease in Other assets	(56,015)	581	(1,114)
Increase in Trade and other payables	130,714	134,295	89,888
(Decrease) / Increase in Tax Liabilities	(4,245)	5,309	5,877
(Decrease) / Increase in Provisions	(237)	317	595
Cash from operating activities	163,319	118,306	90,640
Income tax paid	(8,868)	(9,820)	(2,154)
Net cash from operating activities	154,451	108,486	88,486
Cash flows from investing activities
Acquisitions of Property, plant and equipment	(987)	(1,949)	(876)
Additions of Intangible assets	(11,365)	(46,068)	(3,006)
Net (acquisitions)/collections of financial assets at FVPL	(327)	7,520	7,089
Interest collected from financial instruments	17,649	2,556	443
Contingent Consideration Liability Paid	(665)
Net cash provided by / (used in) investing activities	4,305	(37,941)	3,650
Cash flows from financing activities
Proceeds from issuance of shares		63,177
Proceeds from initial public offering		87,088
Repurchase of shares	(2,021)
Initial public offering expenses paid		(638)
Share-options exercise paid	3,939	81
Dividends paid			(15,000)
Proceeds from borrowings	14,782	5,000
Repayments of borrowings	(19,967)
Interest payments on borrowings	(1,600)
Interest payments on lease liability	(177)	(142)	(20)
Principal payments on lease liability	(386)	(430)	(131)
Finance expense paid related to derivative financial instruments	(19,646)
Other finance expense paid	(2,251)	(388)	(47)
Net cash (used in) / provided by financing activities	(27,327)	153,748	(15,198)
Net increase in cash flow	131,429	224,293	76,938
Cash and cash equivalents at the beginning of the year	336,197	111,733	34,765
Effects of exchange rate changes on cash and cash equivalents	466	171	30
Cash and cash equivalents at the end of the year	$ 468,092	$ 336,197	$ 111,733

General Information and Reorganization

12 Months Ended

Dec. 31, 2022

General Information And Reorganization [Line Items]

General Information and Reorganization

General information, Reorganization and Significant Events of the year

1.1 General information

DLocal Limited (“dLocal” or the “Company”) is a holding company, referred to together with its subsidiaries as the “Group”. dLocal is a limited liability company. The Group was established on October 5, 2016, under the holding company dLocal Group Limited, domiciled and incorporated in Malta, and on April 14, 2021 it was reorganized under dLocal, domiciled and incorporated in the Cayman Islands. The Company is the ultimate controlling party of the Group.

The Group processes payment transactions, enabling merchants located in developed economies (mainly United States, Europe and China) to get paid (“payins”) from customers in emerging markets and to make payments (“payouts”) to customers in emerging markets. As of the date of issuance of these Consolidated Financial Statements, the Group continued to focus on its expansion efforts bringing the total number of countries in the geographic network to 40.

In order to conduct its business, the Group has direct connections with banks, acquirers and payments processors to process payments locally in emerging markets. It also operates with financial institutions to expatriate/repatriate the funds to/from the developed economies where the merchant customers elect to settle their funds in the currency of their preference (mainly U.S. Dollar and Euro). These consolidated financial statements include dLocal’s subsidiaries and details of the structure are included under Note 4: Consolidation of subsidiaries.

The Group is licensed and regulated in the EU as an Electronic Money Issuer, or EMI, and Payment Institution, or PI, and registered as a Money Service Business with the Financial Crimes Enforcement Network of the U.S. Department of the Treasury, or FinCEN, and operates and may be licensed, as applicable, in 40 countries in emerging markets, primarily in the Americas, Asia and Africa.

In addition, the Group is subject to laws aimed at preventing money laundering, corruption and the financing of terrorism. This regulatory landscape is constantly changing, including as a consequence of the implementation of the Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843, “MLD5”) and the proposed amendments to the MLD4, often referred to as the fourth Anti-Money Laundering Directive.

As part of the requirements for maintaining its financial institution license, the Maltese subsidiary dLocal Limited is subject to externally imposed capital requirements by the regulator in Malta, which initially amounted to Euros 400 thousands (USD 453). As of December 31, 2022, such capital requirements were fulfilled. As of 31 December 2021 the subsidiary calculated its capital requirement at the level of Euros 530 (USD 600). As of December 31, 2021, Tier 1 Capital was temporarily short in respect of its regulatory capital requirement with an amount of USD 37,666. Such position was rectified upon the signing of the subsidiary's financial statements, due to the fact that profits registered during the year ended December 31, 2021, were verified as a result of the external audit of the financial statements of the subsidiary, and Tier 1 Capital post verification was considered to be that of USD 4,621, which is in excess of the externally imposed minimum capital requirement of Euros 530 thousands (USD 600).

1.2 Reorganization

On April 14, 2021, in a series of transactions as further described below, the owners of dLocal Group Limited completed the contribution of 100% of their respective interests in dLocal Group Limited, with par value 1.1211 U.S. Dollars per share, on a pro rata basis to a newly formed entity, dLocal, in exchange for 100% of the common shares of dLocal, with par value 1 U.S. Dollars per share with no additional consideration, defined as the “Reorganization”. The purpose of the Reorganization was to facilitate the initial public offering of the Group. dLocal had no prior assets, holdings or operations.

In connection with the Reorganization, the Group amended its existing employee share incentive plan, the “2020 Global Share Incentive Plan”. In this context, all obligations of dLocal Group Limited under this plan (including award agreements issued thereunder) have been transferred to dLocal, and options to purchase ordinary shares of dLocal Group Limited have been converted into options to purchase ordinary shares of dLocal. The conversion was based on a ratio intended to maintain in all material respects the same, and in no event greater, economic benefit to optionees as provided under the plans in effect prior to the Reorganization.

Additionally, the written resolution of dLocal’s shareholders dated May 19, 2021 and effective June 2, 2021, approved a 500-for-1 stock split of dLocal’s common shares, whereby every share of capital stock of dLocal was converted into 500 shares, changing the par value of dLocal’s common shares from 1 U.S. Dollars to 0.002 U.S. Dollars. Therefore, dLocal increased total shares outstanding

from 577,008 shares to 288,504,000 shares. Consequently the 2020 Global Share Incentive Plan was also amended to reflect such change in the par value of the common shares. References made to outstanding shares and per share amounts in the accompanying financial statements and applicable disclosures have been retroactively adjusted to reflect this stock split.

The Reorganization was limited to entities which were all under the control of the same shareholder group and was implemented to facilitate the IPO, it did not qualify as a business combination under common control; rather, it was a Reorganization of the capital of dLocal Group Limited, the existing organization. Therefore, all financial and other information herein relating to December 2020 are presented using the historical values from the consolidated financial statements of dLocal Group Limited. However, the issued share capital reflects that of Dlocal as of the Reorganization date.

1.3 Significant events during the year

Filing of Form 20-F

On May 2, 2022, the Group filed its annual report on Form 20-F as of December 31, 2021, and 2020 and for the years ended December 31, 2021, 2020, and 2019.

Collateralized Credit Facility

On March 3, 2022, the subsidiary DLocal Group Limited (the “Borrower”) entered into a Credit Agreement (the “Agreement”) with Bank J. Safra Sarasin (Gibraltar) Ltd, acting through its London Branch (the “Bank”), pursuant to which the Bank grants a facility to the Borrower of a maximum amount of a total of USD 4,000 (the “Credit Facility”). The Borrower may utilize the Credit Facility for options and futures transactions as well as structured products subject to margin requirements. As of December 31, 2022, DLocal has not withdrawn any borrowing from the Credit Facility.

Change in Management

On August 10, 2022, Alberto Almeida was appointed as the new Chief Technology Officer of the Company, effective immediately, following the decision of Hernan Di Chello to step down from that position to pursue an outside opportunity.

On October 27, 2022, Sumita Pandit stepped down as dLocal's Chief Operating Officer to pursue other opportunities. Ms. Pandit served as a consultant for dLocal on an interim basis, ensuring a smooth transition and supporting the company as her responsibilities effectively transitioned to other team members. Jacobo Singer has been appointed as the new President and Chief Operating Officer of the Company, effective immediately.

In June 2022 and February 2023, Gabriela Vieira and John O’Brien were appointed as the new General Counsel and Chief Revenue Officers of the Company, respectively.

Annual General Meeting

On October 26, 2022, the shareholders of the Company held the Annual General Meeting and approved the following resolutions: (1) approved, as an ordinary resolution, the election of Ms. Mariam Toulan as director of the Company, following her appointment as interim director by the board of directors of the Company on June 2, 2022; and (2) to resolve, as an ordinary resolution, the approval and ratification of the Company’s financial statements and the auditor’s report for the fiscal year ended December 31, 2021.

The Company Refutes Short-Seller Report and Announces Share Buyback Program and Proposed Share Purchases by Key Shareholders

On November 16, 2022, the ultimate parent entity of the group, DLocal Limited, issued a public statement with regard to a short seller report published that same day, stating that the report contained numerous inaccurate statements, groundless claims and speculation, that short seller reports are often designed to drive the stock price downwards to serve the short seller’s interests to the detriment of the company’s shareholders, and that the ultimate parent entity would rebut the allegations in the appropriate forum in due course.

On December 20, 2022, DLocal Limited announced that following a review of the short seller report that was performed at the Board of Directors’ request, with the assistance of professional advisors, including a global investigations and advisory services firm, and an additional review that was ongoing at that time and overseen by the Audit Committee, with the assistance of an independent counsel and an independent global expert services and forensic accounting firm, that the short seller report demonstrated a fundamental lack of understanding of the Company’s financial statements and business. Based on those two separate reviews, the Company’s

announcement addressed certain allegations in the short seller report. The review overseen by the Audit Committee is now complete and concluded that those allegations were not substantiated.

On the same date, the Company also announced that on December 19, 2022, its Board of Directors approved a share buyback plan to purchase up to US$ 100 million of the Company's outstanding Class A common shares. The share buyback plan will expire on the earlier of July 2023, or when the US$100 million buyback limit is reached.

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies

Presentation and preparation of the Consolidated Financial Statements and significant accounting policies

2.1. Basis of preparation of the Consolidated Financial Statements

These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and interpretations issued by the IFRS Interpretations Committee (IFRS I C) applicable to companies reporting under IFRS. These Consolidated Financial Statements comply with IFRS as issued by the International Accounting Standards Board (“IASB”). The Consolidated Financial Statements are presented in thousands of U.S. Dollars, except for share data or as otherwise indicated, which is the functional currency of dLocal Limited.

The Consolidated Financial Statements have been prepared on a historical cost basis, except for certain financial assets measured at fair value as explained in Note 2.5: Financial instruments-initial recognition and measurement, and for the Financial Statements of Argentine operations that were adjusted upon IAS 29 requirements as detailed in Note 2.3 Foreign currencies.

The preparation of these Consolidated Financial Statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying dLocal’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the Consolidated Financial Statements, are disclosed in Note 3: Accounting estimates and judgments.

As mentioned in Note 1.2, a written resolution of dLocal’s shareholders dated May 19, 2021 and effective June 2, 2021, approved a 500-for-1 stock split of dLocal’s common shares, whereby every share of capital stock of dLocal was converted into 500 shares, increasing the authorized share capital to 1,500,000,000 common shares and changing the par value of the common shares from $1.00 to $0.002. As a result, the share capital previously represented by 577,008 common shares was increased to 288,504,000 common shares. The stock split affected all of our existing shareholders uniformly and did not affect any individual shareholder’s percentage ownership interest in the Company. References made to outstanding shares and per share amounts in the accompanying financial statements and applicable disclosures have been retroactively adjusted to reflect this stock split.

These Consolidated Financial Statements as of December 31, 2022, were approved by dLocal’s Board of Directors on April 4, 2023.

2.2. Basis of consolidation

Business combinations

The Group accounts for business combinations using the acquisition method when control is transferred to the Group. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in profit or loss immediately. Transaction costs are expensed as incurred, except if they are related to the issue of debt or equity instruments.

The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss.

Any contingent consideration payable is measured at fair value at the acquisition date. If the contingent consideration is classified as equity, then it is not remeasured, and settlement is accounted for within equity. Otherwise, subsequent changes in the fair value of the contingent consideration are recognized in profit or loss.

There were no significant business combinations during 2022 and 2021.

Subsidiaries

The Group consolidates all entities over which it has control. Control is achieved when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Inter-company transactions, balances, income and expenses on transactions between Group companies are eliminated.

Subsidiaries are all entities over which dLocal has control. Subsidiaries are fully consolidated from the date dLocal obtains control of the subsidiary and ceases when dLocal loses control of the subsidiary. The subsidiaries included in the consolidation are described in Note 4: Consolidation of subsidiaries.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

2.3. Foreign currencies

i) Functional and presentation currency

Items included in the Financial Statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The Consolidated Financial Statements are presented in U.S. Dollar, which is dLocal’s functional and presentation currency.

ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in profit or loss.

The Group adopts an allocation policy for foreign exchange differences in order to allocate them to the various line items of its financial statements, based on the nature of the item that generated the exchange difference. For example, exchange differences on trade payables arising from the purchase of services and exchange differences from payins and payouts transactions are included as part of Cost of services while exchange differences arising from loans are allocated to Finance costs. This policy is applied consistently from period to period.

Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss, and translation differences on non-monetary assets such as equities classified as at fair value through other comprehensive income are recognized in other comprehensive income.

Foreign exchange gains and losses resulting from the measurement at period end exchange rates of monetary assets denominated in foreign currencies and measured at fair value through other comprehensive income are recognized in the Consolidated Statement of Comprehensive Income.

iii) Argentine operations

The Company operates in Argentina, where the economic environment has been volatile with weak economic conditions, devaluation of local currency, high interest rates, high level of inflation and a large public deficit which led Argentina to request financial assistance from the International Monetary Fund.

The Group applied IAS 29 “Financial Reporting in Hyperinflationary Economies” (“ IAS 29”) to its operations in Argentina. IAS 29 establishes that financial statements of entities whose functional currency is that of a hyperinflationary economy must be adjusted for the effects of changes in the general price index and expressed in terms of the current unit of measurement at the closing date of the reporting period. In order to determine whether an economy is categorized as hyperinflationary under the terms of IAS 29, the standard details a series of factors to be considered, including the existence of a cumulative inflation rate in three years that approximates or exceeds 100%. Argentina experienced a significant increase in inflation during 2018, which exceeded the 100% three-year cumulative inflation rate. The three-year cumulative inflation significantly exceeded 100% at December 31, 2018, and remained significantly above that threshold in the following years.

IAS 29 requires adjustments to non-monetary items in the statement of financial position by applying a general price index from the day they were booked until the end of the reporting period. Additionally, it also requires that all items in the statement of comprehensive income are expressed in terms of the measuring unit current at the end of the reporting period.

The inflation adjustment was calculated by means of a conversion factor derived from the Argentine price indexes published by the Argentine Federation of Professional Councils of Economic Sciences National Institute of Statistics (“FACPCE”). The price index for the year ended December 31, 2022, was 1.9 (1.5 and 1.36 for the years ended December 31, 2021 and 2020, respectively).

Results of operations in Argentine Pesos, after adjustment for inflation pursuant to IAS 29, were then converted into U.S. Dollars at the closing exchange rate for such reported period. This process is called “translation”.

iv) Group companies

The results and financial position of foreign operations of non-hyperinflationary economies that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

•

Assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statements of financial position

•

Income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates, and

•

All resulting exchange differences are recognized in other comprehensive income.

The results and financial position of foreign operations whose functional currency is the currency of a hyperinflationary economy are translated into the presentation currency as follows:

•

All amounts (i.e. assets, liabilities, equity items, income and expenses) are translated at the closing rate at the date of the most recent statement of financial position.

On consolidation, exchange differences arising from the translation of foreign entities are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.

The following is the detail of the exchange rates of the main currencies used by the Group compared to the USD in the year ended December 31, 2022 and 2021:


	Average rate				Year-end spot rate
	2022		2021		Dec 31, 2022		Dec 31, 2021
Argentina (ARS/USD)		132.1		94.9		176.7		102.6
Brazil (BRL/USD)		5.2		5.4		5.3		5.6
Chile (CLP/USD)		872.3		758.5		851.1		850.3
Colombia (COP/USD)		4,273.1		3,741.8		4,852.5		3,981.2
Costa Rica (CRC/USD)		642.7		634.6		593.2		639.1
Dominican Republic (DOP/USD)		55.0		56.8		56.2		57.1
Ecuador (USD/USD)		1.0		1.0		1.0		1.0
Egypt (EGP/USD)		19.3		15.7		24.7		15.8
Guatemala (GTQ/USD)		7.8		7.7		7.8		7.7
India (IRN/USD)		78.8		72.2		82.7		74.3
Indonesia (IDR/USD)		14,880.2		14,308.3		15,568.0		14,241.5
Israel (NIS/USD)		3.4		3.1		3.5		3.0
Malaysia (MYR/USD)		4.5		4.1		4.4		4.2
Malta (EUR/USD)		0.9		0.8		0.9		0.8
Mexico (MXN/USD)		20.1		20.5		19.5		20.3
Morocco (MAD/USD)		10.2		9.2		10.4		9.2
Nigeria (NGN/USD)		427.2		414.7		460.8		414.6
Panama (USD/USD)		1.0		1.0		1.0		1.0
Paraguay (PYG/USD)		7,007.8		6,863.8		7,247.8		6,815.8
Peru (PEN/USD)		3.8		4.0		3.8		3.9
Singapore (SGD/USD)		1.4		1.3		1.3		1.4
South Africa (ZAR/USD)		16.4		14.8		17.0		15.9
Uruguay (UYU/USD)		41.1		44.7		39.9		43.6

2.4. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid financial instruments with original maturities of three months or less. dLocal classifies as cash equivalents a financial instrument that can be immediately converted into a known amount of cash and the fair value approximates the carrying value and that are subject to an insignificant risk of change in value. dLocal cash and cash equivalents are measured at amortized cost and are included in current assets due to their short-term nature.

2.5. Financial instruments - initial recognition and subsequent measurement

i) Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition and subsequently measured at amortized cost, fair value through other comprehensive income (“OCI”), and fair value through profit or loss (“FVPL”).

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. The Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Except for trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus transaction costs, in the case of a financial asset not at FVPL. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15-Revenue from Contracts with Customers.

In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model.

The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortized cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows while financial assets classified and measured at fair value through OCI are held within a business model with the objective of both holding to collect contractual cash flows and selling.

Financial assets as of December 31, 2022 and 2021 include cash and cash equivalents, other assets, trade and other receivables, derivative financial instruments and investments in quoted debt securities.

Subsequent measurement

The subsequent measurement of financial assets depends on their classification, which may be (i) financial assets at amortized cost; (ii) financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments); (iii) financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments); and (iv) financial assets at fair value through profit or loss.

Financial assets at amortized cost

Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment.

The Group’s financial assets at amortized cost for 2022 and 2021 include cash and cash equivalents, other assets and trade and other receivables which correspond to uncollateralized gross amounts due from acquirers, processors, merchants and preferred suppliers for services performed .

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are measured at fair value at the end of each reporting period, with any fair value gains or losses recognised in profit or loss.

Financial assets through profit or loss consist of equity investments that are held for trading, debt securities that do not qualify for measurement at either amortized cost or fair value through other comprehensive income, and equity investments for which the Company has not elected to recognize fair value gains and losses through other comprehensive income.

The Group’s financial assets at fair value through profit or loss as of December 31, 2022 and 2021 include derivative financial instruments and investment in quoted debt securities.

Financial assets at fair value through OCI

For debt instruments at fair value through OCI, interest income, foreign exchange gains and losses and impairment losses or reversals are recognized in the statement of comprehensive income and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. The Group did not hold any financial assets within this category as of December 31, 2022 or 2021.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Group can elect to irrevocably present in other comprehensive income subsequent changes in the fair value of its equity investments when they meet the definition of equity under “IAS 32 Financial Instruments: Presentation” and are not held for trading. This election is made on an instrument-by-instrument basis. Gains and losses on these financial assets are never recycled to profit or loss. The Group did not hold any financial asset within this category as of December 31, 2022 and 2021.

Derecognition

A financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets, is derecognized when:

•

The rights to receive cash flows from the asset expire; or

•

dLocal transfers its rights to receive cash flows from the asset or assumes an obligation to pay the received cash flows in full to a third party under a “pass-through” arrangement; and (a) transfers virtually all the risks and benefits of the asset, or (b) neither transfers nor retains virtually all the risks and benefits of the asset, but transfers control of the asset.

When dLocal has transferred its rights to receive cash flows from an asset and has not transferred or retained substantially all the risks and benefits of the asset, this asset is recognized to the extent of dLocal’s continuing involvement in the asset. In such case, dLocal also recognizes an associated liability. The Group did not recognize this type of financial assets and liabilities as of December 31, 2022 or 2021.

The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that dLocal Group has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of the consideration that dLocal may be required to repay.

ii) Impairment of financial assets

dLocal assesses, at the reporting date, if there is objective evidence that a financial asset or a group of financial assets is impaired. The Group recognizes an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss.

ECLs are based on the difference between the cash flows contractually due and all the cash flows that the Group expects to receive, discounted at the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

The Group applies a simplified approach on trade and other receivables in calculating ECLs, therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs and on segmentation of trade receivables. The Group uses historical loss experience in trade receivables and adjusts historical loss rates to reflect information about current conditions and reasonable and bearable forecasts of future economic conditions.

iii) Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, amortized cost or as derivatives designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs.

The Group’s financial liabilities as of December 31, 2022 and 2021 include trade and other payables, lease liabilities, derivative financial instruments, contingent consideration liability and borrowings.

Subsequent measurement

The subsequent measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include held-for-trading financial liabilities and financial liabilities designated at fair value through profit or loss at initial recognition.

Financial liabilities are classified as held-for-trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9- Financial Instruments.

Gains and losses on held-for-trading liabilities are recognized in the statement of comprehensive income.

The Group’s financial liabilities at fair value through profit or loss as of December 31, 2022 and 2021 include derivative financial instruments and contingent consideration liability.

Financial liabilities at amortized cost

After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost, using the effective interest rate (“EIR”) method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process. This category is the most relevant to the Group.

Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortization is included in “Finance costs” in the Consolidated Statement of Comprehensive Income.

This category for 2022 and 2021 includes all trade and other payables which represent liabilities for goods and services that have been acquired in the ordinary course of business from suppliers, borrowings and lease liabilities. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.

The book value of trade payables approximates their fair value due to their short-term nature.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of comprehensive income.

iv) Derivative financial instruments

Derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.

The Group operates in several foreign currencies and consequently is exposed to foreign currency risk. From time to time, the Group uses derivative financial instruments, such as delivery and non-deliverable forward currency contracts to hedge or reduce exposure to foreign currency risks. The Group has elected to separate the spot element from the forward element of certain derivative financial instruments and designated as the hedging instrument only the change in the fair value of the spot element. The change in the fair value of the spot element of such derivatives is presented in the Costs of services line item. The change in the fair value of the forward element of such derivatives is presented in the Finance costs line item. For information about derivative financial instruments see Note 24: Derivative financial instruments.

In addition, the Group had an option agreement in place with one shareholder (“Investor”), more fully explained in Note 24, pursuant to which the Investor has outstanding options to purchase shares that are classified as derivative financial liability instruments at the end of the year. dLocal acts as a guarantor for the obligations assumed by certain shareholders and the liability arises due to the potential issue of shares on a cashless basis.

Accordingly, in 2021 and 2020 these outstanding derivatives were recognized in the Group’s consolidated statement of financial position at fair value through profit or loss, where results and changes in fair value from these contracts are recorded in financial income or loss.

v) Fair value of financial instruments

The Group measures its financial assets at fair value through profit or loss at fair value at each reporting date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

•

In the principal market for the asset or liability; or

•

In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Group.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

•

Level 1 - quoted (unadjusted) prices in active markets for identical assets or liabilities;

•

Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

•

Level 3 - techniques using inputs that have a significant effect on the recorded fair value that are not based on observable market data.

The Group uses observable market data to the extent possible. For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

vi) Current versus non-current classification

The Group presents financial assets and liabilities in the statement of financial position based on current and non-current classification. An asset is current when it is: (i) expected to be realized or intended to be sold or consumed in the normal operating cycle; (ii) expected to be realized within twelve months after the reporting period; (iii) held primarily for the purpose of trading; or (iv) cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.

A liability is current when: (i) it is expected to be settled in the normal operating cycle; (ii) it is due to be settled within twelve months after the reporting period; (iii) it is held primarily for the purpose of trading; or (iv) there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. All other liabilities are classified as non-current.

vii) Financial instruments-offsetting

Financial assets and liabilities are presented net in the consolidated statement of financial position if, and only if, there is an existing and enforceable legal right to offset the amounts recognized and an intention to offset or to realize the asset and settle the liability simultaneously.

The Group presents trade payables to Merchants net of trade receivables from fees and trade receivables from processing entities net of fees considering that there is an enforceable legal right to offset and the Group expects to cancel such obligations on a net basis. For further detail refer to Note 27: Offsetting financial assets and financial liabilities.

2.6. Current and deferred income tax

Current and deferred income tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income.

Current income tax

Tax assets and liabilities for the current year are calculated based on the expected recoverable amount or the amount payable to the tax authorities on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date in the countries where dLocal operates and generates taxable income.

Current income tax related to items recognized directly in equity are recognized in equity. dLocal periodically evaluates the tax positions involving interpretation of tax regulations and establishes provisions when appropriate.

The Group offsets current tax assets and current tax liabilities against the same tax authority when it has a legally enforceable right to set off current tax assets against current tax liabilities.

Deferred income tax

Deferred income tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

Deferred income tax assets and liabilities are recognized for all temporary taxable differences, except in the following situations:

•

Temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; and

•

Temporary differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future.

Deferred income tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date and tax loss carryforwards, to the extent that it is probable that taxable profit will be available against which they can be offset.

The carrying amount of deferred income tax assets is reviewed at each reporting date to assess whether it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax assets to be utilized. Unrecognized deferred tax assets are reassessed, at each reporting date, and are recognized to the extent that it has become probable that future taxable profits will be available to allow their utilization.

2.7. Property, plant and equipment

Property, plant and equipment are stated at historical cost, net of accumulated depreciation and accumulated impairment losses, if any, except for items in this category of the Argentine operations that were adjusted upon IAS 29 requirements as detailed in Note 2.3 Foreign currencies. Historical cost includes expenditures that are directly attributable to the acquisition of the items and the cost of the item is material and can be measured reliably. Repairs and maintenance and all other expenditures are charged to profit or loss during the period in which they are incurred.

Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with these costs will flow to dLocal and that such benefits can be reliably measured. The carrying amount of replaced items or parts is derecognized. All other repairs and maintenance expenses are charged to the statement of comprehensive income during the year in which they are incurred.

The assets’ residual values and useful lives are reviewed at the end of each reporting period, and adjusted on a prospective basis, if appropriate. Depreciation is calculated on a straight-line basis over the estimated useful lives of the asset, as follows:


Computer Equipment	3 years


Building Improvements	10 years

As described in Note 19: Leases, during 2020 the Group signed a contract modification on a lease and incurred in costs for the design and construction of the new offices, such as professional fees of architects and construction suppliers as well as costs of building materials. Such costs were not contingent on obtaining the lease, did not influence the lease contract negotiation and therefore did not qualify as initial direct cost to be included in the right-of -use asset initial measurement. Accordingly, these costs were recognized as “Work in progress” and transferred to a new Property, plant and equipment line item called “Building Improvements” when the asset was ready for use. These assets will be amortized using the straight-line method, over the shorter of the estimated useful life of the asset or the remaining term of the lease.

An item of property, plant and equipment is derecognized upon disposal or when future economic benefits are expected from its use or disposal.

Any gain or loss on disposal (calculated as the difference between the net disposal proceeds with the carrying amount of the asset) is recognized within “Other results” in the statement of comprehensive income when an asset is derecognized.

An asset’s carrying amount is immediately written down to its recoverable amount when the asset’s carrying amount is greater than its estimated recoverable amount. For further information see Note 2.9: Impairment of non-financial assets.

2.8. Intangible assets

Externally acquired intangible assets are initially recognized at cost and subsequently amortized on a straight-line basis over their useful economic lives, up to three years. As mentioned in Note 20: Intangible assets, during the year 2021 Dlocal acquired certain intangible assets that are amortized on a straight-line basis in 18.75 years.

dLocal’s business is based on digital products and services used to facilitate commercial relationships between international merchants and their customers in emerging markets. dLocal is continuously developing future product releases, enhancements and upgrades to existing software and maintenance oriented to bug fixes for existing products. Internal costs associated with the development of software and projects for which there is a likelihood that future economic benefits will arise are capitalized and amortized over their useful life.

Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by dLocal are recognized as intangible assets. Directly attributable costs relating to internal development of software are capitalized as part of the software product, which mainly includes costs incurred with employees and third-party contracted services.

The expenses capitalized are only related to the development phase and are capitalized only if the Group can demonstrate the following:

•

The technological feasibility of completing the intangible asset so that it will be available for use or sale.

•

Its intention to complete the intangible asset and use or sell it.

•

Its ability to use or sell the intangible asset.

•

How the intangible asset will generate probable future economic benefits.

•

The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.

•

Its ability to measure reliably the expenditure attributable to the intangible asset during its development.

Other development expenditures that do not meet the capitalization criteria are expensed as incurred.

Development costs previously recorded as an expense are not recognized as an asset in a subsequent period and are included in the statements of comprehensive income mainly within salaries and wages item. Capitalized computer software development costs are amortized over their estimated useful lives which are reviewed at the end of each reporting period, and adjusted on a prospective basis, if appropriate. dLocal amortizes capitalized software development costs on a straight-line basis over a period of up to three years. Management believes this is a reasonable estimated useful life based on an assessment evaluating expected usage of the asset.

2.9. Impairment of non-financial assets

dLocal considers the ability of the asset to generate future economic benefits related to the internal use of it in the development of dLocal business. The future economic benefits arise from making the service attractive for new or existing merchants, reducing costs by the elimination of unnecessary activities, among others.

An assessment is made at each reporting date to determine whether there is an indication that an asset may be impaired or to determine whether previously recognized impairment losses no longer exist or have decreased. If any indication exists, the Group estimates the asset’s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets.

In determining fair value less costs of disposal, recent market transactions are considered. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other available fair value indicators.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

The Group did not record an impairment for non-financial assets during 2022, 2021 and 2020.

2.10. Provisions

Provisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are not recognized for future operating losses.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are established for all contingencies related to lawsuits or claims for which it is probable that an outflow of funds will be necessary to settle the contingency/obligation and a reasonable estimate can be made.

The assessment of the likelihood of loss includes the evaluation of available evidence, the hierarchy of laws, available case law, recent court decisions and their importance in the legal system, as well as the opinion of outside legal counsel. The provisions are reviewed and adjusted to reflect changes in circumstances.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense. Provisions are disclosed in the statement of financial position according to its nature.

2.11. Share-based payments and warrants

2.11.1. General description - Share-based payments

Share-based compensation benefits are provided to certain key employees via dLocal’s Employee Share Purchase Plan (“ESPP”) composed of the “Ordinary A Share Purchase Agreement and the Share Restriction Agreement”, several “Share Option Award Agreements” and “Restricted stock unit agreements” (together referred to as the “Agreements”) and shares granted by the "dLocal Limited amended and restricted 2020 Global Share Incentive Plan" mentioned in note 1.2.

Under these Agreements, some employees and members of the executive management team as defined by the Board of Directors, were granted share options, restricted stock units (“RSU”) or shares in return for their services to the Group.

dLocal receives services in exchange for its own equity instruments and does not have any obligation to settle the obligation with cash, so the Plan is classified as equity settled. The only condition to be met is the delivery of service by the employee during a certain period as defined in the Agreements.

The fair value of options granted under ESPP is measured at grant date and recognized in accordance with the requirements of IFRS 2, as an employee benefits expense, with a corresponding increase in equity.

The total expense is recognized over the vesting period using a graded attribution model, which is the period over which all of the specified vesting conditions are to be satisfied.

When the options are exercised, dLocal issues the shares to the employee. The proceeds received, net of any directly attributable transaction costs, are credited directly to equity.

2.11.2. General description - Warrants

During 2019 the Group issued a warrant (the “Warrant”) to one of its merchants (the “Merchant”) to acquire up to 17,345,000 ordinary shares exercisable through January 24, 2026 at a purchase price per share of either (1) U.S. Dollars 0.57 or (2) upon any reorganization (including any change of control) of the Company, the lesser of (i) U.S. Dollars 0.57 and (ii) sixty percent (60%) of the price per share paid in or implied by such transaction.

The Warrant is exercisable for ordinary shares, either for cash or on a net issuance basis with no net cash proceeds to the Company. The number of ordinary shares to be issued on a net issuance basis is the quotient obtained by dividing (i) the product of the number of ordinary shares as to which the Merchant exercises the Warrant multiplied by the difference between the fair market value per ordinary share at the time of exercise and the exercise price by (ii) the fair market value per ordinary share at the time of exercise.

The Warrant limits the Merchant’s beneficial ownership to 4.999% of the outstanding ordinary shares unless the Merchant waives this limit upon 61 days’ notice.

Concurrent with the Warrant issuance, the Company and the Merchant entered into a service agreement. The Company has determined the Warrant is (i) a payment to a customer related to a revenue contract under IFRS 15, and (ii) an equity-settled share-based payment under IFRS 2. Accordingly, the fair market value of the Warrant was deducted from revenue at the inception of the service agreement.

On September 2, 2021, the holder of the warrant exercised part of the ordinary shares, as described in Note 2.11.4.

2.11.3. Employee Share Purchase Plan

Under the Group‘s ESPP certain employees can purchase shares subject to a payment defined in their Share Award Agreement.

In November 2020 dLocal Group Limited signed a non-recourse “Loan Agreement” with two officers in order to fund the shares acquisition under the ESPP. The loan amounted to USD 31.5 million, accrued interest at a nominal annual rate of 1.5%. The loan was treated as a grant of stock options and did not involve any cash outflow to the Group.

Considering the substance of this transaction it was accounted as an option plan. In this sense, neither the shares nor the loan, are outstanding until either the options are exercised by paying the exercise price for the shares - i.e. by repaying the loan - or the options expire. Accordingly, until exercise of the options, the shares ‘issued’ to employees are treated as treasury shares and no financial asset for the loan receivable from the employees is recognized until this time. The loan agreement was fully repaid with interest during 2021.

Set out below are summaries of restricted stock units and share options granted under the plan:


	2022					2021 *
	Average					Average
	exercise price		Number of			exercise price		Number of
	(U.S. Dollars)		options and RSUs			(U.S. Dollars)		options and RSUs
At the beginning of the year		1.16		4,032,345			1.22		17,361,000
Granted during the year		18.90		1,474,463			3.69		2,371,345
Exercised during the year		3.45		(1,136,375	)		2.03		(15,685,000	)
Forfeited during the year		10.31		(835,872	)		4.15		(15,000	)
At the end of the year		8.30		3,534,561			1.16		4,032,345
Vested and exercisable at the end of the year		4.06		347,788			3.54		486,750

No options expired during the periods covered in the above table.

