Addi is a fintech buy now, pay later (BNPL) services company that is building credit and banking solutions that work for Latin Americans.
ADDI offers you the possibility of obtaining consumer credits for your purchases in their allied stores.
Addi was co-founded in 2018 by Santiago Suarez, Daniel Vallejo, and Elmer Ortega. The company is headquartered in Bogotá, Colombia, with an office in Sao Paulo, Brazil.
ADDI lets its borrowers apply for credit at the moment of purchase. The company likens its service to the layaway and credit plans that already exist in Colombia — but involve pretty onerous requirements to use.
Addi's payment and credit products create tremendous value for merchants while unlocking a modern checkout experience that has the potential to reach more consumers than any other fintech in the region.
Addi has worked with numerous online retailers, including Arturo Calle, Keep Running, Claro and Mario Hernandez. In 2021, the volume of the company’s payments increased 13 times,
Addi is backed by Andreessen Horowitz, Greycroft, SoftBank Latin America Fund, Goldman Sachs Group, GIC, GGV Capital, Endeavor Catalyst, Union Square’s Opportunity Fund, Foundation Capital, Monashees, and others. The company raised $205M in equity and debt financing on Dec 20, 2021. This brings Addi's total funding to $376.3M to date. The latest round valued the company at over $700M post-money.