Sergio Fogel: How an INSEAD MBA Helped a Uruguayan Entrepreneur Build a Billion-Dollar Payments Business

INSEAD alumnus Sergio Fogel is one of Uruguay’s most successful internet entrepreneurs. In 2016, he co-founded payments firm dLocal. Today, it’s the world leader in cross-border payments in emerging markets, with offices in five countries and operations in 30. It became Uruguay’s first unicorn in 2020 and is now valued at US $9.5 billion, following its 2021 public listing on the NASDAQ.  We sat down with Sergio to find out more about his entrepreneurial journey and the role INSEAD played in his success.

Global Executive MBA: Key Management Challenge in Brazil

Bom dia! Tudo Bem? I was really excited to go on my first trip ever to Brazil, thanks to the Global Executive MBA and Professor Monteiro from INSEAD. We spent one full week in Sao Paulo, with a day trip to Rio de Janeiro in the middle. Unfortunately, I was not able to arrive earlier to spend more time in Rio de Janeiro, contrary to some of my colleagues who enjoyed a VIP tour of Rio led by one of our Brazilian classmates!
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