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.