Share options and restricted stock units outstanding at the end of the year have the following vesting dates and exercise prices:


Grant date	Vesting period	Last vesting date	Exercise price (U.S. Dollars per A Share)		Share options and RSUs December 31, 2022			Share options and RSUs December 31, 2021
August 1st, 2018	3 years	August 1st, 2021		0.74		—			90,500
October 1st, 2019	3 years	October 1st, 2022		2.18		—			90,000
August 24th, 2020	5 years	August 24th, 2025		3.30		700,000			835,000
November 15th, 2020	4 years	November 15th, 2024		4.15		87,750			135,000
November 23rd, 2020	5 years	November 23rd, 2025		3.88		—			525,500
January 1st, 2021	5 years	January 1st, 2026		3.88		132,000			210,000
March 1st, 2021	1 year	March 1st, 2022		0.002		5,500	*	5,500		*
March 2nd, 2021	5 years	March 2nd, 2026		7.44		8,000			10,000
March 11th, 2021	5 years	March 11th, 2026		0.002		725,375	*	1,031,000		*
March 11th, 2021	5 years	March 11th, 2026		7.44		28,000			36,000
March 12nd, 2021	5 years	March 12nd, 2026		7.44		—			7,000
March 15th, 2021	5 years	March 15th, 2026		7.44		—			7,500
March 29th, 2021	5 years	March 29th, 2026		7.44		—			10,000
May 11th, 2021	5 years	May 11th, 2026		7.44		453,500			927,500
May 11th, 2021	3 years	May 11th, 2024		0.002		22,500	*	22,500		*
May 18th, 2021	5 years	May 18th, 2026		16.17		10,000			10,000
December 9th, 2021	5 years	December 9th, 2026		0.002		69,235	*		79,345	*
February 21st, 2022	5 years	February 21st, 2027		0.002		6,930	*		—
March 16th, 2022	5 years	March 16th, 2027		30.47		20,000			—
March 28th, 2022	5 years	March 28th, 2027		30.27		55,256			—
April 1st, 2022	5 years	April 1st, 2027		0.002		4,886	*		—
May 1st, 2022	5 years	May 1st, 2027		0.002		57,665	*		—
May 1st, 2022	5 years	May 1st, 2027		26.01		240,000			—
May 18th, 2022	5 years	May 18th, 2027		19.72		160,000			—
May 26th, 2022	5 years	May 26th, 2027		21.02		20,000			—
July 1st, 2022	6 years	July 1st, 2028		26.70		88,500			—
July 1st, 2022	3 years	July 1st, 2025		0.002		13,428	*		—
August 15th, 2022	5 years	August 15th, 2027		0.002		20,000	*		—
August 15th, 2022	5 years	August 15th, 2027		29.23		206,250			—
September 1st, 2022	5 years	September 1st, 2027		0.002		2,213	*		—
September 5th, 2022	5 years	September 5th, 2027		0.002		937	*		—
September 6th, 2022	5 years	September 6th, 2027		26.51		30,000			—
October 1st, 2022	5 years	October 1st, 2027		0.002		2,586	*		—
October 3rd, 2022	5 years	October 3rd, 2027		0.002		4,379	*		—
October 17th, 2022	5 years	October 17th, 2027		0.002		2,805	*		—
October 17th, 2022	5 years	October 17th, 2027		21.39		50,000			—
December 9th, 2022	5 years	December 9th, 2027		0.002		306,866	*		—
Total						3,534,561			4,032,345

Weighted average remaining contractual life of restricted stock units and share options outstanding at end of the year					3.61 years			4.24 years


*	Corresponds to Restricted Stock Units granted

2.11.4. Warrant agreement

Set out below is a summary of the warrants granted:


	2022				2021
	Average				Average
	exercise price				exercise price
	per share				per share
	warrant		Number of		warrant		Number of
	(U.S. Dollars)		warrants		(U.S. Dollars)		warrants
As of January 1		0.57		15,213,587		0.57		17,345,000
Exercised during the year		—		—		0.57		(2,131,413	)
As of December 31		0.57		15,213,587		0.57		15,213,587
Vested and exercisable at December 31		0.57		15,213,587		0.57		15,213,587

No warrants expired during the periods covered by the above table.

All warrants expire on January 1, 2026.

2.12. Leases and right of use assets

dLocal recognizes the liability of the future payments and the right of use of the leased asset for all lease contracts, except short-term and leases for low-value assets. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. Short-term and low-value assets contracts are recognized as an expense in the Consolidated Statement of Comprehensive Income as they accrue.

Short-term Leases

The Group has signed lease contracts of one year or less in the following countries: Malta, Israel, Brazil, China, Chile, Colombia, India, Singapore, and Argentina.

In those locations the Group uses co-works facilities and seeks to sign short-term contracts as a general practice, in order to have flexibility to increase, reduce or terminate leases based on the Group’s operations and plans. The type of facilities used represent low levels of costs to change locations and no relevant modifications or constructions are made to these leased facilities.

In all these markets there are available suitable alternatives since the offices do not require special infrastructure and there are low costs of returning the assets.

Management reviews at the end of each term the need to extend the leasing or not, based on activities undertaken by the Dlocal entity, market trends (economic and health) as well as strategic plans for each country.

For the application of IFRS 16 Leases the Group applies a practical expedient to account for leases for which the lease term ends within 12 months of the date of initial application as short-term leases. For these leases, in subsequent reporting periods, the Group applies the short-term exception established in IFRS 16 Leases. Consequently, it recognizes the related lease payments as an expense on a straight-line basis over the lease term.

Long-term Leases

dLocal Technologies SA (Uruguay) signed on February 15, 2018 a 4-year contract to lease Unit 507 (347,99 m2) of WTC Free Zone in Uruguay.

This contract established the following payments structure (all amounts in thousands):

•

USD 0,140 monthly during the first year

•

USD 0,153 monthly during the second year

•

USD 0,171 monthly during the third year

•

USD 0,175 monthly during the fourth year

The term of 4 years can be extended for periods of 5 years, unless any of the parties informs the other of its decision to terminate with at least 120 days anticipation of the expiry date.

The incremental borrowing rate, used to discount payments to be made after January 1st, 2019, was estimated in 6.52% (in USD). Since Dlocal did not have loans to consider its costs as a reference such rate was estimated as the rate that dLocal would have had to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.

Related to this contract between dLocal Technologies S.A. and WTC Free Zone S.A. for the use of Unit 507, as of August 11, 2020 a contract modification was signed in order to return such Unit and start using Units 1531 and 1631 of the building WTC Free Zone II, when the latter become available to dLocal. After the modification of contract, Dlocal Technologies S.A. has the right to use 1,610.64 m2 (805.32 m2 each Unit) and has to make monthly payments of USD 46

The commencement date of this new lease occurred during April, 2021, and the lease term was 10 years. The Group incurred in costs for the design and construction of the new offices during 2020 and 2021, identified as "Work in Progress" in line "Property, Plant and Equipment".

Such costs were not contingent on obtaining the lease, did not influence the lease contract negotiation and therefore they do not qualify as initial direct cost to be included in the right-of-use asset initial measurement accounted in 2021.

On June 9, 2022, Dlocal Opco UK Ltd. signed a 2-year contract to lease an office in London.

This contract establishes the following payments structure:

•

GBP 12,800 (USD 16) per month + Value Added Tax (“VAT”).

•

GBP 3,399.68 (USD 4) + VAT discount from September 2022 to February 2024.

•

Additional non-refundable fees of GBP 540 (USD 1) + VAT.

On each anniversary of the start date for the office, the membership fee will be subject to an automatic three and a half percent (3.5%) increase over the then current Membership Fee.

The term of 2 years can be extended for 1-month terms unless the Company terminates the agreement.

For subsequent periods the treatment of leases that do not apply for the short-term exception is as follows:

•

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

•

fixed payments (including in-substance fixed payments), less any lease incentives receivable

•

variable lease payment that are based on an index or a rate, initially measured using the index or rate as of the commencement date

•

amounts expected to be payable by the Group under residual value guarantees

•

the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and

•

payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.

•

Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.

•

The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Group, the incremental borrowing rate is used, being the rate that the Group would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

•

To determine the incremental borrowing rate, the Group:

•

where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; or

•

uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by the Group, which does not have recent third-party financing, and makes adjustments specific to the lease.

•

The Group can be exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.

•

Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

•

Right-of-use assets are measured at cost comprising the following:

•

the amount of the initial measurement of lease liability

•

any lease payments made at or before the commencement date less any lease incentives received

•

any initial direct costs, and

•

restoration costs.

•

Right-of-use assets are generally amortized over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is amortized over the underlying asset’s useful life.

2.13. Equity

Ordinary shares are classified as equity and incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Provision is made for the amount of any dividend declared, being appropriately authorized and no longer at the discretion of the Company, on or before the end of the reporting period but not distributed at the end of the reporting period.

dLocal calculates and presents basic and diluted earnings per share (“EPS”) information for its ordinary shares. The calculation of earnings per share is the following:

•

Basic EPS: results from de division of

a. Profit for the year attributable to shareholders, by

b. the weighted average number of outstanding ordinary shares outstanding during the period.

•

Diluted EPS: results from adjusting the Basic EPS for the effects of all dilutive potential ordinary shares which passed on contractual conditions (e.g. vesting). Diluted EPS is calculated as the division of

a. Profit for the year attributable to shareholders, by

b. the weighted average number of outstanding ordinary shares outstanding during the period, adjusted by dilutive effects.

Repurchase of shares represent the shares of the Company that are held in treasury. Own shares are recorded at cost and deducted from equity.

2.14. Revenue

dLocal provides payment processing services to merchants as follows:

•

dLocal specializes in local payments so that merchants can reach consumers located in emerging markets. On a recurring basis merchants and their customers are exchanging goods and services while dLocal provides the payment solution to that relationship. dLocal does not have any obligation to provide such goods or services between the merchant and its customer but is responsible for processing payments through its platform.

•

dLocal only processes the payment through its platform when a complete authorization request was made by the merchant. The authorization request shall be made by transmitting the authorization data of the transaction to dLocal.

•

dLocal contracts with service providers for the authorization, processing and settlement services performed by payment schemes networks and card issuers.

•

dLocal is not responsible for the credit risk or the chargebacks risk of the cardholder (i.e., the merchant customer). The merchant is responsible for the credit checks.

dLocal earns revenues from fees charged to merchants in connection with payment processing services for cross-border and local payment transactions in emerging markets. These fees are primarily generated on a per approved transaction basis as either a fixed fee per transaction or fixed percentage per transaction.

dLocal also earns foreign exchange fees on cross-border transactions defined as transactions in which the merchant and its customer are in different countries and dLocal converts currencies and transfers funds between countries, as required by the merchant. Foreign exchange fees are usually determined based on a percentage or a fixed fee.

dLocal’s service offering comprises a single performance obligation to complete payments via its platform for merchants and their customers.

Revenues from contracts with customers are recognized as control of services is transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services in the ordinary course of Group’s activities.

The Group applies the following five steps:

Identification of the contract with a client (i.e., merchant).

Identification of the performance obligations in the contract.

Determination of the transaction price.

Allocation of the transaction price to the performance obligations in the contract.

Recognition of revenue when or as the entity satisfies a performance obligation.

dLocal performs two types of transactions:

•

Payins: are transactions where dLocal collects money in local currency in emerging markets countries and makes it available for merchants in their requested currency and country, after a settlement period. Revenue for this type of transaction is recognized when the authorized transaction is processed. This type of revenue is recognized at a point in time.

•

Payouts: are transactions where dLocal collects money from its merchants in the countries and currencies of preference and then disburses money in local currency in emerging markets countries according to the merchants’ instructions. Revenue for this type of transaction is recognized upon completing the payout of an authorized transaction in local currency. This type of revenue is recognized at a point in time.

dLocal’s contracts with merchants are usually open-ended and can be terminated by either party without a termination penalty after the notice period has lapsed. dLocal’s contracts are, therefore, defined at the transaction level and do not extend beyond the service already provided.

Changes in the classification of revenues

For the year ended December 31, 2022, the Group has adopted a voluntary change in the classification of certain fees as Transaction Revenues and Other revenues, to better reflect which revenues are driven by payments processed volumes and which are not. Such change was applied retrospectively to the years ended December 31, 2021 and 2020.

In 2022, 2021 and 2020 the change consisted of a reclassification of installments, chargebacks and refunds fees from the line item Other revenues to Transaction revenues, to better reflect that such revenues are driven by payments processed volumes.

Additionally, in 2022 a voluntary change in the classification of invoice processing service fees was made from the line item Other revenues to Transaction revenues (either as processing fees or foreign exchange fees) related to certain payins and payouts transactions where both the sender and the receiver were businesses and where the Group required certain documentation as invoices to process the transaction. Such change in classification only impacted on the third quarter of 2022 and was also adopted to better reflect that such revenues are driven by payments processed volumes.


	For the year ended December 31, 2021			For the year ended December 31, 2020
	As previously reported	Reclassification	As reclassified	As previously reported	Reclassification	As reclassified
Transaction revenues	234,417	7,397	241,814	98,490	4,999	103,489
Other revenues	9,703	(7,397)	2,306	5,653	(4,999)	654
Revenues from payment processing	244,120	—	244,120	104,143	—	104,143

Revenue from contracts with merchants comprises:

Transaction revenues

The Group recognizes fees charged to merchants as transaction revenue and fees incurred in processing payments as cost of services. Fees earned from merchants are presented as gross revenue due to the following considerations which indicate the Group controls the payment processing services and acts as the Principal:

•

The Group bears primary responsibility to merchants for the fulfillment of the payment service.

•

The Group contracts directly with merchants and there is no contractual relationship between merchants and payment processors (i.e., the service providers).

•

The Group has independently negotiated arrangements with payment processors.

•

The established fees are independent of the costs incurred from payment processors and the Group, therefore, has full margin risk for each transaction.

•

In cross border transactions, the Group or the merchants may bear foreign exchange risk depending on each agreement. The foreign exchange fees charged to merchants are based on a fixed fee per transaction or fixed percentage of the transaction value. When the Group bears the foreign exchange risk, it occurs from the time the transaction in local currency is authorized until the Group converts the money to foreign currency (USD or EUR for payins) and from the time the Group receives the money from the merchant until the Group converts the money to local currency (for payouts).

•

The Group bears credit risk from the agents and third-party processors, acquirers and collection agents for the payment settlement. These processors collect funds from the end consumers’ financial institutions and are required to pay the proceeds from these transactions. dLocal is not insured against credit losses. If a processor or acquirer becomes insolvent, files for bankruptcy, commits fraud or otherwise fails to pay amounts owed to dLocal when due, dLocal must nonetheless process the payment transaction for the benefit of merchants and end consumers. Merchants are liable for any charges properly reversed by the card issuer on behalf of the cardholder.

Transaction revenues are recognized as revenue at a point in time when an authorized payment transaction is processed.

Transaction revenues are those that are directly related to the volume of payments processes in dollars or in quantity of transactions.

Transaction revenues are comprised by:

•

Processing fees: based on a percentage or fixed fee per approved transaction.

•

Installment fees: corresponds to the fee applied to those transactions created with installments, and can be applied to the merchant or to the end users.

•

Foreign Exchange Fees: in cross-border transactions, a spread is applied to the exchange rate used for the currency conversion and can be based on a percentage or fixed fee.

•

Other transactional fees: mainly corresponds to fees charged for each chargeback and refunds dLocal has to manage and dispute, and other transactional fees.

Other revenues

Other revenues are mainly composed of minor fees, such as an initial setup fee, minimum monthly fee, maintenance fees and small transfer fees. Other revenues are recognized at a point in time when the respective performance obligation is satisfied.

2.15. New accounting pronouncements

The accounting policies and methods of computation adopted in the preparation of these Consolidated Financial Statements are consistent with those followed in the preparation of the Group annual Consolidated Financial Statements for the year ended December 31, 2021.

The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. A number of new or amended standards became applicable for the current reporting period. The Group did not change its accounting policies or make retrospective adjustments as a result of new accounting standards made applicable on January 1, 2022.

The qualitative impact assessment of the first-time application on January 1, 2022 of new amendments is disclosed below:

Effective for Periods beginning on or after January l, 2022

The following amendments have been issued by IASB and are effective for the year ended December 31, 2022. As required by IAS 8, the nature and effect of these amendments are disclosed below. Those amendments, however, did not have material impacts on the consolidated financial statements.

Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16

The amendment to IAS 16 Property, Plant and Equipment (PP&E) prohibits an entity from deducting from the cost of an item of PP&E any proceeds received from selling items produced while the entity is preparing the asset for its intended use. It also clarifies that an entity is ‘testing whether the asset is functioning properly’ when it assesses technical and physical performance of the asset. The financial performance of the asset is not relevant to this assessment. Entities must disclose separately the amounts of proceeds and costs relating to items produced that are not an output of the entity’s ordinary activities.

Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37

The amendment to IAS 37 clarifies that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts. Before recognizing a separate provision for an onerous contract, the entity recognizes any impairment loss that has occurred on assets used in fulfilling the contract.

Annual Improvements to IFRS Standards 2018-2020

The following improvements were finalized in May 2020:

•

IFRS 9 Financial Instruments – clarifies which fees should be included in the 10% test for derecognition of financial liabilities.

•

IFRS 16 Leases – amendment of illustrative example 13 to remove the illustration of payments from the lessor relating to leasehold improvements, to remove any confusion about the treatment of lease incentives.

•

IFRS 1 First-time Adoption of International Financial Reporting Standards – allows entities that have measured their assets and liabilities at carrying amounts recorded in their parent’s books to also measure any cumulative translation differences using the amounts reported by the parent. This amendment will also apply to associates and joint ventures that have taken the same IFRS 1 exemption.

Reference to the Conceptual Framework – Amendments to IFRS 3

Minor amendments were made to IFRS 3 Business Combinations to update the references to the Conceptual Framework for Financial
Reporting and to add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The amendments also confirm that contingent assets should not be recognized at the acquisition date.

New accounting pronouncements

The Company has not applied the following new and revised IFRSs that have been issued but are not yet mandatorily effective:

Amendments to IAS 1 - Classification of Liabilities as Current or Non-current

On January 23, 2020, the IASB issued narrow-scope amendments to IAS 1 Presentation of Financial Statements to clarify how to classify debt and other liabilities as current or non-current. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments include clarifying the classification requirements for debt a company might settle by converting it into equity. The amendments clarify, not change, existing requirements, and so are not expected to affect Group’s financial statements significantly. This amendment is effective for annual reporting periods beginning on or after January 1, 2023 and is to be applied retrospectively. Earlier application is permitted.

Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies

On February 12, 2021, the IASB issued 'Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)' to help preparers in deciding which accounting policies to disclose in their financial statements. This amendment is effective for annual periods beginning on or after January 1, 2023. Earlier application is permitted. The Company has not opted for early application. The management of the Company does not anticipate that the application of this amendment will have a material impact on the Company's consolidated financial statements.

Amendments to IAS 8 - Definition of Accounting Estimates

On February 12, 2021, the IASB issued 'Definition of Accounting Estimates (Amendments to IAS 8)' providing a new definition of accounting estimates to help entities to distinguish between accounting policies and accounting estimates. This amendment is effective for annual periods beginning on or after January 1, 2023. Earlier application is permitted. The Company has not opted for early application. The management of the Company does not anticipate that the application of this amendment will have a material impact on the Company's consolidated financial statements.

Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction

On May 7, 2021, the IASB issued 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)' clarifying that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. This amendment is effective for annual periods beginning on or after January 1, 2023. Earlier application is permitted. The Company has not opted for early application. The management of the Company does not anticipate that the application of this amendment will have a material impact on the Company's consolidated financial statements.

Amendments to IFRS 16 - Lease Liability in a Sale and Leaseback

On September 22, 2022, the IASB issued Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)' with amendments that clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. This amendment is effective for annual periods beginning on or after January 1, 2024. Earlier application is permitted. The Company has not opted for early application. The management of the Company does not anticipate that the application of this amendment will have a material impact on the Company's consolidated financial statements.

Amendments to IAS 1 - Non-current Liabilities with Covenants

On October 31, 2022, the IASB issued 'Non-current Liabilities with Covenants (Amendments to IAS 1)' to clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. This amendment is effective for annual periods beginning on or after January 1, 2024. Earlier application is permitted. The Company has not opted for early application. The management of the Company does not anticipate that the application of this amendment will have a material impact on the Company's consolidated financial statements.

Accounting Estimates and Judgments

12 Months Ended

Dec. 31, 2022

Disclosure of changes in accounting estimates [abstract]

Accounting estimates and judgments

Accounting estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Based on assumptions, dLocal makes estimates concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The main estimates and assumptions are addressed below:

3.1. Provisions

dLocal recognizes provisions for labor contingent claims. The assessment of the probability of a past event that gives rise to a present obligation of labor lawsuits and claims includes assessing the available evidence and jurisprudence, the hierarchy of laws and most recent court decisions. In order to conclude that assessment, management applies its professional judgment also based on its legal advisors’ opinion.

Provisions are reviewed and adjusted to consider changes in circumstances such as the applicable limitation period, findings of inspections and additional exposures identified based on new issues or court decisions.

3.2. Share-based payment transactions to employees

dLocal estimates share-based payment transactions and warrant agreements using the most appropriate valuation model and underlying assumptions, which depend on the terms and conditions of the grant and the information available at the grant date.

The Group uses certain methodologies to estimate fair value of the options and warrants granted which include the following:

•

Estimation of fair value based on equity transactions with third parties close to the grant date;

•

Other valuation techniques including option pricing models such as Black-Scholes.

These estimates also require determination of the most appropriate inputs to the valuation models including assumptions regarding the expected life of a share option and warrants and expected volatility of the price of the Group’s shares.

The model inputs for options granted during the year ended December 31, 2022 included:

(a)

Options are granted for no consideration and vest based on historical prices of comparable shares listed on Nasdaq. Vested options are exercisable for a period of five years after vesting.

(b)

Average exercise price: 25.39 U.S. Dollars.

(c)

Grant date: March 16th, March 28th, May 1st, May 18th, May 26th, July 1st, September 9th, October 17th.

(d)

Expiry date: March 16th 2032, March 28th 2032, May 1st 2032, May 18th 2032, May 26th 2032, July 1st 2032, September 9th 2032, October 17th 2032.

(e)

Average share price at grant date: 26.79 U.S. Dollars.

(f)

Average expected price volatility of the company’s shares: 43.8%.

(g)

Average risk-free interest rate: 3.1%.

The model inputs for options granted during the year ended December 31, 2021 included:

(a)

Options are granted for no consideration and vest based on historical prices of comparable shares listed on Nasdaq. Vested options are exercisable for a period of five years after vesting.

(b)

Average exercise price: 2.17 U.S. Dollars.

(c)

Grant date: January 1st, March 1st, March 2nd, March 11th, March 12th, March 15th, March 29th, ;May 11th, ;May 18 and December 9th.

(d)

Expiry date: January 1st, 2026, March 1, 2022, March 2nd 2026, March 11, 2026, March 12, 2026, March 15, 2026, March 29, 2026, May 11, 2024, May 18, 2026 and December 9th, 2026.

(e)

Average share price at grant date: 8.3 U.S. Dollars.

(f)

Average expected price volatility of the company’s shares: 39.7%.

(g)

Average risk-free interest rate: 0.7%.

The expected price volatility is based on the historic volatility (based on the remaining life of the options), adjusted for any expected changes to future volatility based on publicly available information.

Consolidation of Subsidiaries

12 Months Ended

Dec. 31, 2022

Disclosure Of Consolidation Of Subsidiaries [Line Items]

Consolidation of Subsidiaries

Consolidation of subsidiaries

dLocal Limited, located in Cayman Islands, is the parent company of the Group and acts as a holding company for subsidiaries whose main activity is cross-border and local payments, enabling international merchants to access end customers in emerging markets. Its revenue comes from dividends receivable from subsidiaries and share of profit from subsidiary partnership.

The Consolidated Financial Statements of the Group include the following subsidiaries, each of which serves a different vertical or a specific service according to the needs of the Group:


			% of equity interest held by Dlocal
Entity name	Country of incorporation	Principal activities	2022		2021
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)	-
Dlocal LLP	United Kingdom	Payments provider	99.999%		99.999%
Dlocal Corp LLP	United Kingdom	Payments provider	99.99%		99.99%
Dlocal OpCo UK LTD	United Kingdom	Payments provider	100%	(3)	-
Dlocal Inc.	United States of America	Holding Company	100%		100%
Dlocal Technologies S.A.	Uruguay	Service provider	100%		100%
Dlocal Uruguay S.A.	Uruguay	Collection agent	100%		100%
Dlocal PTE Limited	Singapore	Holding Company	100%		100%
Dlocal Argentina S.A.	Argentina	Collection agent	100%		100%
Demerge Argentina 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)	-
DLocal Bangladesh Limited	Bangladesh	Collection agent	100%		100%
Demerge Bolivia S.R.L.	Bolivia	Collection agent	100%	(3)	-
Dlocal Brasil Holding Financeira	Brazil	Holding Company	100%		100%
Dlocal Brasil Instituição de Pagamento S.A.	Brazil	Collection agent	100%		100%
Demerge Brasil Facilitadora de Pagamentos Ltda.	Brazil	Collection agent	100%		100%
Webpay Brasil Pagamentos Ltda.	Brazil	Collection agent	100%	(3)	-
Demerge Cameroun SARL	Cameroon	Collection agent	100%	(3)	-
Dlocal Chile SPA	Chile	Collection agent	100%		100%
Demerge Chile SPA	Chile	Collection agent	100%		100%
Pagos y Servicios Limitada	Chile	Collection agent	99%		100%
FCA Chile 2 Spa	Chile	Collection agent	100%	(3)	-
Dlocal Colombia S.A.S.	Colombia	Collection agent	100%		100%
Demerge Colombia S.A.S.	Colombia	Collection agent	100%		100%
W-Collect S.A.S.	Colombia	Collection agent	-	(4)	100%
BH Collect S.A.S.	Colombia	Collection agent	-	(4)	100%
Kupa Colombia S.A.S.	Colombia	Collection agent	100%	(3)	-
Dlocal Costa Rica SRL	Costa Rica	Collection agent	100%	(3)	-
Demerege Ecuador S.A. (1)	Ecuador	Collection agent	100%		0.15%
Dlocal Egypt LLC	Egypt	Collection agent	100%		100%
Dlocal El Salvador S.A de C.V.	El Salvador	Collection agent	100%	(3)	-
dLocal Ghana Limited Company	Ghana	Collection agent	100%	(3)	-
Demerge Guatemala S.A.	Guatemala	Collection agent	100%	(3)	-
Dlocal Honduras S.A.	Honduras	Collection agent	100%	(3)	-
Depansum Solutions Private Limited	India	Collection agent	99%		99%
Dlocal India Pvt Limited	India	Collection agent	99.99%		99.99%
Guisol Solutions Private Limited	India	Collection agent	100%	(3)	-
PT Dlocal Solutions Indonesia	Indonesia	Collection agent	100%		100%
Dlocal Israel Limited	Israel	Service provider	100%		100%
Dlocal SARL	Ivory Coast	Collection agent	100%	(3)	-
Demerge Japan Ltd	Japan	Collection agent	66.6%	(3)	-
Dlocal Payments Kenya Limited	Kenya	Collection agent	100%	(3)	-
Depansum Malaysia SDN. BHD.	Malaysia	Collection agent	100.0%	(3)	-
Demerge Mexico S.A. de C.V.	Mexico	Collection agent	99.999%		99.999%
Dlocal Mexico S.A. DE C.V.	Mexico	Collection agent	99.999%		99.999%
Dlocal Technologies Mexico S.A. DE C.V.	Mexico	Service provider	100%		100%
DLocal Morocco SARL AU	Morocco	Collection agent	100%		100%
Demerge Nigeria Limited	Nigeria	Collection agent	100%		100%
Dlocal Panama S.A.	Panama	Collection agent	100%		100%
Dlocal Paraguay S.A.	Paraguay	Collection agent	100%		100%
Demerge Peru S.A.C.	Peru	Collection agent	99%		99%
Depansum Perú S.A.C	Peru	Collection agent	100%	(3)	-
Dlocal Payments Philippines Incorporated	Philippines	Collection agent	100%	(3)	-
Demerge República Dominicana SAS	Dominican Republic	Collection agent	99.99%		99.99%
Dlocal Rwanda Ltd.	Rwanda	Collection agent	100%	(3)	-
Depansum PTY Limited	South Africa	Collection agent	100%		100%
DLP South Africa PTY Ltd.	South Africa	Collection agent	100%	(3)	-
Dlocal Tanzania LTD	Tanzania	Collection agent	100%	(3)	-
Demerge (Thailand) Co. LTD (2)	Thailand	Collection agent	49%	(3)	-
Dlocal Uganda LTD	Uganda	Collection agent	100%	(3)	-
Dlocal Payment Services L.L.C.	United Arab Emirates	Collection agent	100%	(3)	-
Dlocal US LLC	United States of America	Service provider	100%	(3)	-
CILFUR S.A.	Uruguay	Service provider	100%	(3)	-
Maubek S.A.	Uruguay	Service provider	100%	(3)	-
Harpot S.A.	Uruguay	Collection agent	100%	(3)	-
Dlocal Vietnam Company Limited	Vietnam	Collection agent	100%	(3)	-


(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)	The subsidiary was liquidated during 2022.

Segment Reporting

12 Months Ended

Dec. 31, 2022

Disclosure Of Operating Segments [Line Items]

Segment reporting

The Group operates in a single operating segment, which is “payment processing”. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker, who in the Group’s case is the Executive Team, in deciding how to allocate resources and assess performance. The Executive Team is composed of the Chief Executive Officer (“CEO”), the President and Chief Operating Officer (“COO”), and the Chief Financial Officer (“CFO”).

The Executive Team evaluates the Group’s financial information and resources and assess the financial performance of these resources on a consolidated basis on the basis of Revenues, Adjusted EBITDA and Adjusted EBITDA margin as further described below.

Adjusted EBITDA and Adjusted EBITDA Margin

The Executive Team assesses the financial performance of the Group’s sole segment by Revenues, Adjusted EBITDA and Adjusted EBITDA Margin. The Adjusted EBITDA is defined as the consolidated profit from operations before financing and taxation for the year or period, as applicable, before depreciation of property, plant and equipment, amortization of right-of-use assets and intangible assets, and further excluding inflation adjustment, other operating gain/loss, impairment gain/loss on financial assets, secondary offering expenses, transaction costs, other non-recurring costs and share-based payment non-cash charges. The Group defines Adjusted EBITDA Margin as the Adjusted EBITDA divided by consolidated revenues.

The Group reconciles the segment’s performance measure to profit for the year as presented in the Consolidated Statement of Comprehensive Income as follows:


	Note	December 31, 2022			December 31, 2021			December 31, 2020
Profit for the year (i)			108,697			77,853			28,187
Income tax expense	12		11,586			7,647			3,231
Inflation adjustment	11		1,037			334			(38	)
Finance income	11		(18,078	)		(2,540	)		(502	)
Finance costs	11		24,668			544			67
Other operating (gain) / loss	24		697			(2,896	)		2,896
Impairment loss / (gain) on financial assets (ii)	16, 17		5,534			33			(808	)
Depreciation and amortization	10		8,147			4,747			992
Secondary offering expenses (iii)	8		89			5,158			453
Transaction costs (iv)	8		—			687			158
Other non-recurring costs (v)	8		2,014			—			—
Share-based payment non-cash charges, net of forfeitures	13		8,684			7,590			7,295
Adjusted EBITDA			153,075			99,157			41,931

Revenues	6		418,925			244,120			104,143
Adjusted EBITDA			153,075			99,157			41,931
Adjusted EBITDA Margin			36.5	%		40.6	%		40.3	%
Profit Margin			25.9	%		31.9	%		27.1	%

(i)

Includes a net gain of USD 14,559 related to the effective portion of the change in the spot rate of the hedged currency, which offsets a foreign exchange loss of USD 14,832 (together for a net foreign exchange loss of USD 273 included in Cost of Services). For further information refer to Notes 6(c)i, Note 11 (iii) and Note 24 Derivative financial instruments.

(ii)

USD 5.6 million corresponds to deposits in FTX Trading Ltd. (see note 17.iii).

(iii)

Corresponds to expenses incurred by dLocal in relation to a secondary offering of its shares occurred in 2021.

(iv)

Corresponds to costs related to the acquisition of PrimeiroPay explained in Note 20: Intangible Assets and costs related to the potential acquisition of business (whether the acquisition is completed or not).

(v)

In 2022, it includes non-recurring costs related to an internal review of the allegations made by a short-seller report, including fees from independent counsel, independent global expert services and forensic accounting advisory firm.

The Group’s revenue, results and assets for this one reportable segment can be determined by reference to the Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Position.

As required by IFRS 8 Operating Segments, below are presented applicable entity-wide disclosures related to dLocal’s revenues.

Revenue breakdown by region

The Group’s revenues arise from operations in 40 countries, where the merchant customers’ are based.

The table below shows the revenue breakdown based on the region where the payments from/to the merchant customers are processed in countries for which Revenue represented at least 10% of Total Revenues during the preceding four quarters:


	2022		YoY%			2021		YoY%			2020
LatAm		345,360		54.5	%		223,602		140.1	%		93,124
Brazil		84,025		40.8	%		59,698		268.8	%		16,185
Argentina		77,577		54.6	%		50,165		51.2	%		33,179
Mexico		68,000		103.7	%		33,376		150.3	%		13,337
Chile		52,464		43.7	%		36,497		163.8	%		13,834
Other countries		63,294		44.3	%		43,866		164.4	%		16,589
Asia and Africa		73,565		258.5	%		20,518		86.2	%		11,019
Revenues 1		418,925		71.6	%		244,120		134.4	%		104,143

During the years ended December 31, 2022, 2021 and 2020, the Group had no revenues from customers attributed to the entity’s country of domicile.

Revenue with large customers

During fiscal year 2022 the Group operated with more than 600 merchants (more than 420 merchants in the year ended December 31, 2021).

For the year ended December 31, 2022, the Group’s revenue from its top 10 merchants represented 50% of revenue (56% and 64% of revenue in the years ended December 31, 2021 and 2020, respectively). In 2022 there is no customer (one in 2021 and two in 2020) that on an individual level accounted for more than 10% of the total revenue.

Non current assets by country

The Company does not have any non-current assets located in the entity´s country of domicile.

Material non-current assets are the Intangible Assets described in note 20 to these Consolidated Financial Statements and are located in Malta.

Revenues and Cost of Services

12 Months Ended

Dec. 31, 2022

Disclosure of Revenues and Cost of Services [Line Items]

Revenues and Cost of Services

(a)

Revenue and Gross profit description

dLocal derives revenue from processing payments for international merchants to enable them to operate in selected emerging markets.

The breakdown of revenue from contracts with customers per type of service is as follows:


	2022			2021			2020
Transaction revenues (i)		415,444			241,814			103,489
Other revenues (ii)		3,481			2,306			654
Revenues from payment processing (iii)		418,925			244,120			104,143
Cost of services		(216,758	)		(113,677	)		(44,065	)
Gross profit		202,167			130,443			60,078

(i)

Transaction revenues are comprised of processing fees, foreign exchange fee, installment fee, chargebacks, refunds fee, and other transactional fees. These fees are recognized as revenue at a point in time when a payment transaction, or its reversal in the case of chargeback and refunds, has been processed.

(ii)

Other revenues are mainly comprised of minor fees, such as initial setup fees, maintenance fees, minimum monthly fees, and small transfer fees.

(iii)

In 2022 revenues include an amortization charge of USD 567 (USD 200 and USD 67 for 2021 and 2020, respectively) related to prepaid assets, as detailed in Note 17: Other assets.

