Sebastian Rodriguez

Welcome, everybody. My name is Sebastian Rodriguez. I'm the Managing Director with the Fintech Investment Banking franchise, and I'm joined today by Pedro Arnt, who is CEO of dLocal, one of the very high growth and interesting stories in fintech that I had the pleasure of covering.

So thank you, first and foremost, Pedro, for making the time today to join us and attend our conference. I thought I'd start our conversation a little bit where you kind of remind us what are some of those competitive advantages? What are some of those distinctive elements of the dLocal story that you think place you best or makes you great within the ecosystem?

Pedro Arnt
CEO & Director

Yes. So thanks for having me. I think it's been 2 years that I hadn't been back. Great to be here. The investment thesis, and I think understanding why we add so much value to our merchant starts with understanding how different payment ecosystems and financial infrastructure ecosystems are between the developed world and the emerging world. And the emerging world is characterized by extreme fragmentation, very different payments ecosystems from one market to the next and in many instances, legacy technology that is hard to optimize on.

And so if you're one of our large enterprise clients whose core markets, payments are a bit of an afterthought for you because everything runs quite well. And you're now figuring out your go-to-market strategy for the emerging world, very quickly, you realize that payments is a significant friction point and bottleneck to growth. But you also realize that if you