General Atlantic's dLocal (NASDAQ: DLO) stake shifts after big share sale

Rhea-AI Filing Summary

dLocal Ltd (DLO) has an updated ownership report from a General Atlantic–led group on its Class A common shares. Based on 172,183,455 Class A shares outstanding as of June 30, 2026, the reporting group may be deemed to beneficially own up to 36,814,136 shares, or 21.4% of the class, through various affiliated funds and entities.

The largest single block reported is 30,218,380 shares (about 16.6%) held of record by General Atlantic DO B.V., with additional holdings through General Atlantic (DLO), L.P. and related vehicles. The amendment mainly updates ownership and recent trading: on August 17, 2026, General Atlantic DO B.V. sold 9,842,559 Class A shares in open-market transactions at an average price of $13.60 per share. Other items, including purpose of transaction and contractual arrangements, remain stated as having no material change.

Filing Explained

The August 17 event is reported in Amendment No. 3 to a Schedule 13D; because 13D is the form for a holder above 5% that may seek to influence control, this filing uses a control-oriented ownership category rather than passive 13G reporting.

Key Figures

Beneficial ownership: 36,814,136 Class A shares Ownership percentage: 21.4 % GA DO block: 30,218,380 Class A shares +5 more

8 metrics

Beneficial ownership 36,814,136 Class A shares Shares the General Atlantic reporting group may be deemed to beneficially own

Ownership percentage 21.4 % Percentage of dLocal Class A shares represented by 36,814,136 shares

GA DO block 30,218,380 Class A shares Class A shares held of record by General Atlantic DO B.V.

GA DO ownership percentage 16.6 % Percentage of Class A shares represented by GA DO’s 30,218,380-share holding

GAP 100 related block 6,595,756 Class A shares Class A shares beneficially owned by General Atlantic Partners 100, L.P. and related entities

Issuer shares outstanding 172,183,455 Class A shares dLocal Class A shares outstanding as of June 30, 2026

Recent sale volume 9,842,559 Class A shares Shares sold by GA DO on August 17, 2026 in open-market transactions

Average sale price $13.60 per share Average price received in GA DO’s August 17, 2026 open-market sale

Key Terms

beneficial ownership, shared voting power, Schedule 13D, alternative investment fund manager, +1 more

5 terms

beneficial ownership financial

"may be deemed to beneficially own the Class A common shares indicated"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared voting power financial

"Each of the Reporting Persons has the shared power to vote or direct the vote"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Schedule 13D regulatory

"Agreement relating to the filing of the joint acquisition statements as required by Rule 13d-1(k)(1)"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

alternative investment fund manager financial

"appointed Carne Global Fund Management (Luxembourg) S.A. as the alternative investment fund manager"

An alternative investment fund manager is a firm or individual that runs pooled investment vehicles that buy non-traditional assets—such as private equity, hedge funds, real estate, commodities or infrastructure—rather than publicly traded stocks and bonds. Investors care because these managers seek higher or different types of returns and risks, charge specialized fees, and often use less liquid strategies, so they can materially affect portfolio risk, return and access to opportunities.

dispositive power financial

"shared power to dispose or to direct the disposition of the Class A common shares"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

How much of dLocal Ltd (DLO) does the General Atlantic group currently report owning?

The General Atlantic group may be deemed to beneficially own up to 36,814,136 Class A shares of dLocal Ltd, representing approximately 21.4% of the outstanding Class A common shares, based on 172,183,455 shares outstanding as of June 30, 2026.

What recent share sale by General Atlantic is disclosed for dLocal Ltd (DLO)?

On August 17, 2026, General Atlantic DO B.V. sold an aggregate of 9,842,559 dLocal Class A shares in open-market transactions at an average price of $13.60 per share, as part of the group’s reported activity in the issuer’s stock.

Which General Atlantic entity holds the largest block of dLocal Ltd (DLO) shares?

The filing states that General Atlantic DO B.V. holds of record 30,218,380 Class A shares of dLocal Ltd, representing about 16.6% of the Class A shares outstanding, with various affiliated General Atlantic funds sharing beneficial ownership of this block.

What share count did dLocal Ltd (DLO) report as outstanding for this ownership calculation?

The percentages are calculated using 172,183,455 Class A common shares outstanding, reported by dLocal Ltd as of June 30, 2026 in its unaudited condensed consolidated interim financial statements filed as an exhibit to a Form 6-K on August 13, 2026.

