Venture capital is flooding into BNPL (buy now pay later) tech, and Bogota-based Addi may be leading the way. GGV Capital, Citius Capital, and Intersection Growth Partners, Andreessen Horowitz, Citius VC, Endeavor Catalyst, Foundation Capital, Monashees, and Quona Capital all piled in with $75 million in a Series B round of funding.
Addi has plans to expand within Colombia, Brazil, and Mexico using their new funds. And according to Forbes Colombia, they already have a userbase of 250,000 within this region.
Addi CEO Santiago Suarez had this to say:
This round has increased our focus on making digital commerce ubiquitous and accessible across Latin America. Additionally, it’s a testament to the growth we’ve experienced, as well as the trust we’ve established with merchants and customers alike.