As described in note 2.14, the Group previously presented its revenue from installments, chargebacks, refunds and invoice processing fees as “Other revenues”. However, management considers it to be more relevant if all revenues that are driven by payments processed volumes are presented in one separate line item as “Transaction revenues”. Prior year comparatives as of December 31, 2021 and December 31, 2020 have been restated by reclassifying USD 7,397 and USD 4,999, respectively, from “Other revenue” to “Transaction revenues”.

(b)

Revenue recognized at a point in time and over time

Transaction revenues are recognized at a point in time when the payment transaction, or its reversal in the case of chargeback and refunds, is processed. Other revenues are recognized as revenue at a point in time when the respective performance obligation is satisfied. The Group did not recognize revenues over time during 2022, 2021 and 2020.

(c)

Cost of services

Cost of services are composed of the following:


	2022		2021		2020
Processing costs (i)		206,223		107,276		41,655
Hosting expenses (ii)		4,331		3,351		1,257
Salaries and wages (iii)		1,411		706		497
Amortization of intangible assets (iv)		4,793		2,344		656
Cost of services		216,758		113,677		44,065

(i)

Mainly corresponds to fees that financial institutions (banks, local acquirers or payment methods) charge the Group, which are typically a percentage of the transaction value but in some instances, it also could be a fixed fee mostly in the case of payouts and are related to payment processing, cash advances, and installment payments. It varies from one institution to another and usually depends on the settlement period contracted with each such institution, the payment method used and the type of product (whether it is a payin or a payout). It also includes conversion and expatriation or repatriation costs, charged by banks and brokers. In 2022 the amount includes USD 273 of net foreign exchange loss (after considering gains from hedges of USD 14,559) on the processed volume between the processing date and the expatriation or repatriation of funds date (foreign exchange losses of USD 2,100 and USD 2,977 in 2021 and 2020, respectively).

(ii)

Expenses related to hosting services for the Group’ s payment platform.

(iii)

Consist of salaries and wages of the operations department directly involved in the day-to-day operations. For further detail refer to Note 9: Employee Benefits.

(iv)

Amortization of intangible assets corresponds to the amortization of the internally generated software (i.e., d.Local’ s payment platform) by the Group. For further detail refer to Note 20: Intangible Assets.

Technology and Development Expenses

12 Months Ended

Dec. 31, 2022

Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]

Technology and development expenses

Technology and development expenses are composed of the following:


	2022		2021		2020
Salaries and wages (i)		2,969		1,381		1,072
Software licenses (ii)		1,294		487		292
Infrastructure expenses (iii)		1,496		792		298
Information and technology security expenses (iv)		298		176		161
Other technology expenses		291		550		182
Total Technology and development expenses		6,348		3,386		2,005

(i)

Consist primarily of fulltime equivalents (“FTE”)’ compensation related to product and technology development, excluding the capitalized salaries and wages related to internally generated software. For further detail on total salaries and wages refer to Note 9: Employee Benefits.

(ii)

Consist of software licenses exclusively used by the technology development department for the development of the platform.

(iii)

Corresponds to information technology costs to support our infrastructure and back-office operations.

(iv)

Comprises expenses of overall monitoring and security of our network and platform.

Sales and Marketing Expenses and General and Administrative Expenses

12 Months Ended

Dec. 31, 2022

Material income and expense [abstract]

Sales and Marketing Expenses and General and Administrative Expenses

Sales and marketing expenses and General and administrative expenses

Sales and marketing expenses and General and administrative expenses are composed of the following:


Sales and marketing expenses	2022		2021		2020
Salaries and wages (i)		10,800		5,126		2,518
Marketing expenses (ii)		2,535		790		334
Total Sales and marketing expenses		13,335		5,916		2,852


General and administrative expenses	2022		2021		2020
Salaries and wages (iii)		24,697		20,827		14,009
Third-party services (iv)		12,431		12,632		3,615
Office expenses (v)		3,106		2,445		1,325
Travel and other operating expenses		4,755		2,330		2,903
Amortization and depreciation (vi)		3,354		2,403		336
Total General and administrative expenses		48,343		40,637		22,188

(i)

Salaries and wages related to FTE’s engaged in the Sales and marketing department of the Group. For further detail on total salaries and wages refer to Note 9: Employee Benefits.

(ii)

Expenses related to trade marketing at events, the distribution and production of marketing and advertising campaigns mostly related to public relations expenses, commissions to third-party sales force and partners, and online performance marketing.

(iii)

Salaries and wages related to administrative FTE’ s. For further detail on total salaries and wages refer to Note 9: Employee Benefits.

(iv)

This includes Advisors’ fees, Legal fees, Auditors’ fees and Human resources services fees. In 2022, third-party services also include USD 2,014 non-recurring costs related to an internal review of the allegations made by a short-seller report, including fees from independent counsel, independent global expert services and forensic accounting advisory firm. In 2021 and 2020, third-party services also include USD 5,158 and USD 453 of Secondary offering expenses, respectively, and transaction costs related to the acquisition of PrimeiroPay assets explained in Note 20: Intangible Assets (USD 687 in 2021 and USD 158 in 2020).

(v)

Consist of office rent and related expenses.

(vi)

Corresponds to amortization of right-of-use assets, amortization of intangible assets and depreciation of property, plant and equipment. For further detail on total amortization and depreciation charges refer to Note 10: Amortization and Depreciation.

Employee Benefits

12 Months Ended

Dec. 31, 2022

Disclosure Of Defined Benefit Plans [Line Items]

Employee Benefits

As of December 31, 2022 the Group FTE’s were 726 (539 and 310 in the year ended December 31, 2021 and 2020, respectively) where 40% corresponded to information technology engineers (38% and 38% in the year ended December 31, 2021 and 2020, respectively).

Employee benefits is composed of the following:


	2022		2021		2020
Salaries, wages and contractor fees (i)		42,550		27,535		13,785
Share-based payments (ii)		8,684		7,590		7,295
Total employee benefits		51,234		35,125		21,080

(i)

Salaries, wages and contractor fees includes social security costs as well as annual bonuses compensations. This line also includes USD 11,357 (USD 7,085 in 2021 and USD 2,984 in 2020) related to capitalized salaries and wages.

(ii)

The share-based payments relate to equity-settled compensation expenses. For further information refer to Note 2.11: Share-based payments and warrants.

Amortization and Depreciation

12 Months Ended

Dec. 31, 2022

Disclosure of Transactions Between Related Parties [Line Items]

Amortization and Depreciation

10.

Amortization and Depreciation

Amortization and depreciation expenses are composed of the following:


	2022		2021		2020
Amortization of intangible assets		6,891		3,917		656
Right-of-use asset amortization		518		453		181
Depreciation of Property, plant & equipment		738		377		155
Total Amortization and Depreciation		8,147		4,747		992

For further information related to depreciation of Property, plant and equipment refer to Note 18: Property, Plant and Equipment related to amortization of right-of-use assets refer to Note 19: Leases and related to amortization of intangible assets refer to Note 20: Intangible Assets.

Other Results

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Results [Line Items]

Other results

11.

Other results

Other results is composed of the following categories:


	2022			2021			2020
Interest Income from Financial Instruments (i)		18,114			2,556			443
Fair value (losses)/gains of financial assets at FVPL (i)		(36	)		(16	)		9
Other finance income (ii)		-			-			50
Finance income		18,078			2,540			502

	2022			2021			2020
Finance expense related to derivative financial instruments (iii)		(18,763	)		-			-
Other finance expenses (iv)		(5,728	)		(402	)		(47	)
Interest charges for lease liabilities (v)		(177	)		(142	)		(20	)
Finance costs		(24,668	)		(544	)		(67	)
Inflation adjustment (vi)		(1,037	)		(334	)		38
Other results		(7,627	)		1,662			473

(i)

Corresponds to interests and fair value gains from short -term liquid financial instruments and financial assets measured at fair value through profit and loss. dLocal investments during 2022 generated an interest income of USD 18,114 (USD 2,524 in 2021 and USD 427 in 2020). For further information refer to Note 15: Financial assets at fair value through profit or loss.

(ii)

During 2020, due to the effects of the COVID-19 pandemic the Group agreed with the lessor of the office at WTC Free Zone to have an exoneration of three-monthly installments that amounted to USD 50.

(iii)

In 2022 corresponds to the implicit interest rate included in the derivative financial instruments that are not designated as hedging instruments. The Group has elected to separate the spot element from the forward element of the derivative financial instruments and designated as the hedging instrument only the change in the fair value of the spot element, which is included in Costs of Services. The forward element of the derivative financial instruments, which consists of the implicit interest rate, is not designated as a hedging instrument and therefore is presented as Finance Costs. For further information refer to Note 24 Derivative financial instruments.

(iv)

Mainly corresponds to interest charges for borrowings, foreign exchange loss and other interests.

(v)

Interest charges for lease liabilities correspond to the application of IFRS 16 Leases. For further information refer to Note 19: Leases.

(vi)

Following IAS 29 requirements, Argentina’s economy is considered hyperinflationary. In this sense, the financial statements of subsidiary dLocal Argentina was restated to reflect the purchasing power of the currency and therefore a gain on net monetary position arose.

Income Tax

12 Months Ended

Dec. 31, 2022

Disclosure Of Income Taxes [Line Items]

Income Tax

12.

Income Tax

The charge for current taxation is calculated at the following income tax rates on the taxable profit for the year for the various countries in which the Group operates:


Malta	5%	(a)	Israel	23%
Cayman Islands	0%		Mexico	30%
United Kingdom	0% and 19%	(b)	India	22%
Brazil	34%	(c)	Chile	27% and 10%	(e)
Colombia	35%		Peru	29.5%
Argentina	25%, 30% and 35%	(d)	Morocco	10%, 20% and 31%	(f)
Ecuador	25%		Egypt	22.5%
Uruguay	25%		South Africa	28%
Panama	25%		Nigeria	30%
Paraguay	10%		Indonesia	22%
Guatemala	5% and 7%		Honduras	25%
Nicaragua	30%		Philippines	20%
Rwanda	30%		Singapore	17%
Kenya	30%		Malaysia	24%
Tanzania	30%		Thailand	20%
Uganda	30%		United Arab Emirates	0%
United States of America	21%		Vietnam	20%
Ivory Coast	25%		Japan	35%
El Salvador	25%		Ghana	25%
Bangladesh	32.5%		Cameroon	33%
Dominican Republic	27%		Costa Rica	30%

(a) With effect from year of assessment 2020, Dlocal Group Limited made an election in order for itself and its ‘Qualifying subsidiary’ to form a fiscal unit. The total chargeable income of the fiscal unit, resulting in a flat modified corporate tax rate of 5% being applicable directly to the income allocated to the principal taxpayer.

(b) Dlocal LLP and Dlocal Corp LLP are tax transparent UK partnerships subject to 0% income tax, and Dlocal OpCo UK LTD

is subject to a tax rate of 19%.

(c) Composed of IRPJ (Imposto de Renda de Pessoa Juridica) at the rate of 25% and CSLL (Contribuição Social sobre o Lucro Liquido) at the rate of 9%.

(d) Progressive rates: 25%, 30% and 35% depending on the tax result.

(e) General tax rate: 27%. Specific rate applicable to Propyme 10%.

(f) Progressive rates: 10%, 20% and 31% depending on the tax result.

The income tax charge recognized in profit and losses is the following:


Current Income Tax	2022			2021			2020
Current Income Tax on profits for the year		(11,682	)		(6,940	)		(3,172	)
Total Current Income Tax expense		(11,682	)		(6,940	)		(3,172	)

Deferred income tax	2022			2021			2020
Increase/(decrease) in deferred income tax assets		229			(83	)		200
Increase in deferred income tax liabilities		(133	)		(624	)		(259	)
Total Deferred income tax benefit / (expense)		96			(707	)		(59	)
Income Tax expense		(11,586	)		(7,647	)		(3,231	)

Deferred Tax Assets

The balance comprises temporary differences attributable to:


	2022		2021		2020
Tax Losses		348		31		98
Accrued Liabilities		99		318		79
Exchange differences		—		—		14
Other		51		24		25
Total		498		373		216

The recognized tax losses carry-forwards have a maximum expiration of 5 years.

Movements:


	Tax losses			Accrued liabilities			Exchange differences			Other		Total
At January 1, 2022		31			316			—			26		373
Credited / (charged) to profit & loss		317			(217	)		0			25		125
At December 31, 2022		348			99			—			51		498

	Tax losses			Accrued liabilities			Exchange differences			Other		Total
At January 1, 2021		98			79			14			25		216
(Charged) / credited to profit & loss		(67	)		237			(14	)		1		157
At December 31, 2021		31			316			—			26		373

Deferred Tax Liabilities

The balance comprises temporary differences attributable to:


	2022		2021		2020
Accrued receivables		946		900		259
Other		206		223		—
Total		1,152		1,123		259

Movements:


	Accrued Liabilities		Other			Total
At January 1, 2022		900		223			1,123
Credited / (charged) to profit & loss		46		(17	)		29
At December 31, 2022		946		206			1,152

At January 1, 2021		259		—			259
Credited to profit & loss		641		223			864
At December 31, 2021		900		223			1,123

As of December 31, 2022 and 2021, no deferred tax liability has been recognized on investments in subsidiaries. The Company has concluded it has the ability and intention to control the timing of any distribution from its subsidiaries and it is probable that there will be no reversal in the foreseeable future in a way that would result in a charge to taxable profit.

Reconciliation of effective tax rate

The effective Income Tax rate of dLocal for fiscal year 2022 was 9.6% (8.9% and 10.3% in the years ended December 31, 2021 and 2020, respectively). For fiscal year 2022 and 2021, dLocal applied for fiscal consolidation in Malta resulting in a domestic rate of 5% (fiscal consolidation was not applied for 2020, resulting in a domestic rate of 35% with a 30% of tax refund). The reconciliation between the effective Income Tax rate and the statutory rate in Malta of 5% for fiscal years 2022 and 2021, and 35% for fiscal year 2020 is as follows:


	2022			2021			2020
Profit before Income Tax		120,283			85,500			31,418
Tax at the domestic rates applicable to profit before income tax in the respective jurisdiction		(6,014	)		(4,275	)		(4,718	)
Permanent differences:
Tax effect of non-taxable income		555			3,369			8,489
Tax effect on income tax refund on dividends		—			—			(2,197	)
Effect from entities taxes in different rates		(5,440	)		(3,127	)		(4,254	)
Other permanent differences (1)		(687	)		(3,614	)		(551	)
Total Income Tax Expense		(11,586	)		(7,647	)		(3,231	)

(1) In 2022, other permanent differences comprises non-deductible expenses for USD 1,088 (USD 921 in 2021) partially offset by other differences for USD 401 (USD 658 in 2021). In 2021 it also includes non-allowable expenses for USD 678 and taxable income from subsidiaries not included in the Profit before Income Tax for an amount of USD 1,357.

Capital Management

12 Months Ended

Dec. 31, 2022

Disclosure Of Classes Of Share Capital [Line Items]

Capital Management

13.

Capital Management

(a)

Share capital and share premium

The rights of the holders of Class A Common Shares and Class B Common Shares are identical, except with respect to voting, conversion and transfer restrictions applicable to the Class B Common Shares. Each Class A Common Share is entitled to one vote while Class B Common Shares are entitled to five votes each. Each Class B Common Share is convertible into one Class A Common Share automatically upon transfer, subject to certain exceptions. Holders of Class A Common Shares and Class B Common Shares vote together as a single class on all matters unless otherwise required by law.

Authorized shares, as well as issued and fully paid-up shares, are presented below:


	2022		2021
	Amount	USD	Amount	USD
Authorized Shares of USD 0.002 USD each
Class A common shares	1,000,000,000	2,000	1,000,000,000	2,000
Class B common shares	250,000,000	500	250,000,000	500
Undesignated shares	250,000,000	500	250,000,000	500
	1,500,000,000	3,000	1,500,000,000	3,000
Issued and Fully Paid Up Shares of USD 0.002 each
Class A Common Shares	161,975,678	324	160,974,249	298
Class B Common Shares	134,054,192	268	134,054,192	292
	296,029,870	592	295,028,441	590
Share Capital evolution
Share Capital as of January 1	295,028,441	590	268,598,000	602
i) Issue of common shares at USD 0.002	1,136,375	2	19,906,000	45
ii) Par value change	—	—	—	(70)
iii) Issue of common shares at the IPO	—	—	4,411,765	9
iv) Warrant exercise	—	—	2,112,676	4
v) Repurchase of shares	(134,946)	—	—	—
Share capital as of December 31	296,029,870	592	295,028,441	590


	2022			2021
Share Premium as of January 1		157,151			—
i) Issue of common shares at USD 0.002		9,177			70,111
ii) Par value change		—			70
iii) Issue of common shares at the IPO		—			86,441
iv) Warrant exercise		—			529
v) Repurchase of shares		(2,021	)		—
Share Premium as of December 31		164,307			157,151

i)

For the year-ended December 31, 2022, dLocal issued 1,136,375 new Class A Common Shares receiving total proceeds of USD 3,939, related to the exercise of share-options and restricted stock units. Consequently, the correspondent charge to Capital reserve was recycled into the Share premium line item within equity for a total amount of USD 5,240.
 
For the year-ended December 31, 2021 and prior to the IPO date (June 3, 2021) dLocal issued 19,906,000 new Class A Common Shares receiving total proceeds of USD 63,177, according to the following details: i) 15,640,000 shares related to the exercise of share-options where dLocal received payments for USD 31,678; ii) 45,000 shares related to the exercise of share-options where dLocal received payments for USD 98; and iii) 4,221,000 shares, issued on March 3rd, 2021, where dLocal received payments for USD 31,401. Consequently, the correspondent charge to Capital reserve was recycled into the Share premium line item within equity for a total amount of USD 6,898.


ii)	On April 14, 2021 existing shareholders of dLocal Group Limited contributed the outstanding shares, with par value of 1.1211 U.S. Dollars, to dLocal, and received the same number of shares with par value of 1 U.S. Dollars.

iii)

On June 3, 2021 the following transactions took place related to the Group’s IPO: i) the Group made a 500-for-1 share split where the shareholders of dLocal exchanged 577,008 shares with par value of 1 U.S. Dollars for 288,504,000 shares of par value 0.002 U.S. Dollars of the same entity; ii) 4,411,765 shares were issued as part of the initial public offering where dLocal received a payment, net of issuance costs, of USD 86,450 based on a market price of 21.0 U.S. Dollars per share.


iv)	On September 2, 2021 a holder of warrants exercised its net issuance right resulting in a net issuance on September 7, 2021 of 2,112,676 shares at a Fair Market Value of U.S. Dollars 65.14 per share, calculated using the average price of 5 business days before the exercise date.
v)	For the year-ended December 31, 2022, dLocal repurchased 134,946 Class A Common Shares paying USD 2,021 in connection with the Share Buyback Program described in note 1.3.e).

(b)

Capital Reserve

The Capital reserve corresponds to reserves related to the share-based plans, as described in Note 2.11: Share-based payments and warrants.

The following table shows a breakdown of the Consolidated Statement of Financial Position line item ‘Capital Reserves’ and the movements in this reserve during the year:


	2022			2021			2020
Balances as of January 1		12,741			12,582			5,287
Share-options exercise (i)		(5,240	)		(6,898	)		—
Share-based payments charges (ii)		9,580			7,596			7,295
Forfeitures (ii)		(896	)		(6	)		—
Warrant exercise		—			(533	)		—
Balance as of December 31		16,185			12,741			12,582

(i) During the year-ended December 31, 2022 and December 31, 2021 a total of 1,136,375 and 15,685,000, respectively, share-options under the share-based payments plan were exercised. Consequently, the correspondent charge to Capital reserve was recycled into the Share premium line item within equity.

(ii) In the year-ended December 31, 2022, it includes the net expense related to the modification in the agreement of a former officer of the Company.

(c)

Other reserves

The Other Reserves for the Group relate to cumulative translation adjustment representing differences on conversion of assets and liabilities at the reporting date.

The following table shows a breakdown of the Consolidated Statement of Financial Position line item ‘Other Reserves’ and the movements in these reserves during the year:


	2022			2021			2020
	Cumulative Translation Adjustment			Cumulative Translation Adjustment			Cumulative Translation Adjustment
Balances as of January 1		(30	)		119			14
Movement of other reserves		(1,418	)		(149	)		105
Balance as of December 31		(1,448	)		(30	)		119

(d)

Retained Earnings

Movements in retained earnings were as follows:


Balance as of January 1, 2020	18,460
Comprehensive income for the year	28,126
Transaction between shareholders	163
Distribution of retained earnings	(15,000	)
Balance as of December 31, 2020	31,749
Comprehensive income for the year	78,118
Balance as of December 31, 2021	109,867
Comprehensive income for the year	110,126
Balance as of December 31, 2022	219,993

(e)

Earnings per share

dLocal calculates basic and diluted earnings per share as stated in Note 2.13: Equity.

The next table presents the information used as base for such calculation:


	2022		2021		2020
Profit attributable to common shareholders (U.S. Dollars)		108,682,969		77,875,575		28,183,840
Weighted average number of common shares		295,623,702		287,121,304		268,598,000
Adjustments for calculation of diluted earnings per share(1)		17,514,944		21,809,000		16,242,000
Weighted average number of common shares for calculating diluted earnings per share		313,138,646		308,930,304		284,840,000
Basic earnings per share		0.37		0.27		0.10
Diluted earnings per share		0.35		0.25		0.10

(1)

As of December 31, 2022, corresponds to the dilutive effect of i) 14,865,332 average shares related to share-based payment warrants (16,353,000 and 8,491,539, respectively for the years ended December 31, 2021 and December 31, 2020); and ii) 2,649,612 average shares related to share-based payment plans with employees (5,456,000 and 567,993, respectively for the years ended December 31, 2021 and December 31, 2020). As of December 31, 2022, excludes 439,987 potential ordinary shares that are anti-dilutive related to granted stock options for which the exercise price is higher than the market price.

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2022

Disclosure of cash and cash equivalents [line items]

Cash and Cash Equivalents

14.

Cash and cash equivalents

Cash and cash equivalents breakdown is presented below:


	2022		2021
Own Balances		247,833		227,913
Merchant Clients Funds		220,259		108,284
		468,092		336,197

As of December 31, 2022, USD 468,092 (USD 336,197 on December 31, 2021) represents cash on hand, demand deposits with financial institutions and other short -term liquid financial instruments.

Own Balances correspond to cash and cash equivalents of the Group while Merchant Clients Funds correspond to freely available funds collected from the merchant customers, that can be invested in secure, liquid low-risk assets until they are transferred to the merchants in accordance with the agreed conditions with them.

Financial Assets at Fair Value Through Profit or Loss

12 Months Ended

Dec. 31, 2022

Financial Assets At Fair Value Through Profit Or Loss [Line Items]

Financial Assets at Fair Value Through Profit or Loss

15.

Financial assets at fair value through profit or loss

(a)

Classification of financial assets at fair value through profit or loss

Financial assets include the following:


	2022		2021
Debt instruments		1,295		1,004
		1,295		1,004

For 2022 and 2021, debt instruments are investments in quoted debt securities.

For further information referred to accounting policies see Note 2.5 Financial instruments-initial recognition and subsequent measurement and related to fair value hierarchies see Note 31: Fair value hierarchy.

(b)

Amounts recognized in profit or loss

During the year, the following (losses)/gain were recognized in profit or loss:


	2022			2021			2020
Fair Value Movement transferred to profit and loss		(36	)		(16	)		9
At End of Year		(36	)		(16	)		9

(c)

Risk exposure and fair value measurements

Information about the Group’s exposure to price risk is provided in Note 30: Financial risk management.

Trade and Other Receivables

12 Months Ended

Dec. 31, 2022

Trade and Other Receivables [Line Items]

Trade and Other Receivables

16.

Trade and Other Receivables

Trade and Other Receivables of the Group are composed of the following:


	2022			2021
Trade receivables		218,922			179,199
Loss allowance		(280	)		(322	)
Trade receivables net		218,642			178,877
Advances and other receivables		21,804			12,089
		240,446			190,966

Trade Receivables correspond to uncollateralized gross amounts due from acquirers, processors, merchants and preferred suppliers for services performed that will be collected in less than one year, so they are classified as current. No financial assets are past due except for some trade receivables. All Trade and other receivables are categorized in “normal” credit risk rating ("normal" credit risk rating comprises financial assets to which significant increase in credit risk has not occurred since initial recognition).

Loss allowance and impairment losses

The following table presents the evolution of the loss allowance:


	2022			2021
Opening book value as of January 1		(322	)		(341	)
Decrease/(increase) in loss allowance for trade receivables		42			(33	)
Reversals for decrease in loss rate		—			52
Total as of December 31		(280	)		(322	)
Net impairment gain/(loss) on financial assets		42			(33	)

As disclosed in Note 2.5 Financial instruments-initial recognition and subsequent measurement, the Group applies the simplified approach to determine expected credit losses on trade receivables.

To measure the expected credit losses, trade and other receivables have been grouped based on shared credit risk characteristics and the days past due (only 0-30 past due bucket as of December 31, 2022 and 2021 because there are no other material buckets of the outstanding receivables).

The expected loss rates are based on the payment profiles of debtors over a period of 48 months before year end and the corresponding historical credit losses experienced within this period. The historical loss rate is adjusted to reflect current and forward-looking information on credit risk ratings of the countries in which the Group sells its services which affects the ability of the debtors to settle the receivables. On that basis, the expected credit loss rate of the 0-30 past due bucket was determined at 0.2% (0.4% in the year ended December 31, 2021).

For further information refer to Note 30: Financial risk management - Impairment of financial assets.

Advances and other receivables include payments made in advance as well as tax credits.

Other Assets

12 Months Ended

Dec. 31, 2022

Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]

Other Assets

17.

Other Assets

Other assets are composed of the following:


Current	2022			2021
Money held in escrow and guarantees due to: (i)		43,814			211
-Stand by credit letters required by merchants		18,575			—
-Banks requirements		19,988			—
-Processors and others requirements		1,688			80
-Credit card requirements		3,563			131
Advance payments to merchants		12,863			—
Rental guarantees		112			561
Prepaid assets (ii)		—			567
Deposits in brokers(iii)		5,576			—
Loss allowance(iii)		(5,576	)		—
Total current Other Assets		56,789			1,339

(i)

Comprises own funds and investments held in escrow and guarantees required by processors, credit cards and merchants. In 2022, some Merchants entered into stand by credit letters with banks that required the Group to maintain certain collaterals in such banks. In addition, it also includes money held in a pledge account to collateralize overdrafts and pre-settlements agreements with a bank. Finally, it also includes guarantees issued to processors and credit cards institutions. These agreements have short-term maturities.

(ii)

The Group signed an agreement with another Merchant where the Group agreed to pay USD 360 to the Merchant in exchange of a minimum amount of revenue during 2021 and 2022 and for being retained as the provider of at least the 90% of the transacted volume in all markets where dLocal offers a complete payment solution in the same. During 2022 and 2021 these assets were reduced in USD 567 and USD 200, respectively, and accounted for as a reduction of revenues.

(iii)

During 2022, the Company utilized FTX Trading Ltd. (“FTX”) services for the repatriation of funds from one country. On November 11, 2022, when FTX filed for Chapter 11 bankruptcy in the United States, the Company had deposits of USD 5,576, whose withdrawals had not been processed by FTX. Such deposits were included in the loss allowance. As of December 31, 2022, the Group does not hold any positions in crypto assets.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Disclosure Of Property Plant And Equipment [Line Items]

Property, Plant and Equipment

18.

Property, Plant and Equipment

Property, Plant and Equipment of the Group correspond to computer equipment and building improvements that are stated at cost less accumulated depreciation.


	2022			2021
	Computer Equipment	Building improvements	Total	Computer Equipment	Building improvements	Work in Progress	Total
Cost	1,823	1,257	3,080	645	—	486	1,131
Accumulated depreciation	(553)	(42)	(595)	(218)	—	—	(218)
Opening book value, January 1	1,270	1,215	2,485	427	—	486	913
Additions	987	—	987	1,178	—	771	1,949
Transfers	—	—	—	—	1,257	(1,257)	—
Depreciation of the year	(562)	(176)	(738)	(335)	(42)	—	(377)
Total as of December 31	1,695	1,039	2,734	1,270	1,215	—	2,485
Cost	2,810	1,257	4,067	1,823	1,257	—	3,080
Accumulated depreciation	(1,115)	(218)	(1,333)	(553)	(42)	—	(595)

Work in progress comprises costs related to design and offices construction costs, such as professional fees of architects and construction suppliers as well as costs of building materials, related to a new lease with a commencement date on September 1, 2021. Such costs were not contingent on obtaining the lease, did not influence the lease contract negotiation and therefore did not qualify as initial direct cost to be included in the right-of-use asset initial measurement. Accordingly, these costs were recognized as “Work in progress” and were transferred to Property, plant and equipment line item called “Building improvements”. These assets are amortized using the straight-line method, over the shorter of the estimated useful life of the asset or the remaining term of the lease.

The Group did not recognize losses from impairment of Property, Plant and Equipment during 2022 and 2021, nor reversed any impairment losses. Moreover, dLocal did not have any commitments to purchase any property, plant and equipment at year end.

For further details on accounting policies refer to Note 2.7: Property, plant and equipment.

Leases

12 Months Ended

Dec. 31, 2022

Disclosure Of Leases [Line Items]

Leases

19.

Leases

This note provides information for leases in which the Group is a lessee.

The Group’s lease contracts refer to the use of explicitly defined office facilities in different countries, where it obtains substantially all of the economic benefits and has the right to direct the use of such offices.

(a)

Amounts recognized in the Consolidated Statements of Financial Position


	2022		2021
Right-of-use assets
Offices		3,934		3,915
		3,934		3,915

	2022		2021
Lease liabilities
Current		686		502
Non-current		3,393		3,426
		4,079		3,928

During 2022 and 2021 the additions totalized USD 328 and USD 3,727, respectively.

(b)

Amounts recognized in the Consolidated Statements of Comprehensive Income

The Consolidated Statements of Comprehensive Income shows the following amounts relating to leases:


	2022		2021
Amortization of right-of-use assets
Offices		518		453
		518		453
Interest charges for lease liabilities (included within Finance Costs line item)		177		142
Leases expense for short-term leases (included within General and administrative expense line item)		332		173

The principal cash outflow for leases during 2022 was USD 386 (USD 430 in 2021).

Intangible Assets

12 Months Ended

Dec. 31, 2022

Disclosure Of Intangible Assets [Line Items]

Intangible Assets

20.

Intangible Assets

Intangible assets of the Group correspond to capitalized expenses related to internally generated software and the intangible asset acquired described below in this Note in section "Intangible Asset Acquisition".

The following table provides information about each class of intangible assets held by the Group as of December 31, 2022 and 2021. Intangible assets are stated at cost less accumulated amortization:


	2022			2021
At January 1,	Internally generated software	Acquired intangible assets (ii)	Total	Internally generated software	Acquired intangible assets (ii)	Total
Cost	12,387	39,335	51,722	4,989	—	4,989
Accumulated amortization	(3,180)	(1,573)	(4,753)	(836)	—	(836)
Opening book value as of January 1	9,207	37,762	46,969	4,153	—	4,153
Additions (i)	11,365	—	11,365	7,398	39,335	46,733
Amortization of the year	(4,793)	(2,098)	(6,891)	(2,344)	(1,573)	(3,917)
Total as of December 31	15,779	35,664	51,443	9,207	37,762	46,969
Cost	23,752	39,335	63,087	12,387	39,335	51,722
Accumulated amortization	(7,973)	(3,671)	(11,644)	(3,180)	(1,573)	(4,753)

(i)

The additions of the year include USD 11,357 (USD 7,085 in 2021) related to capitalized salaries and wages.

(ii)

Acquired intangible assets comprises merchant agreements, as detailed in "Intangible Asset Acquisition" below.

At December 31, 2022 and 2021 no indicator of impairment related to intangible assets existed, so the Group did not perform an impairment test. See Note 2. 8: Intangible assets for accounting policies relevant to intangible assets and Note 2.9: Impairment of non-financial assets for policy regarding impairments.

Intangible Asset Acquisition

In addition, on March 11, 2021, with effective date April 1, 2021, dLocal signed a contract to acquire certain assets from Primeiropay S.A.R.L and PrimeiroPay Technology GmbH (“Primeiropay”) in accordance with the Transfer of a Going Concern Agreement (“the Agreement”) signed between the parties, for a consideration of USD 40.0 million, of which USD 1.33 million is contingent consideration (subject to the achievement of the “earn-out”) and USD 38.67 million was an immediate cash consideration, with an effective date of April 1, 2021. According to Management’s estimates, the fair value of the contingent consideration is USD 665 and was paid in July 2022.

Primeiropay is an international payment service provider that enables global merchants to receive payments from their customers located in emerging markets for the sale of goods or services and processes the payments locally in the emerging markets where the merchants’ consumers are located. After expatriating the funds Primeropay settles the payments in the jurisdiction and currency of preference of its merchants, generally in U.S. dollars. The asset acquisition is expected to increase the Group’s market share through the incorporation of new global merchants processing payments in emerging markets. Details of the purchase consideration are as follows:


Purchase consideration	USD
Cash paid		38,670
Contingent consideration at fair value		665
Total Purchase Consideration		39,335

The Group applied the concentration test detailed on Paragraph B7B of IFRS 3 – Business Combinations, to assess whether the acquired set of activities and assets were or not a business. The concentration test was met since substantially all the fair value of the gross assets acquired was concentrated in a group of similar identifiable assets (i.e. intangible assets related to merchant agreements) and the intellectual property that is attached to them. Consequently, the transaction was classified as an asset acquisition, outside of the scope of IFRS 3 (Paragraph 2b).

The contingent consideration was fully repaid on July 29, 2022.

Recognition of assets acquired

On April 1, 2021 the Group recognized the assets acquired (mainly merchant agreements) as a single intangible asset in accordance with IAS 38 – Intangible Assets. The Group estimated the amortization period for such single intangible asset to be 18.75 years.

Trade and Other Payables

12 Months Ended

Dec. 31, 2022

Disclosure of Trade and Other Payables [Line Items]

Trade and Other Payables

21.

Trade and Other Payables

Trade and Other Payables are composed of the following:


	2022		2021
Trade Payables		395,134		269,227
Accrued Liabilities		5,801		3,173
Other Payables		6,939		4,760
Total Trade and other payables		407,874		277,160

Trade and Other Payables are classified as current liabilities as the payment is due within one year or less. Moreover, the carrying amounts are considered to be the same as fair values, due to their short – term nature.

Trade Payables correspond to liabilities with Merchants, either related to payin transactions processed or payout transactions to be processed at their request. Accrued Liabilities mainly correspond to obligations with legal and tax advisors, and auditors. Other Payables mainly correspond to obligations related to processors’ costs and the acquisitions of office goods and services necessary for the ordinary course of the business.

Borrowings

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about borrowings [line items]

Borrowings

22.

Borrowings

During the year 2021, dLocal has received borrowings from a financial institution in Brazilian Reais (BRL) amounting to USD 5,000 (BRL 27 million) for working capital, with expiration date on April 19, 2022 and accruing interest at an annual fixed interest rate of 1.85%. The total outstanding as of December 31, 2021 amounts to USD 5,014 and is disclosed in the line "Borrowings".