Did this Schedule 13D/A change the stated purpose of General Atlantic’s investment in dLocal Ltd (DLO)?

The amendment indicates no material change to the purpose of transaction. It describes the General Atlantic entities as engaged in acquiring, holding and disposing of company interests for investment purposes and leaves prior purpose disclosures otherwise unchanged.

How is voting and dispositive power over dLocal Ltd (DLO) shares structured within the General Atlantic group?

The report states that the General Atlantic funds and coinvestment vehicles share voting and dispositive power over the Class A shares they funded, with control ultimately linked through various general partners and a General Atlantic partnership committee overseeing investment decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/19/2026 - 05:33 PM Accepted by SEC EDGAR 08/19/2026 - 05:32 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

dLocal Ltd

(Name of Issuer)

Class A common shares, nominal value $0.002 per share

(Title of Class of Securities)

G29018101

(CUSIP Number)

Michael Gosk
c/o General Atlantic Service Company, LP, 55 East 52nd Street, 33rd Floor
New York, NY, 10055
212-715-4000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/17/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GENERAL ATLANTIC, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic DO B.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 30,218,380.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 30,218,380.00

11

Aggregate amount beneficially owned by each reporting person

30,218,380.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

16.6 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic (DO) SPV GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.00 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic (DO) SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.00 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Cooperatief U.A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 30,218,380.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 30,218,380.00

11

Aggregate amount beneficially owned by each reporting person

30,218,380.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.6 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Partners (Bermuda) IV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 30,218,380.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 30,218,380.00

11

Aggregate amount beneficially owned by each reporting person

30,218,380.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.00 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Partners (Bermuda) EU, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Partners (Lux) SCSp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

LUXEMBOURG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Cooperatief, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 30,218,380.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 30,218,380.00

11

Aggregate amount beneficially owned by each reporting person

30,218,380.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.6 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GAP (Bermuda) L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GAP Coinvestments III, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GAP Coinvestments IV, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GAP Coinvestments V, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

GAP Coinvestments CDA, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic GenPar (Lux) SCSp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

LUXEMBOURG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic (Lux) S.a r.l.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

LUXEMBOURG

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic GenPar (Bermuda), L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,814,136.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,814,136.00

11

Aggregate amount beneficially owned by each reporting person

36,814,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic Partners 100, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,595,756.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,595,756.00

11

Aggregate amount beneficially owned by each reporting person

6,595,756.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic (SPV) GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,595,756.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,595,756.00

11

Aggregate amount beneficially owned by each reporting person

6,595,756.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic GenPar, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,595,756.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,595,756.00

11

Aggregate amount beneficially owned by each reporting person

6,595,756.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): G29018101

1

Name of reporting person

General Atlantic (DLO), L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,595,756.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,595,756.00

