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3 Latin American Fintechs That Are Growing Faster Than You Think
Every fintech is not the same. Even if you narrow your focus to Latin America, MercadoLibre (MELI 1.85%), **DLocal **(DLO 3.03%), and Nu Holdings (NU 1.55%) are three very different companies. There may be some overlap in offerings, but they have unique specialties as well as territorial ambitions.
One thing they all have in common is spectacular growth. MercadoLibre, DLocal, and Nu grew their revenue by 45%, 65%, and 57%, respectively, in their latest quarters. This isn’t a race, but consider that the two U.S. companies many investors think of in the world of fintech both grew their top lines by roughly 4% over the same three months. There’s also the bonus of opportunity with Mercado Libre, DLocal, and Nu trading at 38%, 28%, and 27%, respectively, off their recent highs. Let’s travel south to check out three companies with businesses heading north as their stocks go south.
Image source: Getty Images.
As one of Latin America’s largest companies by market cap, MercadoLibre doesn’t need much of an introduction. Typically labeled as an e-commerce business – because that’s where it started – its biggest gains these days are coming from the financial front.
The $83.4 billion that its Mercado Pago subsidiary helped facilitate in payment volume during its latest quarter was 4 times higher than the gross merchandise value on the e-commerce front. The business is also growing faster than its online retail sales volume.
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NASDAQ: MELI
MercadoLibre
Today’s Change
(-1.85%) $-30.91
Current Price
$1636.02
Key Data Points
Market Cap
$83B
Day’s Range
$1632.48 - $1670.92
52wk Range
$1631.18 - $2645.22
Volume
24K
Avg Vol
566K
Gross Margin
44.50%
MercadoLibre stock is the hardest hit of the three stocks on this list. The shares are down almost 40% from the all-time highs they notched last summer. This doesn’t mean it’s also the cheapest of the three names. MercadoLibre is trading at a beefy 30 times this year’s projected earnings. Thankfully, the multiple drops below 22 if we look out to next year.
Margins are currently being pressured. Competitive challenges in Brazil – its largest market – find it taking a hit by lowering the order size requirement for free shipping.
Latin American fintech stocks are still worth your due diligence. Superior growth, historically potent net margins, and serving a region still early in the online migration make MercadoLibre and its peers worth watching.
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NASDAQ: DLO
DLocal
Today’s Change
(-3.03%) $-0.38
Current Price
$12.15
Key Data Points
Market Cap
$3.6B
Day’s Range
$12.07 - $12.55
52wk Range
$7.26 - $16.78
Volume
72K
Avg Vol
1.2M
Gross Margin
36.61%
Uruguay-based DLocal is laser-focused on processing payments. It was one of Thursday’s biggest gainers, rising nearly 10% in an otherwise down day for the market following blowout results. Revenue rose 65% for the quarter, fueled by a 70% surge in total payment volume.
It’s currently the most geographically diversified player of the three. No single country accounts for more than 19% of its revenue. A little over 20% of its business last year came from outside of Latin America (primarily Egypt, as well as other countries in Africa and Asia). It helps that the tech-first platform is a rising star in managing cross-border payments, accounting for half of its payment volume in 2025.
Net income rose 63%, and adjusted free cash flow more than doubled. That last point is particularly noteworthy for income investors, since DLocal aims to distribute 30% of its free cash flow to shareholders in the form of a springtime dividend. DLocal’s distribution of $0.19 a share in June translates into a 1.5% yield, a decent payout for a stock investors are buying for its high-octane growth.
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NYSE: NU
Nu Holdings
Today’s Change
(-1.55%) $-0.22
Current Price
$13.94
Key Data Points
Market Cap
$68B
Day’s Range
$13.79 - $14.15
52wk Range
$9.01 - $18.98
Volume
60M
Avg Vol
52M
There is a lot that is new with Nu Holdings these days. Earlier this month, the parent company of Brazil’s Nubank announced that it secured naming rights for the new stadium in Miami, where Lionel Messi’s Inter Miami will kick off their new home season. It may seem like an odd choice for a company with 131 million accounts in Brazil, Mexico, and Colombia, in that order. There is a method to the brand-ness.
Nu Holdings stock received conditional approval for its U.S. national bank charter in January. Is Nu ready to cash in on both this country’s growing Latin American population and the region’s infatuation with soccer to ramp up stateside operations?
As we wait for that chess move to play out, Nu keeps growing. Revenue climbed 57% in its latest quarter, with net income jumping 62% higher. A whopping 62% of Brazilian adults now have a Nubank account. That explosive growth and the stock’s recent retreat make it the cheapest of the three stocks on a price-to-earnings (P/E) basis. It’s trading for less than 13 times next year’s profit target. With strong account growth and engagement, Nu should be turning heads for its high-margin business.