On April 19, 2022, dLocal received two borrowings from a financial institution in Brazilian Reais (BRL 37.5 million each) amounting to a total of USD 14,782, with expiration date on January 16, 2023 and accruing interest at an annual variable interest rate equivalent to the Brazilian Interbank Deposit (Certificado de Depósito Interbancário, or “CDI”) rate plus 1.70% and 118.14% of the CDI, respectively.

As of December 31, 2022, the borrowings described above were fully repaid for a total of USD 21,567, including interests.

Tax Liabilities

12 Months Ended

Dec. 31, 2022

Income Taxes [Line Items]

Tax Liabilities

23.

Tax Liabilities

The tax liabilities breakdown is as follows:


	2022		2021
Income tax payable		6,047		1,940
Other tax liabilities		5,648		11,186
Income tax perception		2,792		7,490
Digital services withholding VAT		2,555		2,796
Other Taxes		301		900
Total Tax Liabilities		11,695		13,126

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2022

Derivative Financial Instruments [Abstract]

Derivative financial Instruments

24.

Derivative financial instruments

Derivative financial instruments: forward agreements

The Group enters into derivative financial instruments with the purpose of hedging the temporary trade receivables in local currencies against the US dollar to fix the exchange rate that was agreed to settle with the merchants.

During the year-ended December 31, 2022 and 2021, dLocal entered into short-term derivative contracts (delivery and non-delivery forwards) with different counterparties in different countries in which the Group operates, according to the following detail:


Transaction	Type of Forward Transaction	Local currency	Notional amount in USD as of December 31, 2022			Outstanding balance as of December 31, 2022 - Derivative financial liabilities			Notional amount in USD as of December 31, 2021		Outstanding balance as of December 31, 2021 - Derivative financial liabilities
Non-delivery forwards	Buy USD	Brazilian Reais		22,436,774			122			5,500,000		(152	)
Non-delivery forwards	Sell USD (1)	Brazilian Reais		(959,141	)		(15	)		—		—
Non-delivery forwards	Buy USD	Argentine Peso		6,600,000			(6	)		2,500,000		—
Delivery forwards	Buy USD	Chilean Peso		18,750,385			(250	)	12,391,928			(8	)
Delivery forwards	Buy USD	Uruguayan Peso		2,240,602			48			—		—
Non-delivery forwards	Buy USD	Egyptian Pound		12,979,395			1,002			—		—
Non-delivery forwards	Buy EUR	Moroccan Dirham		6,834,496			31			—		—
Non-delivery forwards	Buy USD	Nigerian naira		8,863,831			(15	)		—		—
Non-delivery forwards	Buy USD	Indian Rupee		5,920,282			2			1,000,000		(14	)
Non-delivery forwards	Sell USD (1)	Indian Rupee		(566,948	)		1			—		—
Non-delivery forwards	Buy USD	Southafrican Rand		5,176,642			(235	)		4,000,000		(47	)
Non-delivery forwards	Sell USD (1)	Southafrican Rand		(2,626,458	)		(11	)		—		—
Non-delivery forwards	Buy USD	Costa Rican Colon		159,000			(12	)		—		—
Total							662					(221	)

(1) The contracts to sell USD are entered into with the purpose of rebalancing and maintaining a hedge ratio that complies with the hedge effectiveness requirements.

During the year ended December 31, 2022, dLocal entered into hedge operations of trade and other receivables in Brazilian Reais, Argentine Peso, Chilean Peso, Uruguayan Peso, Egyptian Pound, Moroccan, Dirham, Nigerian Naira, Indian Rupee, South African Rand and Costa Rica Colon, subject to foreign exchange exposure using delivery and non-delivery forward contracts. The spot element of these forward transactions was elected for hedge accounting and classified as fair value hedge in accordance with IFRS 9. The Group has elected to designate only the spot element of these forward contracts as the hedging instrument, except for hedges of Uruguayan Peso and Chilean Peso. During the year ended December 31, 2022, dLocal recognized a net gain of USD 14,559 included in the line item "Costs of services" related to the effective portion of the change in the spot rate of the hedged currency (which offsets a foreign exchange loss of USD 14,832 included in the same line item) and a net loss of USD 18,763 included in the line item "Finance costs" related to the implicit interest rate.

During the last quarter of the year-ended December 31, 2021, dLocal entered into hedge operations of trade and other receivables in Chilean Peso subject to foreign exchange exposure using the delivery forward contracts. The transactions have been elected for hedge accounting and classified as fair value hedge in accordance with IFRS 9. During 2021, dLocal recognized a gain of USD 322 included in the line item "Costs of services".

Option to purchase common shares

As of the beginning of year-ended December 31, 2021, dLocal Limited had an option agreement in place with one shareholder (“Investor”), pursuant to which the Investor had outstanding options to purchase up to 18,068,000 common shares from certain existing shareholders, or by direct issuance of Company shares, which could be exercised by the Investor on or before December 16, 2021.

On March 3, 2021, the investor exercised the right to purchase 18,068,000 Class A Ordinary shares in dLocal Group Limited, by acquiring them from other existing shareholders, without being required the issuance of new shares by dLocal. In this sense, as of March 3, 2021 the obligations of dLocal under this agreement ceased.

Considering that as of December 31, 2020 the derivative financial instrument represented a liability for dLocal of USD 2,896, a gain for the same amount was recognized within Operating profit in the line item “Other operating gain/(loss)” in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2021.
.

Provisions

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Provisions [Line Items]

Provisions

25.

Provisions

(a)

Labor provisions

Provisions for the year are related to labor potential contingencies where the management understands, based on the Group’s internal legal advisors’ assessment, that it is more likely than not that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

(b)

Movements in labor provisions

Movements in Labor provisions are set out below:


Carrying amount as of January 1, 2021	1,393
Additional charge to labor provision	317
Carrying amount as of December 31, 2021	1,710
Reversal to labor provision	(419	)
Interest charges for labor provision	182
Carrying amount as of December 31, 2022	1,473

Other Contingent Assets, Liabilities and Commitments

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Contingent Assets Liabilities And Commitments [Line Items]

Other contingent assets, liabilities and commitments

26.

Other contingent assets, liabilities and commitments

As of December 31, 2022 and 2021, the Group had no outstanding contingent assets or liabilities, except for the labor contingencies detailed in Note 25: Provisions.

As of December 31, 2022 the Group had USD 43,814 of own funds and investments held in escrow and guarantees required by processors, credit cards and merchants, included within the line item “Other assets”. In 2022, some Merchants entered into standby letters of credit with banks that required the Group to maintain collateral in such banks. In addition, this line item also includes money held in a pledge account to collateralize overdrafts and pre-settlements. Finally, it also includes guarantees issued to processors and credit cards institutions. These agreements have short-term maturities.

As of December 31, 2021 the Group’s had cash in Banks as guarantees for USD 6,330 required by Merchants under the corresponding Payment Processing Service Agreements.

Offsetting Financial Assets and Financial Liabilities

12 Months Ended

Dec. 31, 2022

Disclosure Of Offsetting Of Financial Assets [Line Items]

Offsetting financial assets and financial liabilities

27.

Offsetting financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount is reported in the Consolidated Statement of Financial Position where the Group currently has a legally enforceable right to offset the recognized amounts, and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.

The following table presents the recognized financial instruments that are offset as at December 31, 2022 and 2021:


	Effects of offsetting on the Consolidated
	Statements of Financial Position
			Gross amounts			Net amounts
2022	Gross amounts		set off			presented
Financial assets	USD		USD			USD
Cash and cash equivalents		468,092		—			468,092
Financial assets at FVPL		1,295		—			1,295
Trade and other receivables		244,804		(4,358	)		240,446
Derivative financial instruments		1,206		—			1,206
Other assets		56,789		—			56,789
Total		772,186		(4,358	)		767,828
Financial liabilities
Trade and other payables		424,186		(16,312	)		407,874
Lease Liabilities		4,079		—			4,079
Derivative financial instruments		544		—			544
Total		428,809		(16,312	)		412,497

			Gross amounts			Net amounts
2021	Gross amounts		set off			presented
Financial assets	USD		USD			USD
Cash and cash equivalents		336,197		—			336,197
Financial assets at FVPL		1,004		—			1,004
Trade and other receivables		196,939		(5,973	)		190,966
Other assets		1,339		—			1,339
Total		535,479		(5,973	)		529,506
Financial liabilities
Trade and other payables		283,133		(5,973	)		277,160
Lease Liabilities		3,928		—			3,928
Financial liabilities		5,014		—			5,014
Derivative financial instruments		221		—			221
Total		292,296		(5,973	)		286,323

The gross amount set off presented above corresponds to trade receivables from fees that are offset from liabilities with Merchants considering that there is an enforceable legal right to offset and the Group expects to cancel such obligations on a net basis. Additionally, it should be noted that the Group does not have arrangements that do not meet the criteria for offsetting but still allow for the related amounts to be set off in the future.

Related parties

12 Months Ended

Dec. 31, 2022

Disclosure of Transactions Between Related Parties [Line Items]

Related parties

28.

Related parties

(a)

Related Party Transactions

In 2021 and 2020, related party transactions related to the options agreement are described in note 24 of these Consolidated Financial Statements.

(b)

Key Management compensation

The compensation of the Executive Team and Directors during the year can be breakdown as follows:


	2022		2021
Short-term employee benefits – Salaries and wages		1,767		1,900
Long-term employee benefits – Share-based payment		3,351		7,590
		5,118		9,490

(c)

Transactions with other related parties

The following transactions occurred with related parties:


	2022			2021
Transactions with merchants – Revenues		1,158			2,030
Transactions with preferred suppliers (Collection agents) – Costs		(621	)		(561	)
Transactions with other related parties – Costs		—			—

(d)

Outstanding balances arising from transactions with related parties

The following balances are outstanding at the end of the reporting period in relation to transactions with related parties:


	2022			2021
Balances with merchants – trade receivables		428			—
Balances with merchants – trade payables		(482	)		(622	)
Balances with preferred suppliers (Collection agents) – trade payables		(1,258	)		(125	)
Balances with preferred suppliers (Collection agents) – trade receivables		552			6,058

All transactions with related parties were made on normal commercial terms and conditions and at market rates. Outstanding balances are unsecured and are repayable in cash.

Cash Flow Disclosures

12 Months Ended

Dec. 31, 2022

Borrowings [Line Items]

Cash flow disclosures

29.

Cash flow disclosures

The most significant non-cash transaction is detailed below:


	2022			2021			2020
Right-of-use asset recognition with an increase in Lease liabilities		(328	)		(3,915	)		(188	)

Net cash/(debt) reconciliation:

This section sets out an analysis of net cash/(debt) and the movements in net debt for each of the periods presented.


	2022			2021			2020
Cash and cash equivalents		468,092			336,197			111,733
Financial assets at fair value through profit or loss		1,295			1,004			8,319
Borrowings		—			(5,014	)		—
Lease liabilities		(4,079	)		(3,928	)		(218	)
Derivative financial instrument		(544	)		(221	)		(2,896	)
Net cash/(debt)		464,764			328,038			116,938
Cash and liquid investments		469,387			337,201			120,052
Gross debt – fixed interest rates		(4,623	)		(9,163	)		(3,114	)
Net cash/(debt)		464,764			328,038			116,938

According to the IAS 7, the movements in the debt of the year that impact on the cash flow as part of the financing activities are detailed below:


	Interest Bearing Borrowings	Lease liabilities	Derivative financial instrument	Sub-total	Cash & Cash Equivalents	Financial Assets at FVPL	Total
Net cash/(debt) as of December 31, 2019	—	(399)	—	(399)	34,765	15,399	49,765
Cash flows	—	151	—	151	76,968	(7,532)	69,587
Fair value changes	—	—	(2,896)	(2,896)	—	9	(2,887)
Lease benefit for
COVID-19	—	50	—	50	—	—	50
Other Changes	—	(20)	—	(20)	—	443	423
Net cash/(debt) as of December 31, 2020	—	(218)	(2,896)	(3,114)	111,733	8,319	116,938
Cash flows	(5,000)	572	—	(4,428)	224,464	(10,076)	209,960
Fair value changes	—	—	2,675	2,675	—	2,761	5,436
New leases	—	(4,282)	—	(4,282)	—	—	(4,282)
Other Changes	(14)	—	—	(14)	—	—	(14)
Net cash/(debt) as of December 31, 2021	(5,014)	(3,928)	(221)	(9,163)	336,197	1,004	328,038
Cash flows	6,785	177	221	7,183	113,781	327	121,291
Fair value changes	—	—	(544)	(544)	18,114	(36)	17,534
New leases	—	(328)	—	(328)	—	—	(328)
Other Changes	(1,771)	—	—	(1,771)	—	—	(1,771)
Net cash/(debt) as of December 31, 2022	—	(4,079)	(544)	(4,623)	468,092	1,295	464,764

Financial Risk Management

12 Months Ended

Dec. 31, 2022

Financial Risk Management [Line Items]

Financial risk management

30.

Financial risk management

(a)

Risk Management Framework

The Group’s activities may expose it to a variety of financial risks: credit risk, market risk (including foreign exchange risk, cash flow or fair value interest rate risk, and equity price risk), liquidity risk and fraud risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance.

The Board of Directors (the “Board) has overall responsibility for the establishment and oversight of the Group’s risk management objectives and policies.

The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. The overall objective of the Board is to set policies that seek to reduce risk as much as possible without unduly affecting the Group’s competitiveness and flexibility. Further details of these policies are set out below:

(b)

Credit Risk

Credit risk is the risk that customer or a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. Credit risk arises from the group’s exposures to third parties, including cash and cash equivalents, financial instruments and from its operating activities, primarily related to trade and other receivables.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the end of the year was as follows:


	2022		2021
Cash and Cash Equivalents		468,092		336,197
Financial Assets at Fair Value through Profit or Loss		1,295		1,004
Trade and Other Receivables		240,446		190,966
Derivative Financial Instrument		1,206		—
Other Assets		56,789		1,339
		767,828		529,506

The table below discloses the credit risk rating for Trade and Other Receivables, based on external risk ratings of the geographical regions in which the Trade and Other Receivables are held:


Risk rating	2022		2021
A		18,880		20,839
AA		2,213		—
B		11,043		4,041
BB		137,286		103,322
BBB		29,161		26,960
CCC		41,863		35,804
		240,446		190,966

Financial Assets at Fair Value through profit or loss and cash and cash equivalents

Credit risk from balances with banks, financial institutions and other is managed by the Group in accordance with the Group’s policy. These financial instruments are debt securities and other financial instruments only conducted with carefully selected financial institutions in order to have an exposure to credit risk within acceptance levels of the Group.

Trade and Other Receivables

The Company operates with high-quality processors which mitigates credit risk. There are no significant concentrations of credit risk, whether through exposure to individual customers, specific industry sectors and/or regions.

The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade and other receivables. To measure the expected credit losses, trade and other receivables have been grouped based on shared credit risk characteristics and the days past due. Finally, historical loss experience is adjusted to reflect information about current conditions and reasonable and bearable forecasts of future economic conditions.

The expected loss rates are based on the payment profiles of sales, country of origin and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The Group has identified the credit rating of the countries in which it sells its services to be the most relevant factor, and accordingly adjusts the historical loss rates based on expected changes in credit ratings.

(c)

Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. For the Group, market risk may comprise interest rate risk and foreign currency risk and other price risk, such as equity price risk.

The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

Interest Rate Risk

This risk arises from the possibility of the Group incurring losses due to fluctuations in interest rates in respect of fair value of future cash flows of a financial instrument. The Group’s cash flows are not exposed to interest rate risk since there are no financial instruments with variable interest rate and debt instruments are measured at fair value through profit and loss.

Foreign Currency Risk

The Group is exposed to currency risk on monetary amounts denominated in a currency other than the functional currency of the respective subsidiaries, which is mainly comprised by:

•

Trade receivables and trade payables in local currencies in the payments provider entities, mainly in Brazilian Real, Egyptian Pound, Indian Rupee, Chilean Peso, Nigerian Naira, Euro and Argentine peso.

•

Cash and cash equivalents and trade receivables in U.S. Dollar in the collection agents in Latin America, Asia and Africa.

The following table presents the Group’s exposure to foreign currency risk as well as a sensitivity to a reasonably possible change in U.S. Dollar, with all other variables held constant. The impact on the Group’s profit before tax is due to changes in the fair value of monetary assets and liabilities.


2022			Gain/(loss)
Account	Currency	Amount	% increase	Amount	% decrease	Amount
Net balances	United States dollar	47,162	10%	(4,716)	-10%	4,716
	Brazilian real	27,841	10%	(2,784)	-10%	2,784
	Indian rupee	16,530	10%	(1,653)	-10%	1,653
	Egyptian pound	16,243	10%	(1,624)	-10%	1,624
	Argentine peso	12,863	10%	(1,286)	-10%	1,286
	Chilean peso	12,457	10%	(1,246)	-10%	1,246
	Nigerian naira	12,403	10%	(1,240)	-10%	1,240
	Moroccan dirham	11,136	10%	(1,114)	-10%	1,114
	Euro	8,033	10%	(803)	-10%	803
	South African rand	5,494	10%	(549)	-10%	549
	Peruvian sol	4,363	10%	(436)	-10%	436
	Uruguayan peso	4,017	10%	(402)	-10%	402
	Colombian peso	3,763	10%	(376)	-10%	376
	Mexican peso	3,701	10%	(370)	-10%	370
	Saudi riyal	2,318	10%	(232)	-10%	232
	Vietnamese đồng	2,032	10%	(203)	-10%	203
	Philippine peso	1,992	10%	(199)	-10%	199
	Panamanian balboa	1,734	10%	(173)	-10%	173
	Malaysian ringgit	1,666	10%	(167)	-10%	167
	Pakistani rupee	1,439	10%	(144)	-10%	144
	Indonesian rupiah	1,143	10%	(114)	-10%	114
	Costa Rican colon	1,131	10%	(113)	-10%	113
	Chinese Yuan	948	10%	(95)	-10%	95
	Egytptian pound	827	10%	(83)	-10%	83
	Kenyan shilling	700	10%	(70)	-10%	70
	Paraguayan guaraní	676	10%	(68)	-10%	68
	Boliviano	273	10%	(27)	-10%	27
	Guatemalan quetzal	259	10%	(26)	-10%	26
	Thai baht	95	10%	(10)	-10%	10
	Honduran Lempira	60	10%	(6)	-10%	6
	Ghanaian cedi	48	10%	(5)	-10%	5
	Ugandan shilling	39	10%	(4)	-10%	4
	Algerian dinar	24	10%	(2)	-10%	2
	Nicaraguan córdoba	18	10%	(2)	-10%	2
	Turkish lira	17	10%	(2)	-10%	2
	West African CFA franc	7	10%	(1)	-10%	1
	Pound sterling	3	10%	(0)	-10%	0
	Jordanian dinar	1	10%	(0)	-10%	0
	Czech koruna	—	10%	—	-10%	—
	Mexican peso	(8)	10%	1	-10%	(1)
	Bangladeshi taka	(39)	10%	4	-10%	(4)
	Israeli new shekel	(168)	10%	17	-10%	(17)
	Total	203,241		(20,324)		20,324


2021				Gain/(loss)
Account	Currency	Amount		% increase	Amount			% decrease		Amount
Net balances	Brazilian reais		39,017	10%		(3,902	)	-10%			3,902
	Chilean pesos		23,195	10%		(2,320	)	-10%			2,320
	Argentine pesos		22,206	10%		(2,221	)	-10%			2,221
	Mexican pesos		15,048	10%		(1,503	)	-10%			1,503
	South African rand		7,515	10%		(752	)	-10%			752
	Indonesian rupiah		4,370	10%		(437	)	-10%			437
	Peruvian Nuevo Sol		4,021	10%		(402	)	-10%			402
	Colombian pesos		4,010	10%		(401	)	-10%			401
	Euros		3,563	10%		(356	)	-10%			356
	Uruguayan pesos		3,323	10%		(332	)	-10%			332
	Nigerian nairas		2,295	10%		(230	)	-10%			230
	Egyptian pounds		562	10%		(56	)	-10%			56
	Paraguayan guaranís		200	10%		(20	)	-10%			20
	Dominican pesos		127	10%		(13	)	-10%			13
	Pakistanee rupees		113	10%		(11	)	-10%			11
	Bangladeshi takas		38	10%		(4	)	-10%			4
	Moroccan dirhams		9	10%		(1	)	-10%			1
	Total		129,612			(12,961	)		-		12,961

Exposure is presented in thousands of U.S. Dollars and relates to monetary items in foreign currency of each entity of the Group, considering each individual functional currency. As explained in Note 24: Derivative financial instruments, the Company entered into foreign currency exchange forward contracts in order to mitigate this risk and reduce the impact on the financial statements.

Equity price risk

As at December 31, 2022 and 2021, the Group had an investment in quoted debt securities and mutual funds. As at December 31, 2022 and 2021, the exposure to equity price from such investment was considered not material.

(d)

Liquidity Risk

Liquidity risk is the risk that the Group encounters difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation.

The Group invests surplus cash in interest-bearing financial investments, choosing instruments with appropriate maturity or enough liquidity to provide adequate margin as determined by the forecasts.

Exposure to Liquidity Risk

The tables below analyze the Group’s financial liabilities into relevant maturity groupings based on their contractual maturities.

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.


Contractual maturities of financial liabilities 31 December 2022	Less than 6 months		6-12 months		Between 1 and 2 years		More than 2 years		Total contractual cash flows		Carrying amount
Non-derivatives
Trade and other payables		407,874		—		—		—		407,874		407,874
Leases liabilities		296		394		546		3,628		4,864		4,079
Total non-derivatives		408,170		394		546		3,628		412,738		411,953
Derivatives
Derivative financial instruments		544		—		—		—		544		544
Total derivatives		544		—		—		—		544		544


Contractual maturities of financial liabilities 31 December 2021	Less than 6 months		6-12 months		Between 1 and 2 years		More than 2 years		Total contractual cash flows		Carrying amount
Non-derivatives
Trade and other payables		277,160		—		—		—		277,160		277,160
Financial liabilities		5,014		—		—		—		5,014		5,014
Leases liabilities		204		299		462		3,878		4,843		3,928
Total non-derivatives		282,378		299		462		3,878		287,017		286,102
Derivatives
Derivative financial instruments		221		—		—		—		221		221
Total derivatives		221		—		—		—		221		221

(e)

Fraud Risk

The Group’s transactions are susceptible to a fraudulent or improper sale and it uses processes to control the fraud risk. The process consists of monitoring transactions through ‘dLocal Defense’ which is a local data-driven prevention program to maximize fraud detection and minimize false positives. This process reviews transactions at the time of the authorization, legitimates them and uses of external tools that are revised on a periodic basis.

The second process detects chargebacks and disputes. This is a supplemental process and increases the Group’s ability to avoid fraud.

(f)

Capital Management

The Board’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board’s objectives are to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Board of Directors monitors the return on capital as well as the level of dividends to ordinary shareholders.

As part of the requirements for maintaining its financial institution license, dLocal Limited, the Group’s licensee subsidiary is subject to a minimum capital requirement of EUR 400 thousands imposed by the regulator of Malta.

Fair Value Hierarchy

12 Months Ended

Dec. 31, 2022

Disclosure Of Fair Value Measurement [Line Items]

Fair Value Hierarchy

31.

Fair value hierarchy

The following tables show financial instruments recognized at fair value for the years ended December 31, 2022 and 2021, analyzed between those whose fair value is based on:

•

Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.

•

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.

•

Level 3: techniques which use inputs which have a significant. effect on the recorded fair value that are not based upon observable market data.

The table also includes financial instruments measured at amortized cost. The Group understands that the book value of such instruments approximates their fair value.


December 31, 2022	FVPL		Amortized cost		Total		Level 1		Level 2		Level 3
Assets
Financial Assets at Fair Value through Profit or Loss		1,295		—		1,295		1,295		—		—
Other Assets		—		56,789		56,789		—		—		—
Trade and Other Receivables		—		240,446		240,446		—		—		—
Derivative financial instruments (1)		1,206		—		1,206		—		1,206		—
Cash and Cash Equivalents		—		468,092		468,092		—		—		—
		2,501		765,327		767,828		1,295		1,206		—


December 31, 2021	FVPL		Amortized cost		Total		Level 1		Level 2		Level 3
Assets
Financial Assets at Fair Value through Profit or Loss		1,004		—		1,004		1,004		—		—
Other Assets		—		1,339		1,339		—		—		—
Trade and Other Receivables		—		190,966		190,966		—		—		—
Cash and Cash Equivalents		—		336,197		336,197		—		—		—
		1,004		528,502		529,506		1,004		—		—


December 31, 2022	FVPL			Amortized cost			Total			Level 1		Level 2			Level 3
Liabilities
Trade and Other Payables		—			(407,874	)		(407,874	)		—		—			—
Derivative financial instruments (1)		(544	)		—			(544	)		—		(544	)		—
Lease Liabilities		—			(4,079	)		(4,079	)		—		—			—
		(544	)		(411,953	)		(412,497	)		—		(544	)		—


December 31, 2021	FVPL			Amortized cost			Total			Level 1		Level 2			Level 3
Liabilities
Trade and Other Payables		—			(277,160	)		(277,160	)		—		—			—
Financial liabilities		—			(5,014	)		(5,014	)		—		—			—
Derivative financial instruments (1)		(221	)		—			(221	)		—		(221	)		—
Lease Liabilities		—			(3,928	)		(3,928	)		—		—			—
Contingent consideration liability		(665	)					(665	)		—		—			(665	)
		(886	)		(286,102	)		(286,988	)		—		(221	)		(665	)

(1) The most frequently applied valuation techniques include forward pricing models. The models incorporate various inputs including: foreign exchange spot, interest rates curves of the respective currencies and the terms of the contract.

Level 3 Financial Instruments

As of December 31, 2021, the Group has recognized a contingent consideration liability, described in Note 20, amounting to USD 665, classified in Level 3. The amount of the Level 3 contingent consideration was calculated by the finance team of the Group, using a discounted cash flow analysis, considering the expected cash flows based on terms of the contract, the entity’s knowledge of the business and how the current conditions are likely to impact it. As of December 31, 2022, the contingent consideration liability was fully repaid.

There were no changes in level 3 items for the years ended December 31, 2022 and 2021. Also, there were no transfer of items between level 2 and level 3, acquisitions, disposals nor gains or losses recognized in profit for the period related to level 3 instruments.

Subsequent Events

12 Months Ended

Dec. 31, 2022

Disclosure of non-adjusting events after reporting period [abstract]

Subsequent Events

32.

Subsequent events

Repurchase of shares

Until the date of issuance of these consolidated financial statements, the Company has repurchased 2,652,211 Class A common shares for a total amount of USD 41,336, pursuant to the share buyback program described in note 1.3.e).

Class action lawsuits

On February 23 and February 28, 2023, respectively, DLocal Limited was named, along with several of its senior executives and/or directors, as defendant in certain putative class action lawsuits filed in the Supreme Court of the State of New York, New York County, asserting claims under Sections 11, 12, and 15 of the Securities Act of 1933 based in significant part on the short-seller report mentioned in note 1.3.e). These matters, captioned Zappia et al. v. DLocal Limited et al., Index No. 151778/2023 (Sup. Ct. N.Y. Cty.), and Hunt et al. v. DLocal Limited et al., Index No. 651058/2023 (Sup. Ct. N.Y. Cty.), allege, among other things, that the registration statement for our June 2021 initial public offering reflected certain material misstatements or omissions.

On March 3, 2023, plaintiffs in the two Actions filed a stipulation and proposed order consolidating the cases and appointing putative lead counsel, which application remains pending. The parties are in the process of discussing a proposed schedule for a likely consolidated amended complaint and responses thereto.

Due to the preliminary posture of the Actions as of the date of issuance of these consolidated financial statements, the Company is unable to evaluate the likelihood of an adverse outcome or estimate a range of potential losses. DLocal Limited intends to defend itself vigorously in these actions.

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Disclosure of initial application of standards or interpretations [abstract]

Basis of preparation of the consolidated financial statements

2.1. Basis of preparation of the Consolidated Financial Statements

These Consolidated Financial Statements as of December 31, 2022, were approved by dLocal’s Board of Directors on April 4, 2023.

Basis of consolidation

2.2. Basis of consolidation

Business combinations

The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss.

There were no significant business combinations during 2022 and 2021.

Subsidiaries

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

Foreign currencies

2.3. Foreign currencies

i) Functional and presentation currency

ii) Transactions and balances

iii) Argentine operations

iv) Group companies

•

Assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statements of financial position

•

Income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates, and

•

All resulting exchange differences are recognized in other comprehensive income.

The results and financial position of foreign operations whose functional currency is the currency of a hyperinflationary economy are translated into the presentation currency as follows:

•

All amounts (i.e. assets, liabilities, equity items, income and expenses) are translated at the closing rate at the date of the most recent statement of financial position.

The following is the detail of the exchange rates of the main currencies used by the Group compared to the USD in the year ended December 31, 2022 and 2021:


	Average rate				Year-end spot rate
	2022		2021		Dec 31, 2022		Dec 31, 2021
Argentina (ARS/USD)		132.1		94.9		176.7		102.6
Brazil (BRL/USD)		5.2		5.4		5.3		5.6
Chile (CLP/USD)		872.3		758.5		851.1		850.3
Colombia (COP/USD)		4,273.1		3,741.8		4,852.5		3,981.2
Costa Rica (CRC/USD)		642.7		634.6		593.2		639.1
Dominican Republic (DOP/USD)		55.0		56.8		56.2		57.1
Ecuador (USD/USD)		1.0		1.0		1.0		1.0
Egypt (EGP/USD)		19.3		15.7		24.7		15.8
Guatemala (GTQ/USD)		7.8		7.7		7.8		7.7
India (IRN/USD)		78.8		72.2		82.7		74.3
Indonesia (IDR/USD)		14,880.2		14,308.3		15,568.0		14,241.5
Israel (NIS/USD)		3.4		3.1		3.5		3.0
Malaysia (MYR/USD)		4.5		4.1		4.4		4.2
Malta (EUR/USD)		0.9		0.8		0.9		0.8
Mexico (MXN/USD)		20.1		20.5		19.5		20.3
Morocco (MAD/USD)		10.2		9.2		10.4		9.2
Nigeria (NGN/USD)		427.2		414.7		460.8		414.6
Panama (USD/USD)		1.0		1.0		1.0		1.0
Paraguay (PYG/USD)		7,007.8		6,863.8		7,247.8		6,815.8
Peru (PEN/USD)		3.8		4.0		3.8		3.9
Singapore (SGD/USD)		1.4		1.3		1.3		1.4
South Africa (ZAR/USD)		16.4		14.8		17.0		15.9
Uruguay (UYU/USD)		41.1		44.7		39.9		43.6

Cash and cash equivalents

2.4. Cash and cash equivalents

Financial instruments - initial recognition and subsequent measurement

2.5. Financial instruments - initial recognition and subsequent measurement

i) Financial assets

Initial recognition and measurement

Subsequent measurement

Financial assets at amortized cost

Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are measured at fair value at the end of each reporting period, with any fair value gains or losses recognised in profit or loss.

The Group’s financial assets at fair value through profit or loss as of December 31, 2022 and 2021 include derivative financial instruments and investment in quoted debt securities.

Financial assets at fair value through OCI

Financial assets designated at fair value through OCI (equity instruments)

Derecognition

A financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets, is derecognized when:

•

The rights to receive cash flows from the asset expire; or

•

The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that dLocal Group has retained.

ii) Impairment of financial assets

iii) Financial liabilities

Initial recognition and measurement

All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs.

Subsequent measurement

The subsequent measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Gains and losses on held-for-trading liabilities are recognized in the statement of comprehensive income.

The Group’s financial liabilities at fair value through profit or loss as of December 31, 2022 and 2021 include derivative financial instruments and contingent consideration liability.

Financial liabilities at amortized cost

The book value of trade payables approximates their fair value due to their short-term nature.

Derecognition

iv) Derivative financial instruments

v) Fair value of financial instruments

The Group measures its financial assets at fair value through profit or loss at fair value at each reporting date.

•

In the principal market for the asset or liability; or

•

In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Group.

•

Level 1 - quoted (unadjusted) prices in active markets for identical assets or liabilities;

•

Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

•

Level 3 - techniques using inputs that have a significant effect on the recorded fair value that are not based on observable market data.

vi) Current versus non-current classification

vii) Financial instruments-offsetting

Current and deferred income tax

2.6. Current and deferred income tax

Current and deferred income tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income.

Current income tax

The Group offsets current tax assets and current tax liabilities against the same tax authority when it has a legally enforceable right to set off current tax assets against current tax liabilities.

Deferred income tax

Deferred income tax assets and liabilities are recognized for all temporary taxable differences, except in the following situations:

•

Temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; and

•

Temporary differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future.

Property, plant and equipment

2.7. Property, plant and equipment


Computer Equipment	3 years


Building Improvements	10 years

An item of property, plant and equipment is derecognized upon disposal or when future economic benefits are expected from its use or disposal.

Intangible assets

2.8. Intangible assets

The expenses capitalized are only related to the development phase and are capitalized only if the Group can demonstrate the following:

•

The technological feasibility of completing the intangible asset so that it will be available for use or sale.

•

Its intention to complete the intangible asset and use or sell it.

•

Its ability to use or sell the intangible asset.

•

How the intangible asset will generate probable future economic benefits.

•

The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.

•

Its ability to measure reliably the expenditure attributable to the intangible asset during its development.

Other development expenditures that do not meet the capitalization criteria are expensed as incurred.

Impairment of non-financial assets

2.9. Impairment of non-financial assets

The Group did not record an impairment for non-financial assets during 2022, 2021 and 2020.

Provisions

2.10. Provisions

Share-based payment and warrants

2.11. Share-based payments and warrants

2.11.1. General description - Share-based payments

The total expense is recognized over the vesting period using a graded attribution model, which is the period over which all of the specified vesting conditions are to be satisfied.

When the options are exercised, dLocal issues the shares to the employee. The proceeds received, net of any directly attributable transaction costs, are credited directly to equity.

2.11.2. General description - Warrants

The Warrant limits the Merchant’s beneficial ownership to 4.999% of the outstanding ordinary shares unless the Merchant waives this limit upon 61 days’ notice.

On September 2, 2021, the holder of the warrant exercised part of the ordinary shares, as described in Note 2.11.4.

2.11.3. Employee Share Purchase Plan

Under the Group‘s ESPP certain employees can purchase shares subject to a payment defined in their Share Award Agreement.

Set out below are summaries of restricted stock units and share options granted under the plan:


	2022					2021 *
	Average					Average
	exercise price		Number of			exercise price		Number of
	(U.S. Dollars)		options and RSUs			(U.S. Dollars)		options and RSUs
At the beginning of the year		1.16		4,032,345			1.22		17,361,000
Granted during the year		18.90		1,474,463			3.69		2,371,345
Exercised during the year		3.45		(1,136,375	)		2.03		(15,685,000	)
Forfeited during the year		10.31		(835,872	)		4.15		(15,000	)
At the end of the year		8.30		3,534,561			1.16		4,032,345
Vested and exercisable at the end of the year		4.06		347,788			3.54		486,750

No options expired during the periods covered in the above table.