11

Aggregate amount beneficially owned by each reporting person

6,595,756.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A common shares, nominal value $0.002 per share
(b)	Name of Issuer: dLocal Ltd
(c)	Address of Issuer's Principal Executive Offices: DR. LUIS BONAVITA, 1294, MONTEVIDEO, URUGUAY , 11300.
Item 1 Comment: This Amendment No. 3 to Schedule 13D (the "Statement") is being filed to amend the Statement as originally filed with the Securities and Exchange Commission on March 23, 2023, as amended by Amendment No. 1 dated April 25, 2023 and Amendment No. 2 dated September 9, 2025, with respect to the Class A common shares, nominal value $0.002 (the "Class A common shares") of DLocal Limited, a company incorporated in the Cayman Islands (the "Company"), whose principal executive offices are located at Dr. Luis Bonavita, 1294, 11300, Montevideo, Uruguay. Except as otherwise provided herein, each Item of the Statement remains unchanged.
Item 2.	Identity and Background
(a)	This Statement is being filed by a "group," as defined in Rule 13d-5 of the General Rules and Regulations promulgated under the Exchange Act. The members of the group are: (i) General Atlantic, L.P., a Delaware limited partnership ("GA LP"); (ii) General Atlantic DO B.V., a Netherlands private limited company ("GA DO"); (iii) General Atlantic (DO) SPV GP, LLC, a Cayman Islands limited liability company ("GA DO SPV GP"); (iv) General Atlantic (DO) SPV, L.P., a Cayman Islands exempted limited partnership ("GA DO SPV"); (v) General Atlantic Cooperatief U.A., a Netherlands cooperative ("GA Coop UA"); (vi) General Atlantic Partners (Bermuda) IV, L.P., a Bermuda exempted limited partnership ("GAP Bermuda IV"); (vii) General Atlantic Partners (Bermuda) EU, L.P., a Bermuda exempted limited partnership ("GAP Bermuda EU"); (viii) General Atlantic Partners (Lux) SCSp, a Luxembourg special limited partnership ("GAP Lux"); (ix) General Atlantic Cooperatief, L.P., a Bermuda exempted limited partnership ("GA Coop LP"); (x) GAP (Bermuda) L.P., a Bermuda exempted limited partnership ("GAP (Bermuda) LP"); (xi) GAP Coinvestments III, LLC, a Delaware limited liability company ("GAPCO III"); (xii) GAP Coinvestments IV, LLC, a Delaware limited liability company ("GAPCO IV"); (xiii) GAP Coinvestments V, LLC, a Delaware limited liability company ("GAPCO V"); (xiv) GAP Coinvestments CDA, L.P., a Delaware limited partnership ("GAPCO CDA"); (xv) General Atlantic GenPar (Lux) SCSp, a Luxembourg special limited partnership ("GA GenPar Lux"); (xvi) General Atlantic (Lux) S.a r.l., a Luxembourg private limited liability company ("GA Lux"); (xvii) General Atlantic GenPar (Bermuda), L.P., a Bermuda exempted limited partnership ("GenPar Bermuda"); (xviii) General Atlantic Partners 100, L.P., a Delaware limited partnership ("GAP 100"); (xix) General Atlantic (SPV) GP, LLC, a Delaware limited partnership ("GA SPV"); (xx) General Atlantic GenPar, L.P., a Delaware limited partnership ("GA GenPar"); (xxi) General Atlantic (DLO), L.P., a Delaware limited partnership ("GA DLO") Each of the foregoing is referred to as a Reporting Person and collectively as the "Reporting Persons." GAP Bermuda IV, GAP Bermuda EU, GAP Lux, GA Coop LP and GAP 100 are collectively referred to as the "GA Funds." GAPCO III, GAPCO IV, GAPCO V and GAPCO CDA are collectively referred to as the "Sponsor Coinvestment Funds." The address of GAP (Bermuda) LP, GenPar Bermuda, GAP Bermuda IV, GA Coop LP and GAP Bermuda EU is c/o Conyers Client Services (Bermuda) Limited, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The address of GA DO and GA Coop UA is Gustav Mahlerlaan 308, 1082 ME, Amsterdam, The Netherlands. The address of GA DO SPV GP and GA DO SPV is c/o Conyers Trust Company (Cayman) Limited, SIX, 2nd Floor, Cricket Square, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands. The address of GA Lux, GA GenPar Lux, and GAP Lux is 412F, Route d'Esch, L-1471 Luxembourg. The address of each of the Sponsor Coinvestment Funds, GA DLO, GAP 100, GAP SPV, GA GenPar and GA LP is c/o General Atlantic Service Company, L.P., 55 East 52nd Street, 33rd Floor, New York, NY 10055. Each of the Reporting Persons is engaged in acquiring, holding and disposing of interests in various companies for investment purposes. GA DO is a wholly owned subsidiary of GA Coop UA. GA DO is the sole member of GA DO SPV GP. GA DO SPV GP is the general partner of GA DO SPV. The GA Funds, other than GAP 100, and the Sponsor Coinvestment Funds share beneficial ownership of the shares of Class A common shares held of record by GA DO. The GA Funds, other than GAP Bermuda IV and GA Coop LP, and the Sponsor Coinvestment Funds share beneficial ownership of the shares of Class A common shares held of record by GA DLO. GA SPV is the general partner of GA DLO. General Atlantic GenPar is the general partner of GAP 100. GA LP, which is controlled by the Partnership Committee of GASC MGP LLC (the "GA Partnership Committee"), is the sole member of GA SPV, the managing member of GAPCO III, GAPCO IV and GAPCO V and the general