Sebastian Kanovich: Pedro, I’ll take the second part and let you take the first one, which is the fastest. It’s not that we reprice, Kaio, it’s that our merchants reprice. So they reprice our services and therefore, we are indexed to their dollar amounts and as such, our own revenues reprice. It’s not that we increase our take rate. It’s not our merchants have higher amounts or charge higher amounts, and therefore, we are, the fact, repricing ourselves.
Pedro Arnt: So I learned a long time ago, you don’t fix something that isn’t broken. Look at the first half that we’ve just delivered. Our Brazilian business, our largest business, grew revenues nearly doubled year-on-year. Our newer markets, which are a huge opportunity, Africa and Asia, I think, grew over two times, nearly 2.5 times. We’ve had some one-offs. We had a devaluation in Nigeria and the currencies in Argentina. But if I look at the long-term prospects for this business, that’s a big reason why I’m here, this does not need a change in strategy at all.
Kaio Prato: Okay. Thank you. But just wondering if you could pursue any other opportunity beyond payments or no, if not the strategy?
Pedro Arnt: The addressable market, the global reach of this company presents significant opportunities for us. So again, reiterate the local strategy is clear. The vision is clear. It’s incredibly compelling. And what we need to do is execute on behalf of our global merchants behind their needs in fintech and emerging markets.
Kaio Prato: Okay. Thank you very much, Pedro and Seba.
Operator: Thank you. That’s all the time we have for questions. I’d like to turn the call back over to Seb for closing remarks.
Sebastian Kanovich: Pedro, I think closing remarks are yours today.
Pedro Arnt: Yep. Thanks for that, Seba. So first of all, thank you, everyone. Just to reiterate how excited I am to be here and the opportunity. And I do want to leave everyone with a final thought. Companies tend to get lost if they start placing excessive focus on the short term. And so we want to continue to reiterate and reemphasize to everyone that we’re building this business for the long term. And that’s where we’re making our decisions. I’m convinced that, that is how value is created in technology as I said earlier, when you compound the kind of results we’re delivering over longer periods of time. So our job as leaders of this organization is to find the best way for DLocal to be able to compound those results over a long period of time.
That’s why you see us investing in geographies, in product and systems. We’re super, super excited about this opportunity. We have a huge market to attack globally to turn to a multi-billion dollar revenue business over the coming years, and that’s where our focus is. I look forward to updating everyone on our progress on that journey over the course of the next few quarters. And thank you very much.
Operator: Thank you for your participation. This does conclude the program, and you may now disconnect. Everyone, have a great day.
