Payments Startup DLocal Said to Confidentially File for IPO

DLocal, a payments startup, has confidentially filed for a U.S. initial public offering, according to people with knowledge of the matter.

The Montevideo, Uruguay-based company is working with banks including JPMorgan Chase & Co. on a listing that could occur as soon as this year, one of the people said. Timing hasn’t been finalized and could still change. DLocal is set to be valued at more than $5 billion in any listing, the people said.