partner of GAPCO CDA and GA GenPar. The general partner of GAP Lux is GA GenPar Lux and the general partner of GA GenPar Lux is GA Lux. The general partner of GAP Bermuda IV and GAP Bermuda EU and the sole shareholder of GA Lux is GenPar Bermuda. GAP (Bermuda) LP, which is also controlled by the GA Partnership Committee, is the general partner of GenPar Bermuda and GA Coop LP. As of the date hereof, there are six members of the GA Partnership Committee. By virtue of the foregoing, the Reporting Persons may be deemed to share voting power and the power to direct the disposition of the shares that each owns of record. Each of the members of the GA Partnership Committee disclaims ownership of the Class A common shares reported herein except to the extent that he has a pecuniary interest therein. The information required by General Instruction C to Schedule 13D is attached hereto as Schedule A and is hereby incorporated by reference. The present principal occupation or employment of each of the members of the GA Partnership Committee is as a managing director of GA LP.
(b)	See Item 2(a).
(c)	See Item 2(a).
(d)	None of the Reporting Persons and none of the individuals listed on Schedule A have, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(e)	See Item 2(d).
(f)	See Item 2(a).
Item 3.	Source and Amount of Funds or Other Consideration
	No material change.
Item 4.	Purpose of Transaction
	No material change.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and supplemented as follows: The percentages used herein are calculated based upon on an aggregate of 172,183,455 Class A common shares reported by the Company to be outstanding as of June 30, 2026, as reported by the Company in its Unaudited Condensed Consolidated Interim Financial Statements as of and for the three and six months ended June 30, 2026 and 2025 and as of December 31, 2025, filed with the U.S. Securities and Exchange Commission as Exhibit 99.2 to Form 6-K on August 13, 2026. By virtue of the fact that (i) the GA Funds and the Sponsor Coinvestment Funds contributed the capital to fund the purchases, and share beneficial ownership, of the Class A common shares reported herein, (ii) GAP (Bermuda) LP is the general partner of GenPar Bermuda, and GenPar Bermuda is the general partner of GAP Bermuda EU and GAP Bermuda IV, and is the sole shareholder of GA Lux, (iii) GA Lux is the general partner of GA GenPar Lux and GA GenPar Lux is the general partner of GAP Lux, (iv) GAP Lux has appointed Carne Global Fund Management (Luxembourg) S.A. (the "AIFM") as the alternative investment fund manager of GAP Lux pursuant to an alternative investment fund management agreement to undertake all functions required of an external alternative investment fund manager under the Luxembourg law of 12 July 2013 on alternative investment fund managers, as amended from time to time and GAP Lux has also entered into a delegated portfolio management and distribution agreement with the AIFM and General Atlantic Service Company, L.P. ("GASC") in order to appoint GASC to act as the portfolio manager of GAP Lux, (v) GA LP is the sole member of GA SPV, the managing member of GAPCO III, GAPCO IV and GAPCO V, the general partner of GAPCO CDA and GA GenPar, and (vi) the members of the Partnership Committee control the investment decisions of GA LP, GAP (Bermuda) LP and, with respect to GAP Lux, GASC, the Reporting Persons may be deemed to have the power to vote and direct the disposition of the Class A common shares owned of record by GA DO and GA DLO. As a result, as of the date hereof, each of the Reporting Persons may be deemed to beneficially own the Class A common shares indicated on row (11) on such Reporting Person's cover page included herein, or the approximate percentage of the aggregate amount of Class A common shares indicated on row (13) on such Reporting Person's cover page included herein.
(b)	Each of the Reporting Persons has the shared power to vote or direct the vote and the shared power to dispose or to direct the disposition of the Class A common shares indicated on such Reporting Person's cover page included herein.
(c)	Item 5(c) of the Statement is hereby amended and supplemented as follows: Except as set forth below, to the knowledge of the Reporting Persons, none of the Reporting Persons nor any person named in Schedule A has effected any transaction in the Class A common shares during the past 60 days. On August 17, 2026, GA DO sold an aggregate of 9,842,559 Class A common shares in open market transactions at an average price of $13.60 per share.
(d)	No person other than the persons listed is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any securities owned by any member of the group.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	No material change.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1: Agreement relating to the filing of the joint acquisition statements as required by Rule 13d-1(k)(1) under the Exchange Act (previously filed). https://www.sec.gov/Archives/edgar/data/1846832/000095014225002413/eh250674293_ex01.htm