Share options and restricted stock units outstanding at the end of the year have the following vesting dates and exercise prices:


Grant date	Vesting period	Last vesting date	Exercise price (U.S. Dollars per A Share)		Share options and RSUs December 31, 2022			Share options and RSUs December 31, 2021
August 1st, 2018	3 years	August 1st, 2021		0.74		—			90,500
October 1st, 2019	3 years	October 1st, 2022		2.18		—			90,000
August 24th, 2020	5 years	August 24th, 2025		3.30		700,000			835,000
November 15th, 2020	4 years	November 15th, 2024		4.15		87,750			135,000
November 23rd, 2020	5 years	November 23rd, 2025		3.88		—			525,500
January 1st, 2021	5 years	January 1st, 2026		3.88		132,000			210,000
March 1st, 2021	1 year	March 1st, 2022		0.002		5,500	*	5,500		*
March 2nd, 2021	5 years	March 2nd, 2026		7.44		8,000			10,000
March 11th, 2021	5 years	March 11th, 2026		0.002		725,375	*	1,031,000		*
March 11th, 2021	5 years	March 11th, 2026		7.44		28,000			36,000
March 12nd, 2021	5 years	March 12nd, 2026		7.44		—			7,000
March 15th, 2021	5 years	March 15th, 2026		7.44		—			7,500
March 29th, 2021	5 years	March 29th, 2026		7.44		—			10,000
May 11th, 2021	5 years	May 11th, 2026		7.44		453,500			927,500
May 11th, 2021	3 years	May 11th, 2024		0.002		22,500	*	22,500		*
May 18th, 2021	5 years	May 18th, 2026		16.17		10,000			10,000
December 9th, 2021	5 years	December 9th, 2026		0.002		69,235	*		79,345	*
February 21st, 2022	5 years	February 21st, 2027		0.002		6,930	*		—
March 16th, 2022	5 years	March 16th, 2027		30.47		20,000			—
March 28th, 2022	5 years	March 28th, 2027		30.27		55,256			—
April 1st, 2022	5 years	April 1st, 2027		0.002		4,886	*		—
May 1st, 2022	5 years	May 1st, 2027		0.002		57,665	*		—
May 1st, 2022	5 years	May 1st, 2027		26.01		240,000			—
May 18th, 2022	5 years	May 18th, 2027		19.72		160,000			—
May 26th, 2022	5 years	May 26th, 2027		21.02		20,000			—
July 1st, 2022	6 years	July 1st, 2028		26.70		88,500			—
July 1st, 2022	3 years	July 1st, 2025		0.002		13,428	*		—
August 15th, 2022	5 years	August 15th, 2027		0.002		20,000	*		—
August 15th, 2022	5 years	August 15th, 2027		29.23		206,250			—
September 1st, 2022	5 years	September 1st, 2027		0.002		2,213	*		—
September 5th, 2022	5 years	September 5th, 2027		0.002		937	*		—
September 6th, 2022	5 years	September 6th, 2027		26.51		30,000			—
October 1st, 2022	5 years	October 1st, 2027		0.002		2,586	*		—
October 3rd, 2022	5 years	October 3rd, 2027		0.002		4,379	*		—
October 17th, 2022	5 years	October 17th, 2027		0.002		2,805	*		—
October 17th, 2022	5 years	October 17th, 2027		21.39		50,000			—
December 9th, 2022	5 years	December 9th, 2027		0.002		306,866	*		—
Total						3,534,561			4,032,345

Weighted average remaining contractual life of restricted stock units and share options outstanding at end of the year					3.61 years			4.24 years


*	Corresponds to Restricted Stock Units granted

2.11.4. Warrant agreement

Set out below is a summary of the warrants granted:


	2022				2021
	Average				Average
	exercise price				exercise price
	per share				per share
	warrant		Number of		warrant		Number of
	(U.S. Dollars)		warrants		(U.S. Dollars)		warrants
As of January 1		0.57		15,213,587		0.57		17,345,000
Exercised during the year		—		—		0.57		(2,131,413	)
As of December 31		0.57		15,213,587		0.57		15,213,587
Vested and exercisable at December 31		0.57		15,213,587		0.57		15,213,587

No warrants expired during the periods covered by the above table.

All warrants expire on January 1, 2026.

Leases and right of use assets

2.12. Leases and right of use assets

Short-term Leases

The Group has signed lease contracts of one year or less in the following countries: Malta, Israel, Brazil, China, Chile, Colombia, India, Singapore, and Argentina.

In all these markets there are available suitable alternatives since the offices do not require special infrastructure and there are low costs of returning the assets.

Long-term Leases

dLocal Technologies SA (Uruguay) signed on February 15, 2018 a 4-year contract to lease Unit 507 (347,99 m2) of WTC Free Zone in Uruguay.

This contract established the following payments structure (all amounts in thousands):

•

USD 0,140 monthly during the first year

•

USD 0,153 monthly during the second year

•

USD 0,171 monthly during the third year

•

USD 0,175 monthly during the fourth year

The term of 4 years can be extended for periods of 5 years, unless any of the parties informs the other of its decision to terminate with at least 120 days anticipation of the expiry date.

On June 9, 2022, Dlocal Opco UK Ltd. signed a 2-year contract to lease an office in London.

This contract establishes the following payments structure:

•

GBP 12,800 (USD 16) per month + Value Added Tax (“VAT”).

•

GBP 3,399.68 (USD 4) + VAT discount from September 2022 to February 2024.

•

Additional non-refundable fees of GBP 540 (USD 1) + VAT.

On each anniversary of the start date for the office, the membership fee will be subject to an automatic three and a half percent (3.5%) increase over the then current Membership Fee.

The term of 2 years can be extended for 1-month terms unless the Company terminates the agreement.

For subsequent periods the treatment of leases that do not apply for the short-term exception is as follows:

•

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

•

fixed payments (including in-substance fixed payments), less any lease incentives receivable

•

variable lease payment that are based on an index or a rate, initially measured using the index or rate as of the commencement date

•

amounts expected to be payable by the Group under residual value guarantees

•

the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and

•

payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.

•

Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.

•

To determine the incremental borrowing rate, the Group:

•

Right-of-use assets are measured at cost comprising the following:

•

the amount of the initial measurement of lease liability

•

any lease payments made at or before the commencement date less any lease incentives received

•

any initial direct costs, and

•

restoration costs.

•

Equity

2.13. Equity

Ordinary shares are classified as equity and incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

dLocal calculates and presents basic and diluted earnings per share (“EPS”) information for its ordinary shares. The calculation of earnings per share is the following:

•

Basic EPS: results from de division of

a. Profit for the year attributable to shareholders, by

b. the weighted average number of outstanding ordinary shares outstanding during the period.

•

a. Profit for the year attributable to shareholders, by

b. the weighted average number of outstanding ordinary shares outstanding during the period, adjusted by dilutive effects.

Repurchase of shares represent the shares of the Company that are held in treasury. Own shares are recorded at cost and deducted from equity.

Revenue

2.14. Revenue

dLocal provides payment processing services to merchants as follows:

•

dLocal contracts with service providers for the authorization, processing and settlement services performed by payment schemes networks and card issuers.

•

dLocal is not responsible for the credit risk or the chargebacks risk of the cardholder (i.e., the merchant customer). The merchant is responsible for the credit checks.

dLocal’s service offering comprises a single performance obligation to complete payments via its platform for merchants and their customers.

The Group applies the following five steps:

Identification of the contract with a client (i.e., merchant).

Identification of the performance obligations in the contract.

Determination of the transaction price.

Allocation of the transaction price to the performance obligations in the contract.

Recognition of revenue when or as the entity satisfies a performance obligation.

dLocal performs two types of transactions:

•

Changes in the classification of revenues


	For the year ended December 31, 2021			For the year ended December 31, 2020
	As previously reported	Reclassification	As reclassified	As previously reported	Reclassification	As reclassified
Transaction revenues	234,417	7,397	241,814	98,490	4,999	103,489
Other revenues	9,703	(7,397)	2,306	5,653	(4,999)	654
Revenues from payment processing	244,120	—	244,120	104,143	—	104,143

Revenue from contracts with merchants comprises:

Transaction revenues

•

The Group bears primary responsibility to merchants for the fulfillment of the payment service.

•

The Group contracts directly with merchants and there is no contractual relationship between merchants and payment processors (i.e., the service providers).

•

The Group has independently negotiated arrangements with payment processors.

•

The established fees are independent of the costs incurred from payment processors and the Group, therefore, has full margin risk for each transaction.

•

Transaction revenues are recognized as revenue at a point in time when an authorized payment transaction is processed.

Transaction revenues are those that are directly related to the volume of payments processes in dollars or in quantity of transactions.

Transaction revenues are comprised by:

•

Processing fees: based on a percentage or fixed fee per approved transaction.

•

Installment fees: corresponds to the fee applied to those transactions created with installments, and can be applied to the merchant or to the end users.

•

Foreign Exchange Fees: in cross-border transactions, a spread is applied to the exchange rate used for the currency conversion and can be based on a percentage or fixed fee.

•

Other transactional fees: mainly corresponds to fees charged for each chargeback and refunds dLocal has to manage and dispute, and other transactional fees.

Other revenues

New accounting pronouncements

2.15. New accounting pronouncements

The qualitative impact assessment of the first-time application on January 1, 2022 of new amendments is disclosed below:

Effective for Periods beginning on or after January l, 2022

Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16

Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37

Annual Improvements to IFRS Standards 2018-2020

The following improvements were finalized in May 2020:

•

IFRS 9 Financial Instruments – clarifies which fees should be included in the 10% test for derecognition of financial liabilities.

•

Reference to the Conceptual Framework – Amendments to IFRS 3

New accounting pronouncements

The Company has not applied the following new and revised IFRSs that have been issued but are not yet mandatorily effective:

Amendments to IAS 1 - Classification of Liabilities as Current or Non-current

Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies

Amendments to IAS 8 - Definition of Accounting Estimates

Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction

Amendments to IFRS 16 - Lease Liability in a Sale and Leaseback

Amendments to IAS 1 - Non-current Liabilities with Covenants

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]

Schedule of Exchange Rate of Currencies

The following is the detail of the exchange rates of the main currencies used by the Group compared to the USD in the year ended December 31, 2022 and 2021:


	Average rate				Year-end spot rate
	2022		2021		Dec 31, 2022		Dec 31, 2021
Argentina (ARS/USD)		132.1		94.9		176.7		102.6
Brazil (BRL/USD)		5.2		5.4		5.3		5.6
Chile (CLP/USD)		872.3		758.5		851.1		850.3
Colombia (COP/USD)		4,273.1		3,741.8		4,852.5		3,981.2
Costa Rica (CRC/USD)		642.7		634.6		593.2		639.1
Dominican Republic (DOP/USD)		55.0		56.8		56.2		57.1
Ecuador (USD/USD)		1.0		1.0		1.0		1.0
Egypt (EGP/USD)		19.3		15.7		24.7		15.8
Guatemala (GTQ/USD)		7.8		7.7		7.8		7.7
India (IRN/USD)		78.8		72.2		82.7		74.3
Indonesia (IDR/USD)		14,880.2		14,308.3		15,568.0		14,241.5
Israel (NIS/USD)		3.4		3.1		3.5		3.0
Malaysia (MYR/USD)		4.5		4.1		4.4		4.2
Malta (EUR/USD)		0.9		0.8		0.9		0.8
Mexico (MXN/USD)		20.1		20.5		19.5		20.3
Morocco (MAD/USD)		10.2		9.2		10.4		9.2
Nigeria (NGN/USD)		427.2		414.7		460.8		414.6
Panama (USD/USD)		1.0		1.0		1.0		1.0
Paraguay (PYG/USD)		7,007.8		6,863.8		7,247.8		6,815.8
Peru (PEN/USD)		3.8		4.0		3.8		3.9
Singapore (SGD/USD)		1.4		1.3		1.3		1.4
South Africa (ZAR/USD)		16.4		14.8		17.0		15.9
Uruguay (UYU/USD)		41.1		44.7		39.9		43.6

Summary of Depreciation Is Calculated on a Straight-Line Basis Over the Estimated Useful Lives


Computer Equipment	3 years


Building Improvements	10 years

Summary of Options Granted Under the Plan

Set out below are summaries of restricted stock units and share options granted under the plan:


	2022					2021 *
	Average					Average
	exercise price		Number of			exercise price		Number of
	(U.S. Dollars)		options and RSUs			(U.S. Dollars)		options and RSUs
At the beginning of the year		1.16		4,032,345			1.22		17,361,000
Granted during the year		18.90		1,474,463			3.69		2,371,345
Exercised during the year		3.45		(1,136,375	)		2.03		(15,685,000	)
Forfeited during the year		10.31		(835,872	)		4.15		(15,000	)
At the end of the year		8.30		3,534,561			1.16		4,032,345
Vested and exercisable at the end of the year		4.06		347,788			3.54		486,750

Summary of Share Options and Restricted Stock Units Outstanding

Share options and restricted stock units outstanding at the end of the year have the following vesting dates and exercise prices:


Grant date	Vesting period	Last vesting date	Exercise price (U.S. Dollars per A Share)		Share options and RSUs December 31, 2022			Share options and RSUs December 31, 2021
August 1st, 2018	3 years	August 1st, 2021		0.74		—			90,500
October 1st, 2019	3 years	October 1st, 2022		2.18		—			90,000
August 24th, 2020	5 years	August 24th, 2025		3.30		700,000			835,000
November 15th, 2020	4 years	November 15th, 2024		4.15		87,750			135,000
November 23rd, 2020	5 years	November 23rd, 2025		3.88		—			525,500
January 1st, 2021	5 years	January 1st, 2026		3.88		132,000			210,000
March 1st, 2021	1 year	March 1st, 2022		0.002		5,500	*	5,500		*
March 2nd, 2021	5 years	March 2nd, 2026		7.44		8,000			10,000
March 11th, 2021	5 years	March 11th, 2026		0.002		725,375	*	1,031,000		*
March 11th, 2021	5 years	March 11th, 2026		7.44		28,000			36,000
March 12nd, 2021	5 years	March 12nd, 2026		7.44		—			7,000
March 15th, 2021	5 years	March 15th, 2026		7.44		—			7,500
March 29th, 2021	5 years	March 29th, 2026		7.44		—			10,000
May 11th, 2021	5 years	May 11th, 2026		7.44		453,500			927,500
May 11th, 2021	3 years	May 11th, 2024		0.002		22,500	*	22,500		*
May 18th, 2021	5 years	May 18th, 2026		16.17		10,000			10,000
December 9th, 2021	5 years	December 9th, 2026		0.002		69,235	*		79,345	*
February 21st, 2022	5 years	February 21st, 2027		0.002		6,930	*		—
March 16th, 2022	5 years	March 16th, 2027		30.47		20,000			—
March 28th, 2022	5 years	March 28th, 2027		30.27		55,256			—
April 1st, 2022	5 years	April 1st, 2027		0.002		4,886	*		—
May 1st, 2022	5 years	May 1st, 2027		0.002		57,665	*		—
May 1st, 2022	5 years	May 1st, 2027		26.01		240,000			—
May 18th, 2022	5 years	May 18th, 2027		19.72		160,000			—
May 26th, 2022	5 years	May 26th, 2027		21.02		20,000			—
July 1st, 2022	6 years	July 1st, 2028		26.70		88,500			—
July 1st, 2022	3 years	July 1st, 2025		0.002		13,428	*		—
August 15th, 2022	5 years	August 15th, 2027		0.002		20,000	*		—
August 15th, 2022	5 years	August 15th, 2027		29.23		206,250			—
September 1st, 2022	5 years	September 1st, 2027		0.002		2,213	*		—
September 5th, 2022	5 years	September 5th, 2027		0.002		937	*		—
September 6th, 2022	5 years	September 6th, 2027		26.51		30,000			—
October 1st, 2022	5 years	October 1st, 2027		0.002		2,586	*		—
October 3rd, 2022	5 years	October 3rd, 2027		0.002		4,379	*		—
October 17th, 2022	5 years	October 17th, 2027		0.002		2,805	*		—
October 17th, 2022	5 years	October 17th, 2027		21.39		50,000			—
December 9th, 2022	5 years	December 9th, 2027		0.002		306,866	*		—
Total						3,534,561			4,032,345

Weighted average remaining contractual life of restricted stock units and share options outstanding at end of the year					3.61 years			4.24 years


*	Corresponds to Restricted Stock Units granted

Summary of the Warrants Granted

Set out below is a summary of the warrants granted:


	2022				2021
	Average				Average
	exercise price				exercise price
	per share				per share
	warrant		Number of		warrant		Number of
	(U.S. Dollars)		warrants		(U.S. Dollars)		warrants
As of January 1		0.57		15,213,587		0.57		17,345,000
Exercised during the year		—		—		0.57		(2,131,413	)
As of December 31		0.57		15,213,587		0.57		15,213,587
Vested and exercisable at December 31		0.57		15,213,587		0.57		15,213,587

Summary of Revenues from Payment Processing


	For the year ended December 31, 2021			For the year ended December 31, 2020
	As previously reported	Reclassification	As reclassified	As previously reported	Reclassification	As reclassified
Transaction revenues	234,417	7,397	241,814	98,490	4,999	103,489
Other revenues	9,703	(7,397)	2,306	5,653	(4,999)	654
Revenues from payment processing	244,120	—	244,120	104,143	—	104,143

Consolidation of subsidiaries (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of subsidiaries [abstract]

Summary of Consolidated Financial Statements of Group include the Subsidiaries

The Consolidated Financial Statements of the Group include the following subsidiaries, each of which serves a different vertical or a specific service according to the needs of the Group:


			% of equity interest held by Dlocal
Entity name	Country of incorporation	Principal activities	2022		2021
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)	-
Dlocal LLP	United Kingdom	Payments provider	99.999%		99.999%
Dlocal Corp LLP	United Kingdom	Payments provider	99.99%		99.99%
Dlocal OpCo UK LTD	United Kingdom	Payments provider	100%	(3)	-
Dlocal Inc.	United States of America	Holding Company	100%		100%
Dlocal Technologies S.A.	Uruguay	Service provider	100%		100%
Dlocal Uruguay S.A.	Uruguay	Collection agent	100%		100%
Dlocal PTE Limited	Singapore	Holding Company	100%		100%
Dlocal Argentina S.A.	Argentina	Collection agent	100%		100%
Demerge Argentina 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)	-
DLocal Bangladesh Limited	Bangladesh	Collection agent	100%		100%
Demerge Bolivia S.R.L.	Bolivia	Collection agent	100%	(3)	-
Dlocal Brasil Holding Financeira	Brazil	Holding Company	100%		100%
Dlocal Brasil Instituição de Pagamento S.A.	Brazil	Collection agent	100%		100%
Demerge Brasil Facilitadora de Pagamentos Ltda.	Brazil	Collection agent	100%		100%
Webpay Brasil Pagamentos Ltda.	Brazil	Collection agent	100%	(3)	-
Demerge Cameroun SARL	Cameroon	Collection agent	100%	(3)	-
Dlocal Chile SPA	Chile	Collection agent	100%		100%
Demerge Chile SPA	Chile	Collection agent	100%		100%
Pagos y Servicios Limitada	Chile	Collection agent	99%		100%
FCA Chile 2 Spa	Chile	Collection agent	100%	(3)	-
Dlocal Colombia S.A.S.	Colombia	Collection agent	100%		100%
Demerge Colombia S.A.S.	Colombia	Collection agent	100%		100%
W-Collect S.A.S.	Colombia	Collection agent	-	(4)	100%
BH Collect S.A.S.	Colombia	Collection agent	-	(4)	100%
Kupa Colombia S.A.S.	Colombia	Collection agent	100%	(3)	-
Dlocal Costa Rica SRL	Costa Rica	Collection agent	100%	(3)	-
Demerege Ecuador S.A. (1)	Ecuador	Collection agent	100%		0.15%
Dlocal Egypt LLC	Egypt	Collection agent	100%		100%
Dlocal El Salvador S.A de C.V.	El Salvador	Collection agent	100%	(3)	-
dLocal Ghana Limited Company	Ghana	Collection agent	100%	(3)	-
Demerge Guatemala S.A.	Guatemala	Collection agent	100%	(3)	-
Dlocal Honduras S.A.	Honduras	Collection agent	100%	(3)	-
Depansum Solutions Private Limited	India	Collection agent	99%		99%
Dlocal India Pvt Limited	India	Collection agent	99.99%		99.99%
Guisol Solutions Private Limited	India	Collection agent	100%	(3)	-
PT Dlocal Solutions Indonesia	Indonesia	Collection agent	100%		100%
Dlocal Israel Limited	Israel	Service provider	100%		100%
Dlocal SARL	Ivory Coast	Collection agent	100%	(3)	-
Demerge Japan Ltd	Japan	Collection agent	66.6%	(3)	-
Dlocal Payments Kenya Limited	Kenya	Collection agent	100%	(3)	-
Depansum Malaysia SDN. BHD.	Malaysia	Collection agent	100.0%	(3)	-
Demerge Mexico S.A. de C.V.	Mexico	Collection agent	99.999%		99.999%
Dlocal Mexico S.A. DE C.V.	Mexico	Collection agent	99.999%		99.999%
Dlocal Technologies Mexico S.A. DE C.V.	Mexico	Service provider	100%		100%
DLocal Morocco SARL AU	Morocco	Collection agent	100%		100%
Demerge Nigeria Limited	Nigeria	Collection agent	100%		100%
Dlocal Panama S.A.	Panama	Collection agent	100%		100%
Dlocal Paraguay S.A.	Paraguay	Collection agent	100%		100%
Demerge Peru S.A.C.	Peru	Collection agent	99%		99%
Depansum Perú S.A.C	Peru	Collection agent	100%	(3)	-
Dlocal Payments Philippines Incorporated	Philippines	Collection agent	100%	(3)	-
Demerge República Dominicana SAS	Dominican Republic	Collection agent	99.99%		99.99%
Dlocal Rwanda Ltd.	Rwanda	Collection agent	100%	(3)	-
Depansum PTY Limited	South Africa	Collection agent	100%		100%
DLP South Africa PTY Ltd.	South Africa	Collection agent	100%	(3)	-
Dlocal Tanzania LTD	Tanzania	Collection agent	100%	(3)	-
Demerge (Thailand) Co. LTD (2)	Thailand	Collection agent	49%	(3)	-
Dlocal Uganda LTD	Uganda	Collection agent	100%	(3)	-
Dlocal Payment Services L.L.C.	United Arab Emirates	Collection agent	100%	(3)	-
Dlocal US LLC	United States of America	Service provider	100%	(3)	-
CILFUR S.A.	Uruguay	Service provider	100%	(3)	-
Maubek S.A.	Uruguay	Service provider	100%	(3)	-
Harpot S.A.	Uruguay	Collection agent	100%	(3)	-
Dlocal Vietnam Company Limited	Vietnam	Collection agent	100%	(3)	-


(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)	The subsidiary was liquidated during 2022.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Operating Segments [Line Items]

Summary of Group Reconciles Segment Performance Measure to Profit

The Group reconciles the segment’s performance measure to profit for the year as presented in the Consolidated Statement of Comprehensive Income as follows:


	Note	December 31, 2022			December 31, 2021			December 31, 2020
Profit for the year (i)			108,697			77,853			28,187
Income tax expense	12		11,586			7,647			3,231
Inflation adjustment	11		1,037			334			(38	)
Finance income	11		(18,078	)		(2,540	)		(502	)
Finance costs	11		24,668			544			67
Other operating (gain) / loss	24		697			(2,896	)		2,896
Impairment loss / (gain) on financial assets (ii)	16, 17		5,534			33			(808	)
Depreciation and amortization	10		8,147			4,747			992
Secondary offering expenses (iii)	8		89			5,158			453
Transaction costs (iv)	8		—			687			158
Other non-recurring costs (v)	8		2,014			—			—
Share-based payment non-cash charges, net of forfeitures	13		8,684			7,590			7,295
Adjusted EBITDA			153,075			99,157			41,931

Revenues	6		418,925			244,120			104,143
Adjusted EBITDA			153,075			99,157			41,931
Adjusted EBITDA Margin			36.5	%		40.6	%		40.3	%
Profit Margin			25.9	%		31.9	%		27.1	%

(i)

(ii)

USD 5.6 million corresponds to deposits in FTX Trading Ltd. (see note 17.iii).

(iii)

Corresponds to expenses incurred by dLocal in relation to a secondary offering of its shares occurred in 2021.

(iv)

Summary of Payments from/to Such Customers


	2022		YoY%			2021		YoY%			2020
LatAm		345,360		54.5	%		223,602		140.1	%		93,124
Brazil		84,025		40.8	%		59,698		268.8	%		16,185
Argentina		77,577		54.6	%		50,165		51.2	%		33,179
Mexico		68,000		103.7	%		33,376		150.3	%		13,337
Chile		52,464		43.7	%		36,497		163.8	%		13,834
Other countries		63,294		44.3	%		43,866		164.4	%		16,589
Asia and Africa		73,565		258.5	%		20,518		86.2	%		11,019
Revenues 1		418,925		71.6	%		244,120		134.4	%		104,143

During the years ended December 31, 2022, 2021 and 2020, the Group had no revenues from customers attributed to the entity’s country of domicile.

Revenues and Cost of Services (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Revenues and Cost of Services [Line Items]

Breakdown of Revenue From Contracts With Customers Per Type of Service

The breakdown of revenue from contracts with customers per type of service is as follows:


	2022			2021			2020
Transaction revenues (i)		415,444			241,814			103,489
Other revenues (ii)		3,481			2,306			654
Revenues from payment processing (iii)		418,925			244,120			104,143
Cost of services		(216,758	)		(113,677	)		(44,065	)
Gross profit		202,167			130,443			60,078

(i)

(ii)

Other revenues are mainly comprised of minor fees, such as initial setup fees, maintenance fees, minimum monthly fees, and small transfer fees.

(iii)

In 2022 revenues include an amortization charge of USD 567 (USD 200 and USD 67 for 2021 and 2020, respectively) related to prepaid assets, as detailed in Note 17: Other assets.

Summary of Cost of Services

Cost of services are composed of the following:


	2022		2021		2020
Processing costs (i)		206,223		107,276		41,655
Hosting expenses (ii)		4,331		3,351		1,257
Salaries and wages (iii)		1,411		706		497
Amortization of intangible assets (iv)		4,793		2,344		656
Cost of services		216,758		113,677		44,065

(i)

(ii)

Expenses related to hosting services for the Group’ s payment platform.

(iii)

Consist of salaries and wages of the operations department directly involved in the day-to-day operations. For further detail refer to Note 9: Employee Benefits.

(iv)

Technology and Development Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]

Summary of Technology and Development Expenses

Technology and development expenses are composed of the following:


	2022		2021		2020
Salaries and wages (i)		2,969		1,381		1,072
Software licenses (ii)		1,294		487		292
Infrastructure expenses (iii)		1,496		792		298
Information and technology security expenses (iv)		298		176		161
Other technology expenses		291		550		182
Total Technology and development expenses		6,348		3,386		2,005

(i)

(ii)

Consist of software licenses exclusively used by the technology development department for the development of the platform.

(iii)

Corresponds to information technology costs to support our infrastructure and back-office operations.

(iv)

Comprises expenses of overall monitoring and security of our network and platform.

Sales and Marketing Expenses and General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Material income and expense [abstract]

Summary of Sales and Marketing Expenses and General and Administrative Expenses

Sales and marketing expenses and General and administrative expenses are composed of the following:


Sales and marketing expenses	2022		2021		2020
Salaries and wages (i)		10,800		5,126		2,518
Marketing expenses (ii)		2,535		790		334
Total Sales and marketing expenses		13,335		5,916		2,852


General and administrative expenses	2022		2021		2020
Salaries and wages (iii)		24,697		20,827		14,009
Third-party services (iv)		12,431		12,632		3,615
Office expenses (v)		3,106		2,445		1,325
Travel and other operating expenses		4,755		2,330		2,903
Amortization and depreciation (vi)		3,354		2,403		336
Total General and administrative expenses		48,343		40,637		22,188

(i)

Salaries and wages related to FTE’s engaged in the Sales and marketing department of the Group. For further detail on total salaries and wages refer to Note 9: Employee Benefits.

(ii)

(iii)

Salaries and wages related to administrative FTE’ s. For further detail on total salaries and wages refer to Note 9: Employee Benefits.

(iv)

(v)

Consist of office rent and related expenses.

(vi)

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Defined Benefit Plans [Line Items]

Summary of Employee Benefits

Employee benefits is composed of the following:


	2022		2021		2020
Salaries, wages and contractor fees (i)		42,550		27,535		13,785
Share-based payments (ii)		8,684		7,590		7,295
Total employee benefits		51,234		35,125		21,080

(i)

(ii)

The share-based payments relate to equity-settled compensation expenses. For further information refer to Note 2.11: Share-based payments and warrants.

Amortization and Depreciation (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Transactions Between Related Parties [Line Items]

Summary of Amortization and Depreciation Expenses

Amortization and depreciation expenses are composed of the following:


	2022		2021		2020
Amortization of intangible assets		6,891		3,917		656
Right-of-use asset amortization		518		453		181
Depreciation of Property, plant & equipment		738		377		155
Total Amortization and Depreciation		8,147		4,747		992

Other Results (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Results [Line Items]

Summery of Other Results

Other results is composed of the following categories:


	2022			2021			2020
Interest Income from Financial Instruments (i)		18,114			2,556			443
Fair value (losses)/gains of financial assets at FVPL (i)		(36	)		(16	)		9
Other finance income (ii)		-			-			50
Finance income		18,078			2,540			502

	2022			2021			2020
Finance expense related to derivative financial instruments (iii)		(18,763	)		-			-
Other finance expenses (iv)		(5,728	)		(402	)		(47	)
Interest charges for lease liabilities (v)		(177	)		(142	)		(20	)
Finance costs		(24,668	)		(544	)		(67	)
Inflation adjustment (vi)		(1,037	)		(334	)		38
Other results		(7,627	)		1,662			473

(i)

(ii)

During 2020, due to the effects of the COVID-19 pandemic the Group agreed with the lessor of the office at WTC Free Zone to have an exoneration of three-monthly installments that amounted to USD 50.

(iii)

(iv)

Mainly corresponds to interest charges for borrowings, foreign exchange loss and other interests.

(v)

Interest charges for lease liabilities correspond to the application of IFRS 16 Leases. For further information refer to Note 19: Leases.

(vi)

Income Tax (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Income Taxes [Line Items]

Summary of Charge for Current Taxation Income Tax Rates on Taxable Profit

The charge for current taxation is calculated at the following income tax rates on the taxable profit for the year for the various countries in which the Group operates:


Malta	5%	(a)	Israel	23%
Cayman Islands	0%		Mexico	30%
United Kingdom	0% and 19%	(b)	India	22%
Brazil	34%	(c)	Chile	27% and 10%	(e)
Colombia	35%		Peru	29.5%
Argentina	25%, 30% and 35%	(d)	Morocco	10%, 20% and 31%	(f)
Ecuador	25%		Egypt	22.5%
Uruguay	25%		South Africa	28%
Panama	25%		Nigeria	30%
Paraguay	10%		Indonesia	22%
Guatemala	5% and 7%		Honduras	25%
Nicaragua	30%		Philippines	20%
Rwanda	30%		Singapore	17%
Kenya	30%		Malaysia	24%
Tanzania	30%		Thailand	20%
Uganda	30%		United Arab Emirates	0%
United States of America	21%		Vietnam	20%
Ivory Coast	25%		Japan	35%
El Salvador	25%		Ghana	25%
Bangladesh	32.5%		Cameroon	33%
Dominican Republic	27%		Costa Rica	30%

(b) Dlocal LLP and Dlocal Corp LLP are tax transparent UK partnerships subject to 0% income tax, and Dlocal OpCo UK LTD

is subject to a tax rate of 19%.

(c) Composed of IRPJ (Imposto de Renda de Pessoa Juridica) at the rate of 25% and CSLL (Contribuição Social sobre o Lucro Liquido) at the rate of 9%.

(d) Progressive rates: 25%, 30% and 35% depending on the tax result.

(e) General tax rate: 27%. Specific rate applicable to Propyme 10%.

(f) Progressive rates: 10%, 20% and 31% depending on the tax result.

Summary of Income Tax Charge Recognized in Profit and Losses

The income tax charge recognized in profit and losses is the following:


Current Income Tax	2022			2021			2020
Current Income Tax on profits for the year		(11,682	)		(6,940	)		(3,172	)
Total Current Income Tax expense		(11,682	)		(6,940	)		(3,172	)

Deferred income tax	2022			2021			2020
Increase/(decrease) in deferred income tax assets		229			(83	)		200
Increase in deferred income tax liabilities		(133	)		(624	)		(259	)
Total Deferred income tax benefit / (expense)		96			(707	)		(59	)
Income Tax expense		(11,586	)		(7,647	)		(3,231	)

Summary of Deferred Tax Assets / Liabilities

Deferred Tax Assets

The balance comprises temporary differences attributable to:


	2022		2021		2020
Tax Losses		348		31		98
Accrued Liabilities		99		318		79
Exchange differences		—		—		14
Other		51		24		25
Total		498		373		216

Deferred Tax Liabilities

The balance comprises temporary differences attributable to:


	2022		2021		2020
Accrued receivables		946		900		259
Other		206		223		—
Total		1,152		1,123		259

Summary of Movements in Deferred Tax Assets

Movements:


	Tax losses			Accrued liabilities			Exchange differences			Other		Total
At January 1, 2022		31			316			—			26		373
Credited / (charged) to profit & loss		317			(217	)		0			25		125
At December 31, 2022		348			99			—			51		498

	Tax losses			Accrued liabilities			Exchange differences			Other		Total
At January 1, 2021		98			79			14			25		216
(Charged) / credited to profit & loss		(67	)		237			(14	)		1		157
At December 31, 2021		31			316			—			26		373

Summary of Movements in Deferred Tax Liabilities

Movements:


	Accrued Liabilities		Other			Total
At January 1, 2022		900		223			1,123
Credited / (charged) to profit & loss		46		(17	)		29
At December 31, 2022		946		206			1,152

At January 1, 2021		259		—			259
Credited to profit & loss		641		223			864
At December 31, 2021		900		223			1,123

Summary of Reconciliation of Effective Tax Rate


	2022			2021			2020
Profit before Income Tax		120,283			85,500			31,418
Tax at the domestic rates applicable to profit before income tax in the respective jurisdiction		(6,014	)		(4,275	)		(4,718	)
Permanent differences:
Tax effect of non-taxable income		555			3,369			8,489
Tax effect on income tax refund on dividends		—			—			(2,197	)
Effect from entities taxes in different rates		(5,440	)		(3,127	)		(4,254	)
Other permanent differences (1)		(687	)		(3,614	)		(551	)
Total Income Tax Expense		(11,586	)		(7,647	)		(3,231	)

Capital Management (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Classes Of Share Capital [Line Items]

Summary of Authorized Shares, Issued and Fully Paid-up Shares

Authorized shares, as well as issued and fully paid-up shares, are presented below:


	2022		2021
	Amount	USD	Amount	USD
Authorized Shares of USD 0.002 USD each
Class A common shares	1,000,000,000	2,000	1,000,000,000	2,000
Class B common shares	250,000,000	500	250,000,000	500
Undesignated shares	250,000,000	500	250,000,000	500
	1,500,000,000	3,000	1,500,000,000	3,000
Issued and Fully Paid Up Shares of USD 0.002 each
Class A Common Shares	161,975,678	324	160,974,249	298
Class B Common Shares	134,054,192	268	134,054,192	292
	296,029,870	592	295,028,441	590
Share Capital evolution
Share Capital as of January 1	295,028,441	590	268,598,000	602
i) Issue of common shares at USD 0.002	1,136,375	2	19,906,000	45
ii) Par value change	—	—	—	(70)
iii) Issue of common shares at the IPO	—	—	4,411,765	9
iv) Warrant exercise	—	—	2,112,676	4
v) Repurchase of shares	(134,946)	—	—	—
Share capital as of December 31	296,029,870	592	295,028,441	590


	2022			2021
Share Premium as of January 1		157,151			—
i) Issue of common shares at USD 0.002		9,177			70,111
ii) Par value change		—			70
iii) Issue of common shares at the IPO		—			86,441
iv) Warrant exercise		—			529
v) Repurchase of shares		(2,021	)		—
Share Premium as of December 31		164,307			157,151

Summary of Breakdown of Capital Reserves and Movements in Reserves

The following table shows a breakdown of the Consolidated Statement of Financial Position line item ‘Capital Reserves’ and the movements in this reserve during the year:


	2022			2021			2020
Balances as of January 1		12,741			12,582			5,287
Share-options exercise (i)		(5,240	)		(6,898	)		—
Share-based payments charges (ii)		9,580			7,596			7,295
Forfeitures (ii)		(896	)		(6	)		—
Warrant exercise		—			(533	)		—
Balance as of December 31		16,185			12,741			12,582

(ii) In the year-ended December 31, 2022, it includes the net expense related to the modification in the agreement of a former officer of the Company.

