Addi, a fintech and digital commerce startup based in Bogota, Colombia, and Sao Paulo, Brazil, raised $75m in extension Series B funding.
The round was led by Greycroft with participation from new investors GGV Capital, Citius Capital, and Intersection Growth Partners, as well as existing investors Andreessen Horowitz, Citius VC, Endeavor Catalyst, Foundation Capital, Monashees, and Quona Capital. Union Square’s Opportunity Fund also participated in the round.
The company, which also hired Niki Sri-Kumar as Vice President and General Manager, will use the funds to continue to scale its current operations in Brazil and Colombia, expand into Mexico in early 2022, enhance its BNPL offering while allowing customers and merchants to pay in new ways through its platform and its app, which launches later this month.
Co-founded in 2018 by Santiago Suarez, Daniel Vallejo, and Elmer Ortega, Addi aims to power digital commerce in Latin America, starting with Buy Now Pay Later solutions. The company is currently available for e-commerce, mobile, and brick-and-mortar purchases in Brazil and Colombia, with plans to expand across Latin America in the coming years. Addi has established itself as a key partner for online retailers, including Arturo Calle, Keep Running, Claro, Mario Hernandez, and BNPL as a top payment method, with hundreds of merchants.
FinSMEs
09/09/2021