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

GENERAL ATLANTIC, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director
Date:	08/19/2026

General Atlantic DO B.V.

Signature:	/s/ I.M. van der Hoorn
Name/Title:	I.M. van der Hoorn, Director A
Date:	08/19/2026

Signature:	/s/ J.V. Lepeltak
Name/Title:	J.V. Lepeltak, Director B
Date:	08/19/2026

General Atlantic (DO) SPV GP, LLC

Signature:	/s/ I.M. van der Hoorn
Name/Title:	I.M. van der Hoorn, Director A of General Atlantic DO B.V., its sole member
Date:	08/19/2026

Signature:	/s/ J.V. Lepeltak
Name/Title:	J.V. Lepeltak, Director B of General Atlantic DO B.V., its sole member
Date:	08/19/2026

General Atlantic (DO) SPV, L.P.

Signature:	/s/ I.M. van der Hoorn
Name/Title:	I.M. van der Hoorn, Director A of General Atlantic DO B.V., the sole member of General Atlantic (DO) SPV GP, LLC, its general partner
Date:	08/19/2026

Signature:	/s/ J.V. Lepeltak
Name/Title:	J.V. Lepeltak, Director B of General Atlantic DO B.V., the sole member of General Atlantic (DO) SPV GP, LLC, its general partner
Date:	08/19/2026

General Atlantic Cooperatief U.A.

Signature:	/s/ I.M. van der Hoorn
Name/Title:	I.M. van der Hoorn, Director A
Date:	08/19/2026

Signature:	/s/ J.V. Lepeltak
Name/Title:	J.V. Lepeltak, Director B
Date:	08/19/2026

General Atlantic Partners (Bermuda) IV, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of GAP (Bermuda) GP LIMITED, the GP of GAP (Bermuda) L.P., the GP of General Atlantic GenPar (Bermuda), L.P., its GP
Date:	08/19/2026

General Atlantic Partners (Bermuda) EU, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of GAP (Bermuda) GP Limited, the GP of GAP (Bermuda) L.P., the GP of General Atlantic GenPar (Bermuda), L.P, its GP
Date:	08/19/2026

General Atlantic Partners (Lux) SCSp

Signature:	/s/ Ingrid van der Hoorn
Name/Title:	Ingrid van der Hoorn, Manager A of General Atlantic (Lux) S.a r.l., the general partner of General Atlantic GenPar (Lux) SCSp, its general partner
Date:	08/19/2026

Signature:	/s/ William Blackwell
Name/Title:	William Blackwell, Manager B of General Atlantic (Lux) S.a r.l., the general partner of General Atlantic GenPar (Lux) SCSp, its general partner
Date:	08/19/2026

General Atlantic Cooperatief, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of GAP (Bermuda) GP Limited, the general partner of GAP (Bermuda) L.P., its general partner
Date:	08/19/2026

GAP (Bermuda) L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of GAP (Bermuda) GP Limited, its general partner
Date:	08/19/2026

GAP Coinvestments III, LLC

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its managing member
Date:	08/19/2026

GAP Coinvestments IV, LLC

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its managing member
Date:	08/19/2026

GAP Coinvestments V, LLC

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its managing member
Date:	08/19/2026

GAP Coinvestments CDA, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its general partner
Date:	08/19/2026

General Atlantic GenPar (Lux) SCSp

Signature:	/s/ Ingrid van der Hoorn
Name/Title:	Ingrid van der Hoorn, Manager A of General Atlantic (Lux) S.a r.l., its general partner
Date:	08/19/2026

Signature:	/s/ William Blackwell
Name/Title:	William Blackwell, Manager B of General Atlantic (Lux) S.a r.l., its general partner
Date:	08/19/2026

General Atlantic (Lux) S.a r.l.

Signature:	/s/ Ingrid van der Hoorn
Name/Title:	Ingrid van der Hoorn, Manager A
Date:	08/19/2026

Signature:	/s/ William Blackwell
Name/Title:	William Blackwell, Manager B
Date:	08/19/2026

General Atlantic GenPar (Bermuda), L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of GAP (Bermuda) GP Limited, the general partner of GAP (Bermuda) L.P., its general partner
Date:	08/19/2026

General Atlantic Partners 100, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., the general partner of General Atlantic GenPar, L.P., its general partner
Date:	08/19/2026

General Atlantic (SPV) GP, LLC

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its sole member
Date:	08/19/2026

General Atlantic GenPar, L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic, L.P., its general partner
Date:	08/19/2026

General Atlantic (DLO), L.P.

Signature:	/s/ Michael Gosk
Name/Title:	Michael Gosk, Managing Director of General Atlantic (SPV) GP, LLC, its general partner
Date:	08/19/2026