Summary of Breakdown of Reserves and Movements in Reserves

The following table shows a breakdown of the Consolidated Statement of Financial Position line item ‘Other Reserves’ and the movements in these reserves during the year:


	2022			2021			2020
	Cumulative Translation Adjustment			Cumulative Translation Adjustment			Cumulative Translation Adjustment
Balances as of January 1		(30	)		119			14
Movement of other reserves		(1,418	)		(149	)		105
Balance as of December 31		(1,448	)		(30	)		119

Summary of Movements in Retained Earnings

Movements in retained earnings were as follows:


Balance as of January 1, 2020	18,460
Comprehensive income for the year	28,126
Transaction between shareholders	163
Distribution of retained earnings	(15,000	)
Balance as of December 31, 2020	31,749
Comprehensive income for the year	78,118
Balance as of December 31, 2021	109,867
Comprehensive income for the year	110,126
Balance as of December 31, 2022	219,993

Summary of the Information Used as Base for Calculating Diluted Earnings Per Share

The next table presents the information used as base for such calculation:


	2022		2021		2020
Profit attributable to common shareholders (U.S. Dollars)		108,682,969		77,875,575		28,183,840
Weighted average number of common shares		295,623,702		287,121,304		268,598,000
Adjustments for calculation of diluted earnings per share(1)		17,514,944		21,809,000		16,242,000
Weighted average number of common shares for calculating diluted earnings per share		313,138,646		308,930,304		284,840,000
Basic earnings per share		0.37		0.27		0.10
Diluted earnings per share		0.35		0.25		0.10

(1)

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of cash and cash equivalents [line items]

Summary of Cash and Cash Equivalents

Cash and cash equivalents breakdown is presented below:


	2022		2021
Own Balances		247,833		227,913
Merchant Clients Funds		220,259		108,284
		468,092		336,197

Financial Assets at Fair Value Through Profit or Loss (Tables)

12 Months Ended

Dec. 31, 2022

Financial Assets At Fair Value Through Profit Or Loss [Line Items]

Summary of Financial Assets

Financial assets include the following:


	2022		2021
Debt instruments		1,295		1,004
		1,295		1,004

Summary of (losses) gain recognized in profit or loss

During the year, the following (losses)/gain were recognized in profit or loss:


	2022			2021			2020
Fair Value Movement transferred to profit and loss		(36	)		(16	)		9
At End of Year		(36	)		(16	)		9

Trade and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2022

Trade and Other Receivables [Line Items]

Summary of Trade and Other Receivables

Trade and Other Receivables of the Group are composed of the following:


	2022			2021
Trade receivables		218,922			179,199
Loss allowance		(280	)		(322	)
Trade receivables net		218,642			178,877
Advances and other receivables		21,804			12,089
		240,446			190,966

Summary of Loss Allowance and Impairment Losses

The following table presents the evolution of the loss allowance:


	2022			2021
Opening book value as of January 1		(322	)		(341	)
Decrease/(increase) in loss allowance for trade receivables		42			(33	)
Reversals for decrease in loss rate		—			52
Total as of December 31		(280	)		(322	)
Net impairment gain/(loss) on financial assets		42			(33	)

Other Assets (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]

Summary of Other Assets

Other assets are composed of the following:


Current	2022			2021
Money held in escrow and guarantees due to: (i)		43,814			211
-Stand by credit letters required by merchants		18,575			—
-Banks requirements		19,988			—
-Processors and others requirements		1,688			80
-Credit card requirements		3,563			131
Advance payments to merchants		12,863			—
Rental guarantees		112			561
Prepaid assets (ii)		—			567
Deposits in brokers(iii)		5,576			—
Loss allowance(iii)		(5,576	)		—
Total current Other Assets		56,789			1,339

(i)

(ii)

(iii)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Property Plant And Equipment [Line Items]

Summary of Property, Plant and Equipment

Property, Plant and Equipment of the Group correspond to computer equipment and building improvements that are stated at cost less accumulated depreciation.


	2022			2021
	Computer Equipment	Building improvements	Total	Computer Equipment	Building improvements	Work in Progress	Total
Cost	1,823	1,257	3,080	645	—	486	1,131
Accumulated depreciation	(553)	(42)	(595)	(218)	—	—	(218)
Opening book value, January 1	1,270	1,215	2,485	427	—	486	913
Additions	987	—	987	1,178	—	771	1,949
Transfers	—	—	—	—	1,257	(1,257)	—
Depreciation of the year	(562)	(176)	(738)	(335)	(42)	—	(377)
Total as of December 31	1,695	1,039	2,734	1,270	1,215	—	2,485
Cost	2,810	1,257	4,067	1,823	1,257	—	3,080
Accumulated depreciation	(1,115)	(218)	(1,333)	(553)	(42)	—	(595)

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Leases [Line Items]

Summary of Lease Amounts Recognized in Consolidated Statements of Financial Position

Amounts recognized in the Consolidated Statements of Financial Position


	2022		2021
Right-of-use assets
Offices		3,934		3,915
		3,934		3,915

	2022		2021
Lease liabilities
Current		686		502
Non-current		3,393		3,426
		4,079		3,928

Summary of Lease Amounts Recognized in Consolidated Statements of Comprehensive Income

The Consolidated Statements of Comprehensive Income shows the following amounts relating to leases:


	2022		2021
Amortization of right-of-use assets
Offices		518		453
		518		453
Interest charges for lease liabilities (included within Finance Costs line item)		177		142
Leases expense for short-term leases (included within General and administrative expense line item)		332		173

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Intangible Assets [Line Items]

Schedule of Detailed Information About Intangible Assets

The following table provides information about each class of intangible assets held by the Group as of December 31, 2022 and 2021. Intangible assets are stated at cost less accumulated amortization:


	2022			2021
At January 1,	Internally generated software	Acquired intangible assets (ii)	Total	Internally generated software	Acquired intangible assets (ii)	Total
Cost	12,387	39,335	51,722	4,989	—	4,989
Accumulated amortization	(3,180)	(1,573)	(4,753)	(836)	—	(836)
Opening book value as of January 1	9,207	37,762	46,969	4,153	—	4,153
Additions (i)	11,365	—	11,365	7,398	39,335	46,733
Amortization of the year	(4,793)	(2,098)	(6,891)	(2,344)	(1,573)	(3,917)
Total as of December 31	15,779	35,664	51,443	9,207	37,762	46,969
Cost	23,752	39,335	63,087	12,387	39,335	51,722
Accumulated amortization	(7,973)	(3,671)	(11,644)	(3,180)	(1,573)	(4,753)

(i)

The additions of the year include USD 11,357 (USD 7,085 in 2021) related to capitalized salaries and wages.

(ii)

Acquired intangible assets comprises merchant agreements, as detailed in "Intangible Asset Acquisition" below.

Summary of Purchase Consideration

Details of the purchase consideration are as follows:


Purchase consideration	USD
Cash paid		38,670
Contingent consideration at fair value		665
Total Purchase Consideration		39,335

Trade and Other Payables (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Trade and Other Payables [Line Items]

Summary of Trade and Other Payables

Trade and Other Payables are composed of the following:


	2022		2021
Trade Payables		395,134		269,227
Accrued Liabilities		5,801		3,173
Other Payables		6,939		4,760
Total Trade and other payables		407,874		277,160

Tax Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Tax Liabilities [Abstract]

Summary of Tax Liabilities

The tax liabilities breakdown is as follows:


	2022		2021
Income tax payable		6,047		1,940
Other tax liabilities		5,648		11,186
Income tax perception		2,792		7,490
Digital services withholding VAT		2,555		2,796
Other Taxes		301		900
Total Tax Liabilities		11,695		13,126

Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Financial Instruments [Abstract]

Summary of Short-term Derivative Contracts


Transaction	Type of Forward Transaction	Local currency	Notional amount in USD as of December 31, 2022			Outstanding balance as of December 31, 2022 - Derivative financial liabilities			Notional amount in USD as of December 31, 2021		Outstanding balance as of December 31, 2021 - Derivative financial liabilities
Non-delivery forwards	Buy USD	Brazilian Reais		22,436,774			122			5,500,000		(152	)
Non-delivery forwards	Sell USD (1)	Brazilian Reais		(959,141	)		(15	)		—		—
Non-delivery forwards	Buy USD	Argentine Peso		6,600,000			(6	)		2,500,000		—
Delivery forwards	Buy USD	Chilean Peso		18,750,385			(250	)	12,391,928			(8	)
Delivery forwards	Buy USD	Uruguayan Peso		2,240,602			48			—		—
Non-delivery forwards	Buy USD	Egyptian Pound		12,979,395			1,002			—		—
Non-delivery forwards	Buy EUR	Moroccan Dirham		6,834,496			31			—		—
Non-delivery forwards	Buy USD	Nigerian naira		8,863,831			(15	)		—		—
Non-delivery forwards	Buy USD	Indian Rupee		5,920,282			2			1,000,000		(14	)
Non-delivery forwards	Sell USD (1)	Indian Rupee		(566,948	)		1			—		—
Non-delivery forwards	Buy USD	Southafrican Rand		5,176,642			(235	)		4,000,000		(47	)
Non-delivery forwards	Sell USD (1)	Southafrican Rand		(2,626,458	)		(11	)		—		—
Non-delivery forwards	Buy USD	Costa Rican Colon		159,000			(12	)		—		—
Total							662					(221	)

(1) The contracts to sell USD are entered into with the purpose of rebalancing and maintaining a hedge ratio that complies with the hedge effectiveness requirements.

Provisions (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Provisions [Line Items]

Summary of Movements in Labor Provisions

Movements in Labor provisions are set out below:


Carrying amount as of January 1, 2021	1,393
Additional charge to labor provision	317
Carrying amount as of December 31, 2021	1,710
Reversal to labor provision	(419	)
Interest charges for labor provision	182
Carrying amount as of December 31, 2022	1,473

Offsetting Financial Assets and Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Offsetting Of Financial Assets [Line Items]

Summary of Recognized Financial Instruments

The following table presents the recognized financial instruments that are offset as at December 31, 2022 and 2021:


	Effects of offsetting on the Consolidated
	Statements of Financial Position
			Gross amounts			Net amounts
2022	Gross amounts		set off			presented
Financial assets	USD		USD			USD
Cash and cash equivalents		468,092		—			468,092
Financial assets at FVPL		1,295		—			1,295
Trade and other receivables		244,804		(4,358	)		240,446
Derivative financial instruments		1,206		—			1,206
Other assets		56,789		—			56,789
Total		772,186		(4,358	)		767,828
Financial liabilities
Trade and other payables		424,186		(16,312	)		407,874
Lease Liabilities		4,079		—			4,079
Derivative financial instruments		544		—			544
Total		428,809		(16,312	)		412,497

			Gross amounts			Net amounts
2021	Gross amounts		set off			presented
Financial assets	USD		USD			USD
Cash and cash equivalents		336,197		—			336,197
Financial assets at FVPL		1,004		—			1,004
Trade and other receivables		196,939		(5,973	)		190,966
Other assets		1,339		—			1,339
Total		535,479		(5,973	)		529,506
Financial liabilities
Trade and other payables		283,133		(5,973	)		277,160
Lease Liabilities		3,928		—			3,928
Financial liabilities		5,014		—			5,014
Derivative financial instruments		221		—			221
Total		292,296		(5,973	)		286,323

Related parties (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of Transactions Between Related Parties [Line Items]

Summary of Compensation of Executive Team and Directors

The compensation of the Executive Team and Directors during the year can be breakdown as follows:


	2022		2021
Short-term employee benefits – Salaries and wages		1,767		1,900
Long-term employee benefits – Share-based payment		3,351		7,590
		5,118		9,490

Summary of Transaction with Other Related Parties

The following transactions occurred with related parties:


	2022			2021
Transactions with merchants – Revenues		1,158			2,030
Transactions with preferred suppliers (Collection agents) – Costs		(621	)		(561	)
Transactions with other related parties – Costs		—			—

Summary of Outstanding Balances from Transactions with Related Parties

The following balances are outstanding at the end of the reporting period in relation to transactions with related parties:


	2022			2021
Balances with merchants – trade receivables		428			—
Balances with merchants – trade payables		(482	)		(622	)
Balances with preferred suppliers (Collection agents) – trade payables		(1,258	)		(125	)
Balances with preferred suppliers (Collection agents) – trade receivables		552			6,058

Cash Flow Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Borrowings [Line Items]

Summary of Most Significant Non-Cash Transaction

The most significant non-cash transaction is detailed below:


	2022			2021			2020
Right-of-use asset recognition with an increase in Lease liabilities		(328	)		(3,915	)		(188	)

Summary of Net Debt and the Movements in Net Debt

This section sets out an analysis of net cash/(debt) and the movements in net debt for each of the periods presented.


	2022			2021			2020
Cash and cash equivalents		468,092			336,197			111,733
Financial assets at fair value through profit or loss		1,295			1,004			8,319
Borrowings		—			(5,014	)		—
Lease liabilities		(4,079	)		(3,928	)		(218	)
Derivative financial instrument		(544	)		(221	)		(2,896	)
Net cash/(debt)		464,764			328,038			116,938
Cash and liquid investments		469,387			337,201			120,052
Gross debt – fixed interest rates		(4,623	)		(9,163	)		(3,114	)
Net cash/(debt)		464,764			328,038			116,938

Summary of Movements in Debt That Impact Cash Flow as Part of Financing Activities

According to the IAS 7, the movements in the debt of the year that impact on the cash flow as part of the financing activities are detailed below:


	Interest Bearing Borrowings	Lease liabilities	Derivative financial instrument	Sub-total	Cash & Cash Equivalents	Financial Assets at FVPL	Total
Net cash/(debt) as of December 31, 2019	—	(399)	—	(399)	34,765	15,399	49,765
Cash flows	—	151	—	151	76,968	(7,532)	69,587
Fair value changes	—	—	(2,896)	(2,896)	—	9	(2,887)
Lease benefit for
COVID-19	—	50	—	50	—	—	50
Other Changes	—	(20)	—	(20)	—	443	423
Net cash/(debt) as of December 31, 2020	—	(218)	(2,896)	(3,114)	111,733	8,319	116,938
Cash flows	(5,000)	572	—	(4,428)	224,464	(10,076)	209,960
Fair value changes	—	—	2,675	2,675	—	2,761	5,436
New leases	—	(4,282)	—	(4,282)	—	—	(4,282)
Other Changes	(14)	—	—	(14)	—	—	(14)
Net cash/(debt) as of December 31, 2021	(5,014)	(3,928)	(221)	(9,163)	336,197	1,004	328,038
Cash flows	6,785	177	221	7,183	113,781	327	121,291
Fair value changes	—	—	(544)	(544)	18,114	(36)	17,534
New leases	—	(328)	—	(328)	—	—	(328)
Other Changes	(1,771)	—	—	(1,771)	—	—	(1,771)
Net cash/(debt) as of December 31, 2022	—	(4,079)	(544)	(4,623)	468,092	1,295	464,764

Financial Risk Management (Table)

12 Months Ended

Dec. 31, 2022

Financial Risk Management [Line Items]

Summary of Maximum Exposure to Credit Risk

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the end of the year was as follows:


	2022		2021
Cash and Cash Equivalents		468,092		336,197
Financial Assets at Fair Value through Profit or Loss		1,295		1,004
Trade and Other Receivables		240,446		190,966
Derivative Financial Instrument		1,206		—
Other Assets		56,789		1,339
		767,828		529,506

Summary of Credit Risk Rating for Trade and Other Receivables at Geographical Regions

The table below discloses the credit risk rating for Trade and Other Receivables, based on external risk ratings of the geographical regions in which the Trade and Other Receivables are held:


Risk rating	2022		2021
A		18,880		20,839
AA		2,213		—
B		11,043		4,041
BB		137,286		103,322
BBB		29,161		26,960
CCC		41,863		35,804
		240,446		190,966

Summary of Group Exposure to Foreign Currency Risk


2022			Gain/(loss)
Account	Currency	Amount	% increase	Amount	% decrease	Amount
Net balances	United States dollar	47,162	10%	(4,716)	-10%	4,716
	Brazilian real	27,841	10%	(2,784)	-10%	2,784
	Indian rupee	16,530	10%	(1,653)	-10%	1,653
	Egyptian pound	16,243	10%	(1,624)	-10%	1,624
	Argentine peso	12,863	10%	(1,286)	-10%	1,286
	Chilean peso	12,457	10%	(1,246)	-10%	1,246
	Nigerian naira	12,403	10%	(1,240)	-10%	1,240
	Moroccan dirham	11,136	10%	(1,114)	-10%	1,114
	Euro	8,033	10%	(803)	-10%	803
	South African rand	5,494	10%	(549)	-10%	549
	Peruvian sol	4,363	10%	(436)	-10%	436
	Uruguayan peso	4,017	10%	(402)	-10%	402
	Colombian peso	3,763	10%	(376)	-10%	376
	Mexican peso	3,701	10%	(370)	-10%	370
	Saudi riyal	2,318	10%	(232)	-10%	232
	Vietnamese đồng	2,032	10%	(203)	-10%	203
	Philippine peso	1,992	10%	(199)	-10%	199
	Panamanian balboa	1,734	10%	(173)	-10%	173
	Malaysian ringgit	1,666	10%	(167)	-10%	167
	Pakistani rupee	1,439	10%	(144)	-10%	144
	Indonesian rupiah	1,143	10%	(114)	-10%	114
	Costa Rican colon	1,131	10%	(113)	-10%	113
	Chinese Yuan	948	10%	(95)	-10%	95
	Egytptian pound	827	10%	(83)	-10%	83
	Kenyan shilling	700	10%	(70)	-10%	70
	Paraguayan guaraní	676	10%	(68)	-10%	68
	Boliviano	273	10%	(27)	-10%	27
	Guatemalan quetzal	259	10%	(26)	-10%	26
	Thai baht	95	10%	(10)	-10%	10
	Honduran Lempira	60	10%	(6)	-10%	6
	Ghanaian cedi	48	10%	(5)	-10%	5
	Ugandan shilling	39	10%	(4)	-10%	4
	Algerian dinar	24	10%	(2)	-10%	2
	Nicaraguan córdoba	18	10%	(2)	-10%	2
	Turkish lira	17	10%	(2)	-10%	2
	West African CFA franc	7	10%	(1)	-10%	1
	Pound sterling	3	10%	(0)	-10%	0
	Jordanian dinar	1	10%	(0)	-10%	0
	Czech koruna	—	10%	—	-10%	—
	Mexican peso	(8)	10%	1	-10%	(1)
	Bangladeshi taka	(39)	10%	4	-10%	(4)
	Israeli new shekel	(168)	10%	17	-10%	(17)
	Total	203,241		(20,324)		20,324


2021				Gain/(loss)
Account	Currency	Amount		% increase	Amount			% decrease		Amount
Net balances	Brazilian reais		39,017	10%		(3,902	)	-10%			3,902
	Chilean pesos		23,195	10%		(2,320	)	-10%			2,320
	Argentine pesos		22,206	10%		(2,221	)	-10%			2,221
	Mexican pesos		15,048	10%		(1,503	)	-10%			1,503
	South African rand		7,515	10%		(752	)	-10%			752
	Indonesian rupiah		4,370	10%		(437	)	-10%			437
	Peruvian Nuevo Sol		4,021	10%		(402	)	-10%			402
	Colombian pesos		4,010	10%		(401	)	-10%			401
	Euros		3,563	10%		(356	)	-10%			356
	Uruguayan pesos		3,323	10%		(332	)	-10%			332
	Nigerian nairas		2,295	10%		(230	)	-10%			230
	Egyptian pounds		562	10%		(56	)	-10%			56
	Paraguayan guaranís		200	10%		(20	)	-10%			20
	Dominican pesos		127	10%		(13	)	-10%			13
	Pakistanee rupees		113	10%		(11	)	-10%			11
	Bangladeshi takas		38	10%		(4	)	-10%			4
	Moroccan dirhams		9	10%		(1	)	-10%			1
	Total		129,612			(12,961	)		-		12,961

Summary of contractual undiscounted cash flows

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.


Contractual maturities of financial liabilities 31 December 2022	Less than 6 months		6-12 months		Between 1 and 2 years		More than 2 years		Total contractual cash flows		Carrying amount
Non-derivatives
Trade and other payables		407,874		—		—		—		407,874		407,874
Leases liabilities		296		394		546		3,628		4,864		4,079
Total non-derivatives		408,170		394		546		3,628		412,738		411,953
Derivatives
Derivative financial instruments		544		—		—		—		544		544
Total derivatives		544		—		—		—		544		544


Contractual maturities of financial liabilities 31 December 2021	Less than 6 months		6-12 months		Between 1 and 2 years		More than 2 years		Total contractual cash flows		Carrying amount
Non-derivatives
Trade and other payables		277,160		—		—		—		277,160		277,160
Financial liabilities		5,014		—		—		—		5,014		5,014
Leases liabilities		204		299		462		3,878		4,843		3,928
Total non-derivatives		282,378		299		462		3,878		287,017		286,102
Derivatives
Derivative financial instruments		221		—		—		—		221		221
Total derivatives		221		—		—		—		221		221

Fair Value Hierarchy (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Fair Value Measurement [Line Items]

Summary of Financial Instruments Measured at Amortized Cost

The table also includes financial instruments measured at amortized cost. The Group understands that the book value of such instruments approximates their fair value.


December 31, 2022	FVPL		Amortized cost		Total		Level 1		Level 2		Level 3
Assets
Financial Assets at Fair Value through Profit or Loss		1,295		—		1,295		1,295		—		—
Other Assets		—		56,789		56,789		—		—		—
Trade and Other Receivables		—		240,446		240,446		—		—		—
Derivative financial instruments (1)		1,206		—		1,206		—		1,206		—
Cash and Cash Equivalents		—		468,092		468,092		—		—		—
		2,501		765,327		767,828		1,295		1,206		—


December 31, 2021	FVPL		Amortized cost		Total		Level 1		Level 2		Level 3
Assets
Financial Assets at Fair Value through Profit or Loss		1,004		—		1,004		1,004		—		—
Other Assets		—		1,339		1,339		—		—		—
Trade and Other Receivables		—		190,966		190,966		—		—		—
Cash and Cash Equivalents		—		336,197		336,197		—		—		—
		1,004		528,502		529,506		1,004		—		—


December 31, 2022	FVPL			Amortized cost			Total			Level 1		Level 2			Level 3
Liabilities
Trade and Other Payables		—			(407,874	)		(407,874	)		—		—			—
Derivative financial instruments (1)		(544	)		—			(544	)		—		(544	)		—
Lease Liabilities		—			(4,079	)		(4,079	)		—		—			—
		(544	)		(411,953	)		(412,497	)		—		(544	)		—


December 31, 2021	FVPL			Amortized cost			Total			Level 1		Level 2			Level 3
Liabilities
Trade and Other Payables		—			(277,160	)		(277,160	)		—		—			—
Financial liabilities		—			(5,014	)		(5,014	)		—		—			—
Derivative financial instruments (1)		(221	)		—			(221	)		—		(221	)		—
Lease Liabilities		—			(3,928	)		(3,928	)		—		—			—
Contingent consideration liability		(665	)					(665	)		—		—			(665	)
		(886	)		(286,102	)		(286,988	)		—		(221	)		(665	)

General Information and Reorganization - Additional Information (Details) $ / shares in Units, € in Thousands		1 Months Ended	12 Months Ended
	Jun. 02, 2021 $ / shares shares	Nov. 30, 2020 Officer	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($) $ / shares	Dec. 19, 2022 USD ($)	Mar. 03, 2022 USD ($)	Jun. 03, 2021 shares	Apr. 14, 2021 $ / shares	Mar. 11, 2021 USD ($)
General Information And Reorganization [Line Items]
Name of reporting entity					DLocal Limited	DLocal Limited
Description of nature of entity's operations and principal activities			DLocal Limited (“dLocal” or the “Company”) is a holding company, referred to together with its subsidiaries as the “Group”. dLocal is a limited liability company. The Group was established on October 5, 2016, under the holding company dLocal Group Limited, domiciled and incorporated in Malta, and on April 14, 2021 it was reorganized under dLocal, domiciled and incorporated in the Cayman Islands. The Company is the ultimate controlling party of the Group.	DLocal Limited (“dLocal” or the “Company”) is a holding company, referred to together with its subsidiaries as the “Group”. dLocal is a limited liability company. The Group was established on October 5, 2016, under the holding company dLocal Group Limited, domiciled and incorporated in Malta, and on April 14, 2021 it was reorganized under dLocal, domiciled and incorporated in the Cayman Islands. The Company is the ultimate controlling party of the Group.
Domicile of entity			Cayman Islands	Cayman Islands
Number of operate and licensed countries			40 countries	40 countries
Date of business acquisition			Apr. 14, 2021	Apr. 14, 2021
Contribution percentage				100.00%
Par value change per share \| $ / shares				$ 1.1211						$ 1.1211
Capital requirement imposed by regulator for maintaining financial institution license			€ 400	$ 453,000
Capital requirements					€ 530	$ 600,000
Tier one capital temporarily short respect of regulatory capital requirement						37,666,000
Tier one capital requirement post verification						4,621,000
Externally imposed minimum capital requirement by regulator					€ 530	$ 600,000
Consideration value											$ 40,000.0
Number of shares issued \| shares									4,411,765
Bank J. Safra Sarasin Ltd
General Information And Reorganization [Line Items]
Line of credit facility maximum amount								$ 4,000,000
Employee Share Purchase Plan
General Information And Reorganization [Line Items]
Number of officers signed on loan agreement \| Officer		2
PrimeiroPay
General Information And Reorganization [Line Items]
Consideration value											39,335,000
Contingent consideration											1,330,000
Cash consideration											$ 38,670,000
Top of Range
General Information And Reorganization [Line Items]
Par value change per share \| $ / shares						$ 1
Bottom of Range
General Information And Reorganization [Line Items]
Par value change per share \| $ / shares						$ 1.1211
Class A Common Shares \| Top of Range
General Information And Reorganization [Line Items]
Shares approved for repurchase amount							$ 100,000,000
Common Shares
General Information And Reorganization [Line Items]
Stock split	500-for-1
Number of shares issued \| shares	500
Common Shares \| Top of Range
General Information And Reorganization [Line Items]
Par value change per share \| $ / shares	$ 1
Shares outstanding \| shares	288,504,000
Common Shares \| Bottom of Range
General Information And Reorganization [Line Items]
Par value change per share \| $ / shares	$ 0.002
Shares outstanding \| shares	577,008

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Schedule of Exchange Rates of Currencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Argentina \| ARS
Foreign Exchange Rates [Line Items]
Average rate	132.1	94.9
Year-end spot rate	176.7	102.6
Brazil \| BRL
Foreign Exchange Rates [Line Items]
Average rate	5.2	5.4
Year-end spot rate	5.3	5.6
Chile \| CLP
Foreign Exchange Rates [Line Items]
Average rate	872.3	758.5
Year-end spot rate	851.1	850.3
Colombia \| COP
Foreign Exchange Rates [Line Items]
Average rate	4,273.1	3,741.8
Year-end spot rate	4,852.5	3,981.2
Costa Rica \| CRC
Foreign Exchange Rates [Line Items]
Average rate	642.7	634.6
Year-end spot rate	593.2	639.1
Dominican Republic \| DOP
Foreign Exchange Rates [Line Items]
Average rate	55.0	56.8
Year-end spot rate	56.2	57.1
Ecuador \| USD
Foreign Exchange Rates [Line Items]
Average rate	1.0	1.0
Year-end spot rate	1.0	1.0
Egypt \| EGP
Foreign Exchange Rates [Line Items]
Average rate	19.3	15.7
Year-end spot rate	24.7	15.8
Guatemala \| GTQ
Foreign Exchange Rates [Line Items]
Average rate	7.8	7.7
Year-end spot rate	7.8	7.7
India \| INR
Foreign Exchange Rates [Line Items]
Average rate	78.8	72.2
Year-end spot rate	82.7	74.3
Indonesia \| IDR
Foreign Exchange Rates [Line Items]
Average rate	14,880.2	14,308.3
Year-end spot rate	15,568.0	14,241.5
Israel \| ILS
Foreign Exchange Rates [Line Items]
Average rate	3.4	3.1
Year-end spot rate	3.5	3.0
Malaysia \| MYR
Foreign Exchange Rates [Line Items]
Average rate	4.5	4.1
Year-end spot rate	4.4	4.2
Malta \| EUR
Foreign Exchange Rates [Line Items]
Average rate	0.9	0.8
Year-end spot rate	0.9	0.8
Mexico \| MXN
Foreign Exchange Rates [Line Items]
Average rate	20.1	20.5
Year-end spot rate	19.5	20.3
Morocco \| MAD
Foreign Exchange Rates [Line Items]
Average rate	10.2	9.2
Year-end spot rate	10.4	9.2
Nigeria \| NGN
Foreign Exchange Rates [Line Items]
Average rate	427.2	414.7
Year-end spot rate	460.8	414.6
Panama \| USD
Foreign Exchange Rates [Line Items]
Average rate	1.0	1.0
Year-end spot rate	1.0	1.0
Paraguay \| PYG
Foreign Exchange Rates [Line Items]
Average rate	7,007.8	6,863.8
Year-end spot rate	7,247.8	6,815.8
Peru \| PEN
Foreign Exchange Rates [Line Items]
Average rate	3.8	4.0
Year-end spot rate	3.8	3.9
Singapore \| SGD
Foreign Exchange Rates [Line Items]
Average rate	1.4	1.3
Year-end spot rate	1.3	1.4
South Africa \| ZAR
Foreign Exchange Rates [Line Items]
Average rate	16.4	14.8
Year-end spot rate	17.0	15.9
Uruguay \| UYU
Foreign Exchange Rates [Line Items]
Average rate	41.1	44.7
Year-end spot rate	39.9	43.6

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Summary of Depreciation is Calculated on a Straight-line Basis Over the Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Computer Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives of property plant and equipment	3 years
Building Improvements
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives of property plant and equipment	10 years

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Summaries of Options Granted Under the Plan (Details)	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Average exercise price At the beginning of period \| $ / shares	$ 1.16	$ 1.22
Average exercise price granted during the period \| $ / shares	18.90	3.69
Average exercise price exercised during the period \| $ / shares	3.45	2.03
Average exercise price forfeited during the period \| $ / shares	10.31	4.15
Average exercise price at the end of period \| $ / shares	8.30	1.16
Average exercise price vested and exercisable at the end of period \| $ / shares	$ 4.06	$ 3.54
Number of options and RSUs at the beginning of period \| shares	4,032,345	17,361,000
Number of options and RSUs granted during the period \| shares	1,474,463	2,371,345
Number of options and RSUs exercised during the period \| shares	(1,136,375)	(15,685,000)
Number of options and RSUs forfeited during the period \| shares	(835,872)	(15,000)
Number of options at the end of period \| shares	3,534,561	4,032,345
Number of options and RSUs vested and exercisable at the end of period \| shares	347,788	486,750

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Additional Information (Details) $ / shares in Units, R$ in Millions				1 Months Ended		12 Months Ended
	Jun. 09, 2022 GBP (£)	Jun. 09, 2022 USD ($)	Jun. 02, 2021 $ / shares shares	Apr. 30, 2021	Nov. 30, 2020 USD ($) Officer	Dec. 31, 2022 USD ($) shares Investor	Dec. 31, 2021 BRL (R$) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018	Jun. 09, 2022 USD ($)	Apr. 19, 2022 BRL (R$)	Apr. 19, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Cumulative inflation rate period						3 years				3 years
Percentage of cumulative inflation rate						100.00%				100.00%
Financial liabilities at fair value through profit or loss						$ 544,000		$ 886,000
Acquired intangible assets useful economic lives							18 years 9 months
Loan amount							R$ 27.0					R$ 37.5	$ 14,782,000	$ 5,000,000
Loan interest							1.85%							1.85%
Number of options expired \| shares						0	0
Dlocal Technologies S.A.
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Monthly payments on lease units						$ 46,000
D Local Technologies S.A. and WTC Free Zone S.A.
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease contract term				10 years
Dlocal Opco UK Ltd.
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease contract term	2 years	2 years
Description of lease extended term						The term of 2 years can be extended for 1-month terms unless the Company terminates the agreement.
Incremental percentage of membership fee						(3.50%)
Dlocal Opco UK Ltd. \| Per month + VAT
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure	£ 12,800										$ 16,000
Dlocal Opco UK Ltd. \| + VAT discount from September 2022 to February 2024
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure	3,399.68										$ 4,000
Dlocal Opco UK Ltd. \| + VAT
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Additional non-refundable fees	£ 540	$ 1,000
Malta
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Israel
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Brazil
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
China
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Chile
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Colombia
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
India
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Singapore
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Leases contract term						one year or less
Uruguay \| Dlocal Technologies S.A.
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease contract term						4 years
Lease extended term						5 years
Description of lease extended term						The term of 4 years can be extended for periods of 5 years, unless any of the parties informs the other of its decision to terminate with at least 120 days anticipation of the expiry date.
Incremental borrowing rate						6.52%
Uruguay \| Dlocal Technologies S.A. \| First year
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure						$ 140,000
Uruguay \| Dlocal Technologies S.A. \| Second year
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure						153,000
Uruguay \| Dlocal Technologies S.A. \| Third year
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure						171,000
Uruguay \| Dlocal Technologies S.A. \| Fourth year
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Lease payment structure						$ 175,000
Argentina
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Cumulative inflation rate period										3 years
Percentage of cumulative inflation rate										100.00%
Leases contract term						one year or less
Employee Share Purchase Plan
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Number of officers signed on loan agreement \| Officer					2
Loan amount					$ 31,500,000
Loan interest					1.50%
Computer Equipment
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment						3 years
Common Stock
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Stock split description			a written resolution of dLocal’s shareholders dated May 19, 2021 and effective June 2, 2021, approved a 500-for-1 stock split of dLocal’s common shares
Conversion of stock shares converted \| shares			500
Increase in authorized share capital \| shares			1,500,000,000
Share capital before changing par value of common shares \| shares			577,008
Share capital after changing par value of common shares \| shares			288,504,000
Price index						1.9	1.5	1.36
Stock split			500-for-1
Warrants
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Warrants issued to purchase common stock \| shares									17,345,000
Purchase price per share \| $ / shares									$ 0.57
Percent of price per share paid in or implied by transaction									60.00%
Net cash proceeds from exercise of warrants									$ 0
Merchant’s beneficial ownership percentage upon issuance of warrant									4.999%
Number of notice days to waive beneficial ownership limit									61 days
Top of Range
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Acquired intangible assets useful economic lives						3 years
Top of Range \| Common Stock
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Change in par value of common shares \| $ / shares			$ 1.00
Bottom of Range \| Common Stock
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Change in par value of common shares \| $ / shares			$ 0.002
dLocal Group Limited
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Financial assets at fair value through OCI						$ 0								$ 0
Number of shareholder \| Investor						1
Number of other equity instruments expired in share-based payment arrangement \| shares						0	0
Date of expiration of warrants						Jan. 01, 2026
dLocal Group Limited \| Top of Range
Disclosure Of Presentation And Preparation Of Consolidated Financial Statements And Significant Accounting Policies [Line Items]
Amortization period of capitalized software development costs on straight-line basis						3 years

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Summary of Share Options and Restricted Stock Units Outstanding, Vesting Dates and Exercise Prices (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Share options and RSUs outstanding	3,534,561	4,032,345
Weighted average remaining contractual life of restricted stock units and share options outstanding at end of the period	3 years 7 months 9 days	4 years 2 months 26 days
Employee Share Purchase Plan Grant Date August 1st, 2018
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	August 1st, 2018
Vesting period	3 years
Last vesting date	Aug. 01, 2021
Exercise price (U.S. Dollars per A Share)	$ 0.74
Share options and RSUs outstanding		90,500
Employee Share Purchase Plan Grant Date October 1st, 2019
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	October 1st, 2019
Vesting period	3 years
Last vesting date	Oct. 01, 2022
Exercise price (U.S. Dollars per A Share)	$ 2.18
Share options and RSUs outstanding		90,000
Employee Share Purchase Plan Grant Date August 24th, 2020
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	August 24th, 2020
Vesting period	5 years
Last vesting date	Aug. 24, 2025
Exercise price (U.S. Dollars per A Share)	$ 3.30
Share options and RSUs outstanding	700,000	835,000
Employee Share Purchase Plan Grant Date November 15th, 2020
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	November 15th, 2020
Vesting period	4 years
Last vesting date	Nov. 15, 2024
Exercise price (U.S. Dollars per A Share)	$ 4.15
Share options and RSUs outstanding	87,750	135,000
Employee Share Purchase Plan Grant Date November 23rd, 2020
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	November 23rd, 2020
Vesting period	5 years
Last vesting date	Nov. 23, 2025
Exercise price (U.S. Dollars per A Share)	$ 3.88
Share options and RSUs outstanding		525,500
Employee Share Purchase Plan Grant Date January 1st, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	January 1st, 2021
Vesting period	5 years
Last vesting date	Jan. 01, 2026
Exercise price (U.S. Dollars per A Share)	$ 3.88
Share options and RSUs outstanding	132,000	210,000
Employee Share Purchase Plan Grant Date March 1st, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 1st, 2021
Vesting period	1 year
Last vesting date	Mar. 01, 2022
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	5,500	5,500
Employee Share Purchase Plan Grant Date March 2nd, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 2nd, 2021
Vesting period	5 years
Last vesting date	Mar. 02, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding	8,000	10,000
Employee Share Purchase Plan Grant Date March 11th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 11th, 2021
Vesting period	5 years
Last vesting date	Mar. 11, 2026
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	725,375	1,031,000
Employee Share Purchase Plan Grant Date March 11th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 11th, 2021
Vesting period	5 years
Last vesting date	Mar. 11, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding	28,000	36,000
Employee Share Purchase Plan Grant Date March 12nd, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 12nd, 2021
Vesting period	5 years
Last vesting date	Mar. 12, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding		7,000
Employee Share Purchase Plan Grant Date March 15th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 15th, 2021
Vesting period	5 years
Last vesting date	Mar. 15, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding		7,500
Employee Share Purchase Plan Grant Date March 29th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 29th, 2021
Vesting period	5 years
Last vesting date	Mar. 29, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding		10,000
Employee Share Purchase Plan Grant Date May11th2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 11th, 2021
Vesting period	5 years
Last vesting date	May 11, 2026
Exercise price (U.S. Dollars per A Share)	$ 7.44
Share options and RSUs outstanding	453,500	927,500
Employee Share Purchase Plan Grant Date May 11th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 11th, 2021
Vesting period	3 years
Last vesting date	May 11, 2024
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	22,500	22,500
Employee Share Purchase Plan Grant Date May 18th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 18th, 2021
Vesting period	5 years
Last vesting date	May 18, 2026
Exercise price (U.S. Dollars per A Share)	$ 16.17
Share options and RSUs outstanding	10,000	10,000
Employee Share Purchase Plan Grant Date December 9th, 2021
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	December 9th, 2021
Vesting period	5 years
Last vesting date	Dec. 09, 2026
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	69,235	79,345
Employee Share Purchase Plan Grant Date February 21st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	February 21st, 2022
Vesting period	5 years
Last vesting date	Feb. 21, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	6,930
Employee Share Purchase Plan Grant Date March 16th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 16th, 2022
Vesting period	5 years
Last vesting date	Mar. 16, 2027
Exercise price (U.S. Dollars per A Share)	$ 30.47
Share options and RSUs outstanding	20,000
Employee Share Purchase Plan Grant Date March 28th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	March 28th, 2022
Vesting period	5 years
Last vesting date	Mar. 28, 2027
Exercise price (U.S. Dollars per A Share)	$ 30.27
Share options and RSUs outstanding	55,256
Employee Share Purchase Plan Grant Date April 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	April 1st, 2022
Vesting period	5 years
Last vesting date	Apr. 01, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	4,886
Employee Share Purchase Plan Grant Date May 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 1st, 2022
Vesting period	5 years
Last vesting date	May 01, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	57,665
Employee Share Purchase Plan Grant Date May 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 1st, 2022
Vesting period	5 years
Last vesting date	May 01, 2027
Exercise price (U.S. Dollars per A Share)	$ 26.01
Share options and RSUs outstanding	240,000
Employee Share Purchase Plan Grant Date May 18th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 18th, 2022
Vesting period	5 years
Last vesting date	May 18, 2027
Exercise price (U.S. Dollars per A Share)	$ 19.72
Share options and RSUs outstanding	160,000
Employee Share Purchase Plan Grant Date May 26th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	May 26th, 2022
Vesting period	5 years
Last vesting date	May 26, 2027
Exercise price (U.S. Dollars per A Share)	$ 21.02
Share options and RSUs outstanding	20,000
Employee Share Purchase Plan Grant Date July 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	July 1st, 2022
Vesting period	6 years
Last vesting date	Jul. 01, 2028
Exercise price (U.S. Dollars per A Share)	$ 26.70
Share options and RSUs outstanding	88,500
Employee Share Purchase Plan Grant Date July 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	July 1st, 2022
Vesting period	3 years
Last vesting date	Jul. 01, 2025
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	13,428
Employee Share Purchase Plan Grant Date August 15th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	August 15th, 2022
Vesting period	5 years
Last vesting date	Aug. 15, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	20,000
Employee Share Purchase Plan Grant Date August 15th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	August 15th, 2022
Vesting period	5 years
Last vesting date	Aug. 15, 2027
Exercise price (U.S. Dollars per A Share)	$ 29.23
Share options and RSUs outstanding	206,250
Employee Share Purchase Plan Grant Date September 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	September 1st, 2022
Vesting period	5 years
Last vesting date	Sep. 01, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	2,213
Employee Share Purchase Plan Grant Date September 5th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	September 5th, 2022
Vesting period	5 years
Last vesting date	Sep. 05, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	937
Employee Share Purchase Plan Grant Date September 6th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	September 6th, 2022
Vesting period	5 years
Last vesting date	Sep. 06, 2027
Exercise price (U.S. Dollars per A Share)	$ 26.51
Share options and RSUs outstanding	30,000
Employee Share Purchase Plan Grant Date October 1st, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	October 1st, 2022
Vesting period	5 years
Last vesting date	Oct. 01, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	2,586
Employee Share Purchase Plan Grant Date October 3rd, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	October 3rd, 2022
Vesting period	5 years
Last vesting date	Oct. 03, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	4,379
Employee Share Purchase Plan Grant Date October 17th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	October 17th, 2022
Vesting period	5 years
Last vesting date	Oct. 17, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	2,805
Employee Share Purchase Plan Grant Date October 17th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	October 17th, 2022
Vesting period	5 years
Last vesting date	Oct. 17, 2027
Exercise price (U.S. Dollars per A Share)	$ 21.39
Share options and RSUs outstanding	50,000
Employee Share Purchase Plan Grant Date December 9th, 2022
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items]
Grant date	December 9th, 2022
Vesting period	5 years
Last vesting date	Dec. 09, 2027
Exercise price (U.S. Dollars per A Share)	$ 0.002
Share options and RSUs outstanding	306,866

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Summary of Warrants Granted (Details) - Warrants	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Average exercise price per share warrant At the beginning of period \| $ / shares	$ 0.57	$ 0.57
Average exercise price per share warrant exercised during the period \| $ / shares	0	0.57
Average exercise price per share warrant at the end of period \| $ / shares	0.57	0.57
Average exercise price per share warrant vested and exercisable at the end of period \| $ / shares	$ 0.57	$ 0.57
Number of warrants at the beginning of period \| shares	15,213,587	17,345,000
Number of warrants exercised during the period \| shares	0	(2,131,413)
Number of warrants at the end of period \| shares	15,213,587	15,213,587
Number of warrants, Vested and exercisable \| shares	15,213,587	15,213,587

Presentation and Preparation of the Consolidated Financial Statements and Significant Accounting Policies - Summary of Revenues from Payment Processing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Transaction revenues	$ 415,444	$ 241,814	$ 103,489
Other revenues	3,481	2,306	654
Revenues from payment processing	$ 418,925	244,120	104,143
As Previously Reported
Disclosure of terms and conditions of share-based payment arrangement [line items]
Transaction revenues		234,417	98,490
Other revenues		9,703	5,653
Revenues from payment processing		244,120	104,143
Reclassification
Disclosure of terms and conditions of share-based payment arrangement [line items]
Transaction revenues		7,397	4,999
Other revenues		$ (7,397)	$ (4,999)

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2022-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2022-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_32&doctype=Standard
-URIDate 2022-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2022-03-24

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_34&doctype=Standard
-URIDate 2022-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2022-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2022-03-24

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2022-03-24

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_103&doctype=Standard
-URIDate 2022-03-24

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_102&doctype=Standard
-URIDate 2022-03-24

+ Details

Accounting estimates and judgments - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Changes In Accounting Estimates [Line Items]
Average exercise price per share option granted during the period	$ 18.90	$ 3.69
Warrants
Disclosure Of Changes In Accounting Estimates [Line Items]
Average exercise price per share warrant	$ 0.57	$ 0.57	$ 0.57
Model Inputs for Measuring Fair Value of Derivative Financial Instrument
Disclosure Of Changes In Accounting Estimates [Line Items]
Consideration on options granted	0	0
Vested options exercisable period	5 years	5 years
Average exercise price per share option granted during the period	$ 25.39	$ 2.17
Grant date	March 16th, March 28th, May 1st, May 18th, May 26th, July 1st, September 9th, October 17th	January 1st, March 1st, March 2nd, March 11th, March 12th, March 15th, March 29th, ;May 11th, ;May 18 and December 9th
Expiry date	March 16th 2032, March 28th 2032, May 1st 2032, May 18th 2032, May 26th 2032, July 1st 2032, September 9th 2032, October 17th 2032	January 1st, 2026, March 1, 2022, March 2nd 2026, March 11, 2026, March 12, 2026, March 15, 2026, March 29, 2026, May 11, 2024, May 18, 2026 and December 9th, 2026
Average share price, share options granted	$ 26.79	$ 8.3
Average expected price volatility of shares	43.80%	39.70%
Average risk-free interest rate	3.10%	0.70%

Consolidation of Subsidiaries - Summary of Consolidated Financial Statements of Group include the Subsidiaries (Details))		12 Months Ended
	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Dlocal Group Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Malta
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Malta
Principal activities		Payments provider
% of equity interest held by Dlocal		99.999%	99.999%
Dlocal Markets Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Malta
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Hold Ops Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Cayman Islands
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%
Dlocal LLP
Disclosure of subsidiaries [line items]
Country of incorporation		United Kingdom
Principal activities		Payments provider
% of equity interest held by Dlocal		99.999%	99.999%
Dlocal Corp LLP
Disclosure of subsidiaries [line items]
Country of incorporation		United Kingdom
Principal activities		Payments provider
% of equity interest held by Dlocal		99.99%	99.99%
Dlocal OpCo UK LTD
Disclosure of subsidiaries [line items]
Country of incorporation		United Kingdom
Principal activities		Payments provider
% of equity interest held by Dlocal		100.00%
Dlocal Inc.
Disclosure of subsidiaries [line items]
Country of incorporation		United States of America
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Technologies S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Uruguay
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Uruguay S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Uruguay
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal PTE Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Singapore
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Argentina S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Argentina
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Argentina S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Argentina
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Services Arg S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Argentina
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Services Arg S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Argentina
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%
DLocal Bangladesh Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Bangladesh
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Bolivia S.R.L.
Disclosure of subsidiaries [line items]
Country of incorporation		Bolivia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Brasil Holding Financeira
Disclosure of subsidiaries [line items]
Country of incorporation		Brazil
Principal activities		Holding Company
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Brasil Instituicao de Pagamento S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Brazil
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Brasil Facilitadora de Pagamentos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation		Brazil
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Webpay Brasil Pagamentos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation		Brazil
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Cameroun SARL
Disclosure of subsidiaries [line items]
Country of incorporation		Cameroon
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Chile SPA
Disclosure of subsidiaries [line items]
Country of incorporation		Chile
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Chile SPA
Disclosure of subsidiaries [line items]
Country of incorporation		Chile
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Pagos y Servicios Limitada
Disclosure of subsidiaries [line items]
Country of incorporation		Chile
Principal activities		Collection agent
% of equity interest held by Dlocal		99.00%	100.00%
FCA Chile 2 Spa
Disclosure of subsidiaries [line items]
Country of incorporation		Chile
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Colombia S.A.S.
Disclosure of subsidiaries [line items]
Country of incorporation		Colombia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Colombia S.A.S.
Disclosure of subsidiaries [line items]
Country of incorporation		Colombia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
W-Collect S.A.S.
Disclosure of subsidiaries [line items]
Country of incorporation		Colombia
Principal activities		Collection agent
% of equity interest held by Dlocal			100.00%
BH Collect S.A.S.
Disclosure of subsidiaries [line items]
Country of incorporation		Colombia
Principal activities		Collection agent
% of equity interest held by Dlocal			100.00%
Kupa Colombia S.A.S.
Disclosure of subsidiaries [line items]
Country of incorporation		Colombia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Costa Rica SRL
Disclosure of subsidiaries [line items]
Country of incorporation		Costa Rica
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerege Ecuador S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Ecuador
Principal activities		Collection agent
% of equity interest held by Dlocal	99.85%	100.00%	0.15%
Dlocal Egypt LLC
Disclosure of subsidiaries [line items]
Country of incorporation		Egypt
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal El Salvador S.A de C.V.
Disclosure of subsidiaries [line items]
Country of incorporation		El Salvador
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
dLocal Ghana Limited Company
Disclosure of subsidiaries [line items]
Country of incorporation		Ghana
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Guatemala S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Guatemala
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Honduras S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Honduras
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Depansum Solutions Private Limited
Disclosure of subsidiaries [line items]
Country of incorporation		India
Principal activities		Collection agent
% of equity interest held by Dlocal		99.00%	99.00%
Dlocal India Pvt Limited
Disclosure of subsidiaries [line items]
Country of incorporation		India
Principal activities		Collection agent
% of equity interest held by Dlocal		99.99%	99.99%
Guisol Solutions Private Limited
Disclosure of subsidiaries [line items]
Country of incorporation		India
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
PT Dlocal Solutions Indonesia
Disclosure of subsidiaries [line items]
Country of incorporation		Indonesia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Israel Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Israel
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal SARL
Disclosure of subsidiaries [line items]
Country of incorporation		Ivory Coast
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Japan Ltd
Disclosure of subsidiaries [line items]
Country of incorporation		Japan
Principal activities		Collection agent
% of equity interest held by Dlocal		66.60%
Dlocal Payments Kenya Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Kenya
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Depansum Malaysia SDN. BHD.
Disclosure of subsidiaries [line items]
Country of incorporation		Malaysia
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Mexico S.A. de C.V.
Disclosure of subsidiaries [line items]
Country of incorporation		Mexico
Principal activities		Collection agent
% of equity interest held by Dlocal		99.999%	99.999%
Dlocal Mexico S.A. DE C.V.
Disclosure of subsidiaries [line items]
Country of incorporation		Mexico
Principal activities		Collection agent
% of equity interest held by Dlocal		99.999%	99.999%
Dlocal Technologies Mexico S.A. DE C.V.
Disclosure of subsidiaries [line items]
Country of incorporation		Mexico
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%	100.00%
DLocal Morocco SARL AU
Disclosure of subsidiaries [line items]
Country of incorporation		Morocco
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Nigeria Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Nigeria
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Panama S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Panama
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Dlocal Paraguay S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Paraguay
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
Demerge Peru S.A.C.
Disclosure of subsidiaries [line items]
Country of incorporation		Peru
Principal activities		Collection agent
% of equity interest held by Dlocal		99.00%	99.00%
Depansum Peru S.A.C
Disclosure of subsidiaries [line items]
Country of incorporation		Peru
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Payments Philippines Incorporated
Disclosure of subsidiaries [line items]
Country of incorporation		Philippines
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge Republica Dominicana SAS
Disclosure of subsidiaries [line items]
Country of incorporation		Dominican Republic
Principal activities		Collection agent
% of equity interest held by Dlocal		99.99%	99.99%
Dlocal Rwanda Ltd.
Disclosure of subsidiaries [line items]
Country of incorporation		Rwanda
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Depansum PTY Limited
Disclosure of subsidiaries [line items]
Country of incorporation		South Africa
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%	100.00%
DLP South Africa PTY Ltd.
Disclosure of subsidiaries [line items]
Country of incorporation		South Africa
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Tanzania LTD
Disclosure of subsidiaries [line items]
Country of incorporation		Tanzania
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Demerge (Thailand) Co. LTD
Disclosure of subsidiaries [line items]
Country of incorporation		Thailand
Principal activities		Collection agent
% of equity interest held by Dlocal		49.00%
Dlocal Uganda LTD
Disclosure of subsidiaries [line items]
Country of incorporation		Uganda
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Payment Services L.L.C.
Disclosure of subsidiaries [line items]
Country of incorporation		United Arab Emirates
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal US LLC
Disclosure of subsidiaries [line items]
Country of incorporation		United States of America
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%
CILFUR S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Uruguay
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%
Maubek S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Uruguay
Principal activities		Service provider
% of equity interest held by Dlocal		100.00%
Harpot S.A.
Disclosure of subsidiaries [line items]
Country of incorporation		Uruguay
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%
Dlocal Vietnam Company Limited
Disclosure of subsidiaries [line items]
Country of incorporation		Vietnam
Principal activities		Collection agent
% of equity interest held by Dlocal		100.00%

Consolidation of Subsidiaries - Summary of Consolidated Financial Statements of Group include the Subsidiaries (Parenthetical) (Details)		12 Months Ended
	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Demerege Ecuador S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.85%	100.00%	0.15%
Demerge (Thailand) Co. LTD
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		49.00%

Segment Reporting - Summary of Reconciliation of Segment's Performance Measure to Profit Presented in Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Operating Segments [Line Items]
Profit for the period	$ 108,697	$ 77,853	$ 28,187
Income tax expense	11,586	7,647	3,231
Inflation adjustment	1,037	334	(38)
Finance income	(18,078)	(2,540)	(502)
Finance costs	24,668	544	67
Other operating (gain) / loss	697	(2,896)	2,896
Impairment loss/(gain) on financial assets	5,534	33	(808)
Depreciation and amortization	8,147	4,747	992
Secondary offering expenses	89	5,158	453
Transaction costs		687	158
Other non-recurring costs	2,014
Share-based payment non-cash charges, net of forfeitures	8,684	7,590	7,295
Adjusted EBITDA	153,075	99,157	41,931
Revenues	$ 418,925	$ 244,120	$ 104,143
Adjusted EBITDA Margin	36.50%	40.60%	40.30%
Profit Margin	25.90%	31.90%	27.10%

Segment Reporting - Summary of Reconciliation of Segment's Performance Measure to Profit Presented in Consolidated Statement of Comprehensive Income (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 11, 2022
Disclosure of operating segments [line items]
Net foreign exchange gain	$ 14,559
Foreign exchange losses	14,832	$ 2,100	$ 2,977
Net foreign exchange loss	273
Deposits in brokers	5,576
FTX Trading Ltd
Disclosure of operating segments [line items]
Deposits in brokers	$ 5,600			$ 5,576

Segment Reporting - Summary of Payments from/to Such Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Operating Segments [Line Items]
Revenues	$ 418,925	$ 244,120	$ 104,143
Percentage of revenues	71.60%	134.40%
LatAm
Disclosure Of Operating Segments [Line Items]
Revenues	$ 345,360	$ 223,602	93,124
Percentage of revenues	54.50%	140.10%
Brazil
Disclosure Of Operating Segments [Line Items]
Revenues	$ 84,025	$ 59,698	16,185
Percentage of revenues	40.80%	268.80%
Argentina
Disclosure Of Operating Segments [Line Items]
Revenues	$ 77,577	$ 50,165	33,179
Percentage of revenues	54.60%	51.20%
Mexico
Disclosure Of Operating Segments [Line Items]
Revenues	$ 68,000	$ 33,376	13,337
Percentage of revenues	103.70%	150.30%
Chile
Disclosure Of Operating Segments [Line Items]
Revenues	$ 52,464	$ 36,497	13,834
Percentage of revenues	43.70%	163.80%
Other countries
Disclosure Of Operating Segments [Line Items]
Revenues	$ 63,294	$ 43,866	16,589
Percentage of revenues	44.30%	164.40%
Asia and Africa
Disclosure Of Operating Segments [Line Items]
Revenues	$ 73,565	$ 20,518	$ 11,019
Percentage of revenues	258.50%	86.20%

Segment Reporting - Summary of Payments from/to Such Customers (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Operating Segments [Line Items]
Revenues	$ 418,925,000	$ 244,120,000	$ 104,143,000
LatAm
Disclosure Of Operating Segments [Line Items]
Revenues	345,360,000	223,602,000	93,124,000
Rest of Countries
Disclosure Of Operating Segments [Line Items]
Revenues	$ 0	$ 0	$ 0

- Definition

+ References

+ Details

Segment Reporting - Additional Information (Details)	12 Months Ended
Segment Reporting - Additional Information (Details)	Dec. 31, 2022 Merchant Country Customer	Dec. 31, 2021 Merchant Customer	Dec. 31, 2020 Customer
Disclosure Of Operating Segments [Line Items]
Number of countries in which revenues arise from operations \| Country	40
Percentage of revenue breakdown by region	10.00%
Number of merchants operated with \| Merchant	600	420
Percentage of revenue from top 10 merchants	50.00%	56.00%	64.00%
Number of customers accounted for more than 10% of total revenue on individual level \| Customer	0	1	2

Revenues and Cost of Services - Breakdown of Revenue From Contracts With Customers Per Type of Service (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disaggregation of Revenue from Contracts with Customers [Line Items]
Transaction revenues	$ 415,444	$ 241,814	$ 103,489
Other revenues	3,481	2,306	654
Revenues from payment processing	418,925	244,120	104,143
Cost of services	(216,758)	(113,677)	(44,065)
Gross profit	$ 202,167	$ 130,443	$ 60,078

- Definition

+ References

+ Details

Revenues and Cost of Services - Breakdown of Revenue From Contracts With Customers Per Type of Service (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Prepaid Assets
Disclosure of Disaggregation of Revenue from Contracts with Customers [Line Items]
Amortization charge related to prepaid assets	$ 567	$ 200	$ 67

Revenues and Cost of Services - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Transaction Revenues	$ 415,444	$ 241,814	$ 103,489
Reclassification
Disclosure of terms and conditions of share-based payment arrangement [line items]
Transaction Revenues		$ 7,397	$ 4,999

Revenues and Cost of Services - Summary of Cost of Services (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disaggregation of Revenue from Contracts with Customers [Line Items]
Processing costs	$ 206,223	$ 107,276	$ 41,655
Hosting expenses	4,331	3,351	1,257
Salaries and wages	1,411	706	497
Amortization of intangible assets	6,891	3,917	656
Cost of services	216,758	113,677	44,065
Internally Generated Software
Disclosure of Disaggregation of Revenue from Contracts with Customers [Line Items]
Amortization of intangible assets	$ 4,793	$ 2,344	$ 656

Revenues and Cost of Services - Summary of Cost of Services (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disaggregation of Revenue from Contracts with Customers [Line Items]
Net foreign exchange loss	$ 273
Net foreign exchange gain	14,559
Foreign exchange losses	$ 14,832	$ 2,100	$ 2,977

Technology and Development Expenses - Summary of Technology and Development Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	$ 6,348	$ 3,386	$ 2,005
Salaries and Wages
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	2,969	1,381	1,072
Software Licenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	1,294	487	292
Infrastructure Expenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	1,496	792	298
Information and Technology Security Expenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	298	176	161
Other Technology Expenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Total Technology and development expenses	$ 291	$ 550	$ 182

Sales and Marketing Expenses and General and Administrative Expenses - Summary of Sales and Marketing Expenses and General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total Sales and marketing expenses	$ 13,335	$ 5,916	$ 2,852
Total General and administrative expenses	48,343	40,637	22,188
Salaries and Wages
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total Sales and marketing expenses	10,800	5,126	2,518
Total General and administrative expenses	24,697	20,827	14,009
Marketing Expenses
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total Sales and marketing expenses	2,535	790	334
Third Party Services
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total General and administrative expenses	12,431	12,632	3,615
Office Expenses
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total General and administrative expenses	3,106	2,445	1,325
Travel and Other Operating Expenses
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total General and administrative expenses	4,755	2,330	2,903
Amortization and Depreciation
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Total General and administrative expenses	$ 3,354	$ 2,403	$ 336

Sales and Marketing Expenses and General and Administrative Expenses - Summary of Sales and Marketing Expenses and General and Administrative Expenses (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Secondary offering expenses	$ (89)	$ (5,158)	$ (453)
Intangible assets and costs related to potential acquisition of business			158
Other Non-Recurring Costs	2,014
Third Party Services
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Secondary offering expenses		5,158	$ 453
Other Non-Recurring Costs	$ 2,014
PrimeiroPay
Disclosure Of Sales And Marketing Expenses And General And Administrative Expenses [Line Items]
Transaction costs related to acquisition		$ 687

Employee Benefits - Additional Information (Details) - Employee	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Defined Benefit Plans [Line Items]
Full-time equivalents	726	539	310
Technology and Product Engineers and Related Roles
Disclosure Of Defined Benefit Plans [Line Items]
Percentage of employee benefits	40.00%	38.00%	38.00%

Employee Benefits - Summary of Employee Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Defined Benefit Plans [Line Items]
Salaries, wages and contractor fees	$ 42,550	$ 27,535	$ 13,785
Share-based payments	8,684	7,590	7,295
Total employee benefits	$ 51,234	$ 35,125	$ 21,080

Employee Benefits - Summary of Employee Benefits (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Defined Benefit Plans [Line Items]
Capitalized salaries and wages	$ 11,357	$ 7,085	$ 2,984

Amortization and Depreciation - Summary of Amortization and Depreciation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Property Plant And Equipment [Line Items]
Amortization of intangible assets	$ 6,891	$ 3,917	$ 656
Right-of-use asset amortization	518	453	181
Depreciation of Property, plant & equipment	738	377	155
Total Amortization and Depreciation	$ 8,147	$ 4,747	$ 992

Other Results - Summary of Other Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Other Results [Line Items]
Interest Income from Financial Instruments	$ 18,114	$ 2,556	$ 443
Fair value gains of financial assets at FVPL	(36)	(16)	9
Other finance income			50
Finance income	18,078	2,540	502
Finance expense related to derivative financial instruments	(18,763)
Other finance expense	(5,728)	(402)	(47)
Interest charges for lease liabilities	(177)	(142)	(20)
Finance costs	(24,668)	(544)	(67)
Inflation adjustment	(1,037)	(334)	38
Other results	$ (7,627)	$ 1,662	$ 473

Other Results - Summary of Other Results (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Other Results [Line Items]
Interest income on debt instruments investments	$ 18,114	$ 2,524	$ 427
COVID-19
Disclosure Of Other Results [Line Items]
Exoneration of three monthly installments amount			$ 50

Income Tax - Summary of Charge for Current Taxation Income Tax Rates on Taxable Profit (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Income tax rates	9.60%	8.90%	10.30%
Malta
Disclosure Of Income Taxes [Line Items]
Income tax rates	5.00%	35.00%	30.00%
Cayman Islands
Disclosure Of Income Taxes [Line Items]
Income tax rates	0.00%
Brazil
Disclosure Of Income Taxes [Line Items]
Income tax rates	34.00%
Colombia
Disclosure Of Income Taxes [Line Items]
Income tax rates	35.00%
Argentina
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Ecuador
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Uruguay
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Panama
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Paraguay
Disclosure Of Income Taxes [Line Items]
Income tax rates	10.00%
Nicaragua
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Rwanda
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Kenya
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Tanzania
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Uganda
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
United States of America
Disclosure Of Income Taxes [Line Items]
Income tax rates	21.00%
Ivory Coast
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
El Salvador
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
BANGLADESH
Disclosure Of Income Taxes [Line Items]
Income tax rates	32.50%
Dominican Republic
Disclosure Of Income Taxes [Line Items]
Income tax rates	27.00%
Israel
Disclosure Of Income Taxes [Line Items]
Income tax rates	23.00%
Mexico
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
India
Disclosure Of Income Taxes [Line Items]
Income tax rates	22.00%
Peru
Disclosure Of Income Taxes [Line Items]
Income tax rates	29.50%
Morocco
Disclosure Of Income Taxes [Line Items]
Income tax rates	10.00%
Egypt
Disclosure Of Income Taxes [Line Items]
Income tax rates	22.50%
South Africa
Disclosure Of Income Taxes [Line Items]
Income tax rates	28.00%
Nigeria
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Indonesia
Disclosure Of Income Taxes [Line Items]
Income tax rates	22.00%
Honduras
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Philippines
Disclosure Of Income Taxes [Line Items]
Income tax rates	20.00%
Singapore
Disclosure Of Income Taxes [Line Items]
Income tax rates	17.00%
Malaysia
Disclosure Of Income Taxes [Line Items]
Income tax rates	24.00%
Thailand
Disclosure Of Income Taxes [Line Items]
Income tax rates	20.00%
United Arab Emirates
Disclosure Of Income Taxes [Line Items]
Income tax rates	0.00%
Vietnam
Disclosure Of Income Taxes [Line Items]
Income tax rates	20.00%
Japan
Disclosure Of Income Taxes [Line Items]
Income tax rates	35.00%
Ghana
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Cameroon
Disclosure Of Income Taxes [Line Items]
Income tax rates	33.00%
Costa Rica
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Bottom of Range \| United Kingdom
Disclosure Of Income Taxes [Line Items]
Income tax rates	0.00%
Bottom of Range \| Argentina
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Bottom of Range \| Guatemala
Disclosure Of Income Taxes [Line Items]
Income tax rates	5.00%
Bottom of Range \| Chile
Disclosure Of Income Taxes [Line Items]
Income tax rates	27.00%
Bottom of Range \| Morocco
Disclosure Of Income Taxes [Line Items]
Income tax rates	20.00%
Top of Range \| United Kingdom
Disclosure Of Income Taxes [Line Items]
Income tax rates	19.00%
Top of Range \| Argentina
Disclosure Of Income Taxes [Line Items]
Income tax rates	35.00%
Top of Range \| Guatemala
Disclosure Of Income Taxes [Line Items]
Income tax rates	7.00%
Top of Range \| Chile
Disclosure Of Income Taxes [Line Items]
Income tax rates	10.00%
Top of Range \| Morocco
Disclosure Of Income Taxes [Line Items]
Income tax rates	31.00%

Income Tax - Summary of Charge for Current Taxation Income Tax Rates on Taxable Profit (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Income Taxes [Line Items]
Income tax rates	9.60%	8.90%	10.30%
Malta
Disclosure Of Income Taxes [Line Items]
Income tax rates	5.00%	35.00%	30.00%
Tax rate effect from change in tax rate	5.00%	5.00%	35.00%	35.00%
UK \| Dlocal OpCo UK LTD
Disclosure Of Income Taxes [Line Items]
Income tax rates	19.00%
UK \| Dlocal Corp LLP
Disclosure Of Income Taxes [Line Items]
Income tax rates	0.00%
Brazil
Disclosure Of Income Taxes [Line Items]
Income tax rates	34.00%
Brazil \| Imposto de Renda de Pessoa Juridica
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Brazil \| Contribuiyao Social sobre o Lucro Liquido
Disclosure Of Income Taxes [Line Items]
Income tax rates	9.00%
Argentina
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Argentina \| Progressive Rate 1
Disclosure Of Income Taxes [Line Items]
Income tax rates	25.00%
Argentina \| Progressive Rate 2
Disclosure Of Income Taxes [Line Items]
Income tax rates	30.00%
Argentina \| Progressive Rate 3
Disclosure Of Income Taxes [Line Items]
Income tax rates		35.00%
Chile
Disclosure Of Income Taxes [Line Items]
General tax rate	27.00%
Chile \| Propyme
Disclosure Of Income Taxes [Line Items]
General tax rate	10.00%
Morocco
Disclosure Of Income Taxes [Line Items]
Income tax rates	10.00%
Morocco \| Progressive Rate 1
Disclosure Of Income Taxes [Line Items]
Income tax rates	10.00%
Morocco \| Progressive Rate 2
Disclosure Of Income Taxes [Line Items]
Income tax rates	20.00%
Morocco \| Progressive Rate 3
Disclosure Of Income Taxes [Line Items]
Income tax rates	31.00%

Income Tax - Summary of Income Tax Charge Recognized in Profit and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Current Income Tax on profits for the year	$ (11,682)	$ (6,940)	$ (3,172)
Total Current Income Tax expense	(11,682)	(6,940)	(3,172)
Increase/(decrease) in deferred income tax assets	229	(83)	200
Increase in deferred income tax liabilities	(133)	(624)	(259)
Total Deferred income tax benefit / (expense)	96	(707)	(59)
Income Tax expense	$ (11,586)	$ (7,647)	$ (3,231)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Tax - Summary of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Deferred tax assets	$ 498	$ 373	$ 216
Tax Losses
Disclosure Of Income Taxes [Line Items]
Deferred tax assets	348	31	98
Accrued Liabilities
Disclosure Of Income Taxes [Line Items]
Deferred tax assets	99	318	79
Exchange Differences
Disclosure Of Income Taxes [Line Items]
Deferred tax assets			14
Other
Disclosure Of Income Taxes [Line Items]
Deferred tax assets	$ 51	$ 24	$ 25

Income Tax - Summary of Movements in Deferred Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Taxes [Line Items]
At January 1	$ 373	$ 216
(charged) / credited to profit & loss	125	157
At December 31	498	373
Tax Losses
Disclosure Of Income Taxes [Line Items]
At January 1	31	98
(charged) / credited to profit & loss	317	(67)
At December 31	348	31
Accrued Liabilities
Disclosure Of Income Taxes [Line Items]
At January 1		316
At January 1	318	79
(charged) / credited to profit & loss	(217)	237
At December 31		316
At December 31	99	318
Exchange Differences
Disclosure Of Income Taxes [Line Items]
At January 1		14
(charged) / credited to profit & loss	0	(14)
At December 31
Other
Disclosure Of Income Taxes [Line Items]
At January 1	24	25
At January 1	26	25
(charged) / credited to profit & loss	25	1
At December 31	51	24
At December 31	$ 51	$ 26

Income Tax - Summary of Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Deferred tax liabilities	$ 1,152	$ 1,123	$ 259
Accrued Receivables
Disclosure Of Income Taxes [Line Items]
Deferred tax liabilities	946	900	$ 259
Other
Disclosure Of Income Taxes [Line Items]
Deferred tax liabilities	$ 206	$ 223

Income Tax - Summary of Movements in Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Taxes [Line Items]
At January 1	$ 1,123	$ 259
(charged) / credited to profit & loss	29	864
At December 31	1,152	1,123
Accrued Receivables
Disclosure Of Income Taxes [Line Items]
At January 1	900	259
(charged) / credited to profit & loss	46	641
At December 31	946	900
Other
Disclosure Of Income Taxes [Line Items]
At January 1	223
(charged) / credited to profit & loss	(17)	223
At December 31	$ 206	$ 223

Income Tax - Additional Information (Details) - USD ($)	12 Months Ended
Income Tax - Additional Information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Income Taxes [Line Items]
Deferred tax liabilities	$ 1,152,000	$ 1,123,000	$ 259,000
Income tax rates	9.60%	8.90%	10.30%
Subsidiaries
Disclosure Of Income Taxes [Line Items]
Deferred tax liabilities	$ 0	$ 0
Malta
Disclosure Of Income Taxes [Line Items]
Income tax rates	5.00%	35.00%	30.00%
Tax rate effect from change in tax rate	5.00%	5.00%	35.00%	35.00%

Income Tax - Summary of Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Profit before Income Tax	$ 120,283	$ 85,500	$ 31,418
Tax at the domestic rates applicable to profit before income tax in the respective jurisdiction	(6,014)	(4,275)	(4,718)
Tax effect of non-taxable income	555	3,369	8,489
Tax effect on income tax refund on dividends			(2,197)
Effect from entities taxes in different rates	(5,440)	(3,127)	(4,254)
Other permanent differences	(687)	(3,614)	(551)
Income Tax expense	$ (11,586)	$ (7,647)	$ (3,231)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Tax - Summary of Reconciliation of Effective Tax Rate (Parenthetical) (Details) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]
Profit before Income Tax	$ 120,283	$ 85,500	$ 31,418
Subsidiaries
Disclosure Of Income Taxes [Line Items]
Profit before Income Tax		1,357
Tax effect of non-allowable expenses		678
Tax effect of non-deductible expenses	1,088	921
Other differences	$ 401	$ 658

Capital Management - Summary of Authorized Shares, Issued and Fully Paid-up Shares (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 07, 2021	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares authorized		1,500,000,000	1,500,000,000
Number of shares issued and fully paid		296,029,870	295,028,441
Share Capital, Beginning balance		295,028,441	268,598,000
i) Issue of common shares at USD 0.002		1,136,375	19,906,000
iii) Issue of common shares at the IPO			4,411,765
iv) Warrant excercise	2,112,676		2,112,676
v) Repurchase of shares		(134,946)
Share Capital, Ending balance		296,029,870	295,028,441
Authorized shares, Amount		$ 3,000	$ 3,000
Issued and fully paid up shares, Amount		592	590
Share Capital, Beginning balance		590	602
Share Premium, Beginning balance		157,151
i) Issue of common shares at USD 0.002		2	45
ii) Par value change			(70)
iii) Issue of common shares at the IPO			9
iv) Warrant exercise			4
Share Capital, Ending balance		592	590
Share Premium, Ending balance		$ 164,307	$ 157,151
Class A Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares authorized		1,000,000,000	1,000,000,000
Number of shares issued and fully paid		161,975,678	160,974,249
v) Repurchase of shares		134,946
Authorized shares, Amount		$ 2,000	$ 2,000
Issued and fully paid up shares, Amount		$ 324	$ 298
Class B Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares authorized		250,000,000	250,000,000
Number of shares issued and fully paid		134,054,192	134,054,192
Authorized shares, Amount		$ 500	$ 500
Issued and fully paid up shares, Amount		$ 268	$ 292
Undesignated Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares authorized		250,000,000	250,000,000
Authorized shares, Amount		$ 500	$ 500
Share Premium
Disclosure Of Classes Of Share Capital [Line Items]
Share Premium, Beginning balance		157,151	0
i) Issue of common shares at USD 0.002		9,177	70,111
ii) Par value change			70
iii) Issue of common shares at the IPO			86,441
iv) Warrant exercise			529
v) Repurchase of shares		(2,021)
Share Premium, Ending balance		$ 164,307	$ 157,151

Capital Management - Summary of Authorized Shares, Issued and Fully Paid Up Shares (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Apr. 14, 2021
Disclosure Of Classes Of Share Capital [Line Items]
Nominal value	$ 1.1211		$ 1.1211
Correspondent charge to capital reserve recycled	$ 5,240	$ 6,898
Share Premium
Disclosure Of Classes Of Share Capital [Line Items]
Nominal value	$ 0.002
Share Capital Evolution
Disclosure Of Classes Of Share Capital [Line Items]
Nominal value	0.002
Class A Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Ordinary shares authorized per share	0.002
Nominal value	0.002	$ 0.002
Class B Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Ordinary shares authorized per share	0.002
Nominal value	0.002	$ 0.002
Undesignated Shares
Disclosure Of Classes Of Share Capital [Line Items]
Ordinary shares authorized per share	$ 0.002

Capital Management - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands						12 Months Ended
	Sep. 07, 2021	Jun. 03, 2021	Jun. 02, 2021	Apr. 14, 2021	Mar. 03, 2021	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares issued		4,411,765
Exercise of options						1,136,375	15,685,000
Correspondent charge to capital reserve recycled						$ 5,240	$ 6,898
Par value change per share				$ 1.1211		$ 1.1211
Par value received				$ 1
Share split for shareholders		500-for-1 share split
Market price		$ 86,450
Market price per share		$ 21.0
Net issuance of exercised warrants	2,112,676						2,112,676
Exercise of warrants per share	$ 65.14
Repurchase of shares						(134,946)
Payment for repurchase of shares						$ 2,021
Dilutive effect of potential ordinary shares						439,987
Class A Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares issued						1,136,375	19,906,000
Proceeds from issuance of shares						$ 3,939	$ 63,177
Exercise of options			45,000		4,221,000		15,640,000
Share-options exercise			$ 98		$ 31,401		$ 31,678
Par value change per share						$ 0.002	$ 0.002
Repurchase of shares						134,946
Payment for repurchase of shares						$ 2,021
Class B Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Par value change per share						$ 0.002	$ 0.002
Par Value of 1 U.S. Dollars
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares exchanged		577,008
Par value of shares exchanged		$ 1
Par Value 0.002 U.S. Dollars
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares exchanged		288,504,000
Par value of shares exchanged		$ 0.002

Capital Management - Summary of Breakdown of Capital Reserves and Movements in Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Capital Reserve [Line Items]
Capital Reserve, Beginning balance	$ 12,741	$ 12,582	$ 5,287
Share-options exercise	(5,240)	(6,898)
Share-based payments charges		7,596	7,295	$ 9,580
Forfeitures	(896)	(6)
Warrant exercise		(533)
Capital Reserve, Ending balance	$ 16,185	$ 12,741	$ 12,582	$ 5,287

Capital Management - Summary of Breakdown of Capital Reserves and Movements in Reserves (Parenthetical) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Exercise of options	1,136,375	15,685,000

Capital Management - Summary of Breakdown of Reserves and Movements in Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Capital Reserve [Line Items]
Reserves, Beginning balance	$ (30)	$ 119	$ 14
Movement of other reserves	(1,418)	(149)	105
Reserves, Ending balance	$ 1,448	$ (30)	$ 119

Capital Management - Summary of Movements in Retained Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Retained Earnings [Line Items]
Retained earnings, Beginning balance	$ 109,867	$ 31,749	$ 18,460
Comprehensive income for the period	108,717	77,955	28,224
Transaction between shareholders			163
Distribution of retained earnings			(15,000)
Retained earnings, Ending balance	219,993	109,867	31,749
Retained Earnings
Disclosure Of Retained Earnings [Line Items]
Comprehensive income for the period	$ 110,126	$ 78,118	28,126
Transaction between shareholders			163
Distribution of retained earnings			$ (15,000)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

Capital Management - Summary of the Information Used as Base for Calculating Diluted Earnings Per Share (Details) - USD ($)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Earnings per share [abstract]

Profit attributable to equity shareholders (U.S. Dollars)

$ 108,682,969

$ 77,875,575

$ 28,183,840

Weighted average number of common shares

295,623,702

287,121,304

268,598,000

Adjustments for calculation of diluted earnings per share

^[1]

17,514,944

21,809,000

16,242,000

Weighted average number of ordinary shares for calculating diluted earnings per share*

313,138,646

308,930,304

284,840,000

Basic earnings per share

$ 0.37

$ 0.27

$ 0.10

Diluted earnings per share

$ 0.35

$ 0.25

$ 0.10

[1]

Capital Management - Summary of the Information Used as Base for Diluted Earnings Per Share Calculation (Parenthetical) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Average shares related to share-based payment warrants	14,865,332	16,353,000	8,491,539
Average shares related to share-based payment plans with employees	2,649,612	5,456,000	567,993

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of cash and cash equivalents [line items]
Own Balances	$ 247,833	$ 227,913
Merchant Clients Funds	220,259	108,284
Cash and cash equivalents	$ 468,092	$ 336,197	$ 111,733	$ 34,765

Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of cash and cash equivalents [line items]
Cash on hand, demand deposits with financial institutions and other short-term liquid financial instruments	$ 468,092	$ 336,197
Merchant clients funds yet to transfer to own funds accounts	$ 38,119	$ 7,827

Financial Assets at Fair Value Through Profit or Loss - Summary of Financial Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Assets At Fair Value Through Profit Or Loss [Line Items]
Debt instruments	$ 1,295	$ 1,004
Total financial assets at fair value through profit or loss	$ 1,295	$ 1,004

Financial Assets at Fair Value Through Profit or Loss - Summary of Gain (Losses) Recognized in Profit or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial Assets At Fair Value Through Profit Or Loss [Line Items]
Fair Value Movement transferred to profit and loss	$ (36)	$ (16)	$ (9)
At End of Year	$ (36)	$ (16)	$ 9

Trade and Other Receivables - Summary of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Trade and Other Receivables [Line Items]
Trade receivables	$ 218,922	$ 179,199
Loss allowance	(280)	(322)	$ (341)
Trade receivables net	218,642	178,877
Advances and other receivables	21,804	12,089
Total trade and other current receivables	$ 240,446	$ 190,966

Trade and Other Receivables - Summary of Loss Allowance and Impairment Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Trade and Other Receivables [Line Items]
Beginning balance	$ (322)	$ (341)
Decrease/(increase) in loss allowance for trade receivables	42	(33)
Reversals for decrease in loss rate		52
Ending balance	(280)	(322)
Net impairment gain/(loss) on financial assets	$ 42	$ (33)

Trade and Other Receivables - Additional Information (Details)	Dec. 31, 2022	Dec. 31, 2021
0-30 Days
Trade and Other Receivables [Line Items]
Expected credit loss rate	0.20%	0.40%

Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Money held in escrow for:	$ 43,814	$ 211
Advance payments to merchants	12,863
Rental guarantees	112	561
Prepaid assets		567
Deposits in brokers	5,576
Loss allowance	(5,576)
Total current Other Assets	56,789	1,339	$ 56,789
Stand by Credit Letters Required by Merchants
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Money held in escrow for:	18,575
Banks requirements
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Money held in escrow for:	19,988
Processors and Others Requirements
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Money held in escrow for:	1,688	80
Credit Card Requirements
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Money held in escrow for:	$ 3,563	$ 131

Other Assets - Summary of Other Assets (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Nov. 11, 2022
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Reduced asset due to reduction of revenues	$ 567	$ 200
Percentage of retained the transacted volume	90.00%	90.00%
Deposits in brokers	$ 5,576
FTX Trading Ltd
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Deposits in brokers	5,600		$ 5,576
Agreement
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Agreed to pay merchant in exchange of a minimum amount of revenue	$ 360	$ 360

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	$ 2,485	$ 913
Additions	987	1,949
Depreciation of the year	(738)	(377)	$ (155)
Property, plant and equipment, opening book value, Total	2,734	2,485	913
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	3,080	1,131
Property, plant and equipment, opening book value, Total	4,067	3,080	1,131
Accumulated Amortization
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	(595)	(218)
Property, plant and equipment, opening book value, Total	(1,333)	(595)	(218)
Computer Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	1,270	427
Additions	987	1,178
Depreciation of the year	(562)	(335)
Property, plant and equipment, opening book value, Total	1,695	1,270	427
Computer Equipment \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	1,823	645
Property, plant and equipment, opening book value, Total	2,810	1,823	645
Computer Equipment \| Accumulated Amortization
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	(553)	(218)
Property, plant and equipment, opening book value, Total	(1,115)	(553)	(218)
Building Improvements
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	1,215
Transfers		1,257
Depreciation of the year	(176)	(42)
Property, plant and equipment, opening book value, Total	1,039	1,215
Building Improvements \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	1,257
Property, plant and equipment, opening book value, Total	1,257	1,257
Building Improvements \| Accumulated Amortization
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value	(42)
Property, plant and equipment, opening book value, Total	$ (218)	(42)
Work in Progress
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value		486
Additions		771
Transfers		(1,257)
Property, plant and equipment, opening book value, Total			486
Work in Progress \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Opening book value		$ 486
Property, plant and equipment, opening book value, Total			$ 486

Property, Plant and Equipment - Additional Information (Details) - Computer Equipment - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Property Plant And Equipment [Line Items]
Impairment loss recognized	$ 0	$ 0
Reversal of impairment losses	$ 0	$ 0

Leases - Summary of Lease Amounts Recognized in Consolidated Statements of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Leases [Line Items]
Right-of-use assets	$ 3,934	$ 3,915
Lease liabilities
Current	686	502
Non-current	3,393	3,426
Lease liabilities	4,079	3,928	$ 218
Offices
Disclosure Of Leases [Line Items]
Right-of-use assets	$ 3,934	$ 3,915

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Leases [Line Items]
Additions to right-of-use assets	$ 328	$ 3,727
Principal cash outflow for leases	$ 386	$ 430
Malta
Disclosure Of Leases [Line Items]
Leases contract term	one year or less
Israel
Disclosure Of Leases [Line Items]
Leases contract term	one year or less
Uruguay \| Dlocal Technologies S.A.
Disclosure Of Leases [Line Items]
Lease contract term	4 years
Lease extended term	5 years
Description of lease extended term	The term of 4 years can be extended for periods of 5 years, unless any of the parties informs the other of its decision to terminate with at least 120 days anticipation of the expiry date.
Incremental borrowing rate	6.52%
Uruguay \| Dlocal Technologies S.A. \| First year
Disclosure Of Leases [Line Items]
Lease payment structure	$ 140
Uruguay \| Dlocal Technologies S.A. \| Second year
Disclosure Of Leases [Line Items]
Lease payment structure	153
Uruguay \| Dlocal Technologies S.A. \| Third year
Disclosure Of Leases [Line Items]
Lease payment structure	171
Uruguay \| Dlocal Technologies S.A. \| Fourth year
Disclosure Of Leases [Line Items]
Lease payment structure	$ 175
Brazil
Disclosure Of Leases [Line Items]
Leases contract term	one year or less
China
Disclosure Of Leases [Line Items]
Leases contract term	one year or less
Chile
Disclosure Of Leases [Line Items]
Leases contract term	one year or less

Leases - Summary of Lease Amounts Recognized in Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Leases [Line Items]
Amortization of right of use assets	$ 518	$ 453
Interest charges for lease liabilities (included within Finance Costs line item)	177	142
Leases expense for short-term leases (included within General and administrative expense line item)	332	173
Offices
Disclosure Of Leases [Line Items]
Amortization of right of use assets	$ 518	$ 453

Intangible Assets - Schedule of Detailed Information About Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Intangible Assets [Line Items]
Net book amount	$ 46,969
Amortization of the period	(6,891)	$ (3,917)	$ (656)
Net book amount	51,443	46,969
Internally Generated Software
Disclosure Of Intangible Assets [Line Items]
Amortization of the period	$ (4,793)	$ (2,344)	$ (656)

Intangible Assets - Schedule of Detailed Information About Intangible Assets (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Capitalized Salaries and Wages
Disclosure Of Intangible Assets [Line Items]
Additions	$ 11,357	$ 7,085

Intangible Assets - Additional Information (Details) - USD ($)		12 Months Ended
	Mar. 11, 2021	Dec. 31, 2021
Disclosure Of Intangible Assets [Line Items]
Consideration value	$ 40,000.0
Estimated amortization period of intangible assets		18 years 9 months
PrimeiroPay
Disclosure Of Intangible Assets [Line Items]
Contingent consideration	1,330,000
Consideration value	39,335,000
Cash consideration	38,670,000
Contingent consideration at fair value	$ 665,000
Estimated amortization period of intangible assets	18 years 9 months

Intangible Assets - Summary of Purchase Consideration (Details)	Mar. 11, 2021 USD ($)
Purchase consideration
Total Purchase Consideration	$ 40,000.0
PrimeiroPay
Purchase consideration
Cash transferred	38,670,000
Contingent consideration at fair value	665,000
Total Purchase Consideration	$ 39,335,000

Trade and Other Payables - Summary of Trade and Other Payables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Trade and Other Payables [Line Items]
Trade Payables	$ 395,134	$ 269,227
Accrued Liabilities	5,801	3,173
Other Payables	6,939	4,760
Total Trade and other payables	$ 407,874	$ 277,160

Borrowings - Additional Information (Details) $ in Thousands, R$ in Millions		12 Months Ended
	Apr. 19, 2022 BRL (R$)	Dec. 31, 2022 USD ($)	Apr. 19, 2022 USD ($)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2021 USD ($)
Disclosure of detailed information about borrowings [abstract]
Borrowings	R$ 37.5		$ 14,782	R$ 27.0	$ 5,000
Borrowings, interest rate				1.85%	1.85%
Notional amount					$ 5,014
Borrowings, interest rate basis	1.70
Borrowings, adjustment to interest rate basis	118.14%		118.14%
Repayments of borrowings		$ 21,567

Tax Liabilities - Summary of Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Tax Liabilities [Abstract]
Income tax payable	$ 6,047	$ 1,940
Other tax liabilities	5,648	11,186
Income tax perception	2,792	7,490
Digital services VAT withholding	2,555	2,796
Other Taxes	301	900
Total Tax Liabilities	$ 11,695	$ 13,126

Derivative Financial Instruments - Additional Information (Details) $ in Thousands		12 Months Ended
	Mar. 03, 2021 shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares
Disclosure Of Derivative Financial Instruments [Line Items]
Outstanding options to purchase common shares \| shares		3,534,561	4,032,345	17,361,000
Right exercised \| shares		1,136,375	15,685,000
Derivative financial liability		$ 544	$ 221	$ 2,896
Net foreign exchange gain (loss)		14,559
Foreign exchange loss		(14,832)	(2,100)	$ (2,977)
Investor \| Class A Ordinary Shares
Disclosure Of Derivative Financial Instruments [Line Items]
Right exercised \| shares	18,068,000
Costs of services
Disclosure Of Derivative Financial Instruments [Line Items]
Net foreign exchange gain (loss)		14,559	$ 322
Finance costs
Disclosure Of Derivative Financial Instruments [Line Items]
Net foreign exchange gain (loss)		$ 18,763
Top of Range \| Investor
Disclosure Of Derivative Financial Instruments [Line Items]
Outstanding options to purchase common shares \| shares			18,068,000

Derivative Financial Instruments - Summary of Short-term Derivative Contracts (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Derivative financial instruments	$ 544,000	$ 221,000	$ 2,896,000
Other Derivative Financial Instruments
Disclosure of detailed information about financial instruments [line items]
Derivative financial instruments	(662,000)	221,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Brazilian Real/Reais
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	22,436,774	5,500,000
Derivative financial instruments	(122,000)	152,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Argentinean Peso
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	6,600,000	2,500,000
Derivative financial instruments	6,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Indian Rupee
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	5,920,282,000	1,000,000
Derivative financial instruments	(2,000)	14,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| South African Rand
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	5,176,642,000	4,000,000
Derivative financial instruments	235,000	47,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Egyptian Pound
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	12,979,395,000
Derivative financial instruments	(1,002,000)
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Nigerian naira
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	8,863,831,000
Derivative financial instruments	(15,000)
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy USD \| Costa Rican Colon
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	159,000,000
Derivative financial instruments	12,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Sell USD \| Brazilian Real/Reais
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	(959,141)
Derivative financial instruments	15,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Sell USD \| Indian Rupee
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	(566,948,000)
Derivative financial instruments	(1,000)
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Sell USD \| South African Rand
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	(2,626,458,000)
Derivative financial instruments	11,000
Other Derivative Financial Instruments \| Non-Delivery Forwards \| Buy EUR \| Moroccan Dirham
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	6,834,496,000
Derivative financial instruments	31,000
Other Derivative Financial Instruments \| Delivery Forwards \| Buy USD \| Chilean Peso
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	18,750,385,000	12,391,928
Derivative financial instruments	250,000	$ 8,000
Other Derivative Financial Instruments \| Delivery Forwards \| Buy USD \| Uruguayan Peso
Disclosure of detailed information about financial instruments [line items]
Notional amount in USD	2,240,602,000
Derivative financial instruments	$ (48,000)

Provisions - Summary of Movements in Labor Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Provisions [abstract]
Carrying amount, beginning balance	$ 1,710	$ 1,393
Additional charge to labor provision		317
Reversal to labor provision	(419)
Interest charges for labor provision	182
Carrying amount, ending balance	$ 1,473	$ 1,710

Intangible Assets - Summary of Intangible Assets Related to Internally Generated Software (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Intangible Assets [Line Items]
Net book amount	$ 46,969
Amortization of the period	(6,891)	$ (3,917)	$ (656)
Net book amount	$ 51,443	$ 46,969

Other Contingent Assets, Liabilities and Commitments - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Contingent Assets Liabilities And Commitments [Line Items]
Money Held In Escrow Current	$ 43,814	$ 211
Payment Processing Service Agreements
Disclosure Of Other Contingent Assets Liabilities And Commitments [Line Items]
Standby letter of credit issued		6,330
dLocal Group Limited
Disclosure Of Other Contingent Assets Liabilities And Commitments [Line Items]
Contingent assets	0	0
Contingent liabilities	$ 0	$ 0

Offsetting Financial Assets and Financial Liabilities - Summary of Recognized Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	$ 772,186	$ 535,479
Financial assets, Gross amounts set off	(4,358)	(5,973)
Financial assets, Net amounts presented	767,828	529,506
Financial liabilities, Gross amounts	428,809	292,296
Financial liabilities, Gross amounts set off	(16,312)	(5,973)
Financial liabilities, Net amounts presented	412,497	286,323
Cash and Cash Equivalents
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	468,092	336,197
Financial assets, Net amounts presented	468,092	336,197
Financial Assets at FVPL
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	1,295	1,004
Financial assets, Net amounts presented	1,295	1,004
Trade and Other Receivables
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	244,804	196,939
Financial assets, Gross amounts set off	(4,358)	(5,973)
Financial assets, Net amounts presented	240,446	190,966
Other Assets
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	56,789	1,339
Financial assets, Net amounts presented	56,789	1,339
Trade and Other Payables
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial liabilities, Gross amounts	424,186	283,133
Financial liabilities, Gross amounts set off	(16,312)	(5,973)
Financial liabilities, Net amounts presented	407,874	277,160
Lease Liabilities
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial liabilities, Gross amounts	4,079	3,928
Financial liabilities, Net amounts presented	4,079	3,928
Financial Liabilities
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial liabilities, Gross amounts		5,014
Financial liabilities, Net amounts presented		5,014
Derivative Financial Instruments
Disclosure Of Offsetting Of Financial Assets [Line Items]
Financial assets, Gross amounts	1,206
Financial assets, Net amounts presented	1,206
Financial liabilities, Gross amounts	544	221
Financial liabilities, Net amounts presented	$ 544	$ 221

Related Parties - Summary of Compensation of Executive Team and Directors (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Transactions Between Related Parties [Line Items]
Short-term employee benefits – salaries and wages	$ 1,767	$ 1,900
Long-term employee benefits – share-based payment	3,351	7,590
Key management compensation	$ 5,118	$ 9,490

Related Parties - Summary of Transaction with Other Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Merchants
Disclosure of Transactions Between Related Parties [Line Items]
Transactions with merchants - revenues	$ 1,158	$ 2,030
Preferred Suppliers
Disclosure of Transactions Between Related Parties [Line Items]
Transactions with preferred suppliers (Collection agents) - Costs	$ (621)	$ (561)

Related Parties - Summary of Outstanding Balances from Transactions with Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Merchants
Disclosure of Transactions Between Related Parties [Line Items]
Trade receivables	$ 428
Trade payables	(482)	$ (622)
Preferred Suppliers
Disclosure of Transactions Between Related Parties [Line Items]
Trade receivables	552	6,058
Trade payables	$ (1,258)	$ (125)

Cash Flow Disclosures - Summary of Most Significant Non-Cash Transaction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non Cash Transaction [Line Items]
Right-of-use asset recognition with an increase in Lease liabilities	$ (328)	$ (3,915)	$ (188)

Cash Flow Disclosures - Summary of Net Debt and the Movements in Net Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Borrowings [Line Items]
Cash and cash equivalents	$ 468,092	$ 336,197	$ 111,733	$ 34,765
Financial assets at fair value through profit or loss	1,295	1,004	8,319
Borrowings		(5,014)
Lease liabilities	(4,079)	(3,928)	(218)
Derivative financial instrument	(544)	(221)	(2,896)
Net cash/(debt)	464,764	328,038	116,938
Cash and liquid investments	469,387	337,201	120,052
Gross debt – fixed interest rates	$ (4,623)	$ (9,163)	$ (3,114)

Cash Flow Disclosures - Summary of Movements in Debt That Impact Cash Flow as Part of Financing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Borrowings [Line Items]
Beginning balance	$ 328,038	$ 116,938
Ending balance	464,764	328,038	$ 116,938
IAS 7
Borrowings [Line Items]
Beginning balance	328,038	116,938	49,765
Leases	(328)	(4,282)
Cash flows	121,291	209,960	69,587
Fair value changes	17,534	5,436	(2,887)
Lease benefit for COVID-19			50
Other Changes	(1,771)	(14)	423
Ending balance	464,764	328,038	116,938
Sub-total \| IAS 7
Borrowings [Line Items]
Beginning balance	(9,163)	(3,114)	(399)
Leases	(328)	(4,282)
Cash flows	7,183	(4,428)	151
Fair value changes	(544)	2,675	(2,896)
Lease benefit for COVID-19			50
Other Changes	(1,771)	(14)	(20)
Ending balance	(4,623)	(9,163)	(3,114)
Interest Bearing Borrowings \| IAS 7
Borrowings [Line Items]
Beginning balance	(5,014)
Cash flows	6,785	(5,000)
Other Changes	(1,771)	(14)
Ending balance		(5,014)
Lease Liabilities \| IAS 7
Borrowings [Line Items]
Beginning balance	(3,928)	(218)	(399)
Leases	(328)	(4,282)
Cash flows	177	572	151
Lease benefit for COVID-19			50
Other Changes			(20)
Ending balance	(4,079)	(3,928)	(218)
Derivative Financial Instrument \| IAS 7
Borrowings [Line Items]
Beginning balance	(221)	(2,896)
Cash flows	221
Fair value changes	(544)	2,675	(2,896)
Ending balance	(544)	(221)	(2,896)
Cash and Cash Equivalents \| IAS 7
Borrowings [Line Items]
Beginning balance	336,197	111,733	34,765
Cash flows	113,781	224,464	76,968
Fair value changes	18,114
Ending balance	468,092	336,197	111,733
Financial Assets at FVPL \| IAS 7
Borrowings [Line Items]
Beginning balance	1,004	8,319	15,399
Cash flows	327	(10,076)	(7,532)
Fair value changes	(36)	2,761	9
Other Changes			443
Ending balance	$ 1,295	$ 1,004	$ 8,319

Financial Risk Management - Summary of Maximum Exposure to Credit Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Financial Instruments [Line Items]
Cash and cash equivalents	$ 468,092	$ 336,197	$ 111,733	$ 34,765
FVPL	1,295	1,004
Trade and Other Receivables	240,446	190,966
Derivative Financial Instrument	1,206
Other Assets	56,789	1,339
Maximum exposure to credit risk	$ 767,828	$ 529,506

Financial Risk Management - Summary of Credit Risk Rating for Trade and Other Receivables at Geographical Regions (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	$ 240,446	$ 190,966
A
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	18,880	20,839
AAA
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	2,213
B
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	11,043	4,041
BB
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	137,286	103,322
BBB
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	29,161	26,960
CCC
Disclosure of detailed information about financial instruments [line items]
Trade and Other Receivables	$ 41,863	$ 35,804

Financial Risk Management - Summary of contractual undiscounted cash flows (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	$ 411,953	$ 286,102
Non Derivatives \| Trade and Other Payables
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	407,874	277,160
Non Derivatives \| Financial Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives		5,014
Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	4,079	3,928
Derivatives
Disclosure of Financial Instruments [Line Items]
Total derivatives	544	221
Derivatives \| Derivative Financial Instruments
Disclosure of Financial Instruments [Line Items]
Total derivatives	544	221
Less than 6 months \| Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	408,170	282,378
Less than 6 months \| Non Derivatives \| Trade and Other Payables
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	407,874	277,160
Less than 6 months \| Non Derivatives \| Financial Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives		5,014
Less than 6 months \| Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	296	204
Less than 6 months \| Derivatives
Disclosure of Financial Instruments [Line Items]
Total derivatives	544	221
Less than 6 months \| Derivatives \| Derivative Financial Instruments
Disclosure of Financial Instruments [Line Items]
Total derivatives	544	221
6-12 months \| Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	394	299
6-12 months \| Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	394	299
Between 1 and 2 years \| Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	546	462
Between 1 and 2 years \| Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	546	462
More than 2 years \| Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	3,628	3,878
More than 2 years \| Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	3,628	3,878
Total Contractual cash flows \| Non Derivatives
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	412,738	287,017
Total Contractual cash flows \| Non Derivatives \| Trade and Other Payables
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	407,874	277,160
Total Contractual cash flows \| Non Derivatives \| Financial Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives		5,014
Total Contractual cash flows \| Non Derivatives \| Leases Liabilities
Disclosure of Financial Instruments [Line Items]
Total non-derivatives	4,864	4,843
Total Contractual cash flows \| Derivatives
Disclosure of Financial Instruments [Line Items]
Total derivatives	544	221
Total Contractual cash flows \| Derivatives \| Derivative Financial Instruments
Disclosure of Financial Instruments [Line Items]
Total derivatives	$ 544	$ 221

Financial Risk Management - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€)
Disclosure of Financial Instruments [Line Items]
Minimum capital requirement imposed by regulator	€ 400

Fair Value Hierarchy - Summary of Financial Instruments Measured at Amortized Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Financial Instruments [Line Items]
FVPL	$ 2,501	$ 1,004
Amortized cost	765,327	528,502
Total	767,828	529,506
FVPL	(544)		$ (886)
Amortized cost	(411,953)		(286,102)
Total	412,497		286,988
Financial Assets at Fair Value through Profit or Loss
Disclosure of Financial Instruments [Line Items]
FVPL	1,295	1,004
Total	1,295	1,004
Other Assets
Disclosure of Financial Instruments [Line Items]
Amortized cost	56,789	1,339
Total	56,789	1,339
Trade and Other Receivables
Disclosure of Financial Instruments [Line Items]
Amortized cost	240,446	190,966
Total	240,446	190,966
Cash and Cash Equivalents
Disclosure of Financial Instruments [Line Items]
Amortized cost	468,092	336,197
Total	468,092	336,197
Lease Liabilities
Disclosure of Financial Instruments [Line Items]
Amortized cost	(4,079)	(3,928)
Total	(4,079)	(3,928)
Trade and Other Payables
Disclosure of Financial Instruments [Line Items]
Amortized cost	(407,874)	(277,160)
Total	407,874	277,160
Financial Liabilities
Disclosure of Financial Instruments [Line Items]
Amortized cost		(5,014)
Total	5,014
Contingent Consideration Liability
Disclosure of Financial Instruments [Line Items]
Total		665
Contingent Consideration Liability \| Financial Assets at Fair Value through Profit or Loss
Disclosure of Financial Instruments [Line Items]
FVPL		(665)
Derivative Financial Instruments
Disclosure of Financial Instruments [Line Items]
FVPL	1,206
Total	1,206
FVPL	(544)
Total	544	221
Derivative Financial Instruments \| Financial Assets at Fair Value through Profit or Loss
Disclosure of Financial Instruments [Line Items]
FVPL		(221)
Level 1
Disclosure of Financial Instruments [Line Items]
Total	1,295	1,004
Level 1 \| Financial Assets at Fair Value through Profit or Loss
Disclosure of Financial Instruments [Line Items]
Total	1,295	1,004
Level 2
Disclosure of Financial Instruments [Line Items]
Total	1,206
Total	544	221	$ (665)
Level 2 \| Derivative Financial Instruments
Disclosure of Financial Instruments [Line Items]
Total	1,206
Total	$ 544	221
Level 3 \| Contingent Consideration Liability
Disclosure of Financial Instruments [Line Items]
Total		$ 665

Fair Value Hierarchy - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Disclosure of Financial Instruments [Line Items]
Financial liabilities		$ 286,988	$ 412,497
Contingent Consideration Liability
Disclosure of Financial Instruments [Line Items]
Financial liabilities	$ 665
Level 3
Disclosure of Financial Instruments [Line Items]
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities	0	$ 0
Level 3 \| Contingent Consideration Liability
Disclosure of Financial Instruments [Line Items]
Financial liabilities	665
Level 2 and 3
Disclosure of Financial Instruments [Line Items]
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities	$ 0

- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + Details

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 05, 2023	Dec. 31, 2022
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Repurchase Of Shares		(134,946)
Payment for repurchase of shares		$ 2,021
Class A Ordinary Shares
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Repurchase Of Shares		134,946
Payment for repurchase of shares		$ 2,021
Repurchase of shares \| Class A Ordinary Shares
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Repurchase Of Shares	2,652,211
Payment for repurchase of shares	$ 41,336