Addi obtains USD 100 million credit facility from Victory Park Capital

With the new facility, Addi is set to advance its financing of credit originators in Colombia as it delivers BNPL solutions to consumers and merchants. Also, the newly forged collaboration with Victory Park Capital enables the company to sustain its developments while also creating and improving its service offerings to continue optimising the customer experience.

Moreover, Addi saw several investments throughout the years, with the USD 100 million credit facility coming after the company secured USD 86 million in March 2024 in a funding round that included both equity and debt financing. Out of the raised sum, USD 36 million came in equity funding from several investors, while Goldman Sachs Group extended USD 50 million in debt financing for the company. Additionally, the end of December 2021 brought USD 200 million in funding to Addi, with the round being led by Softbank and GIC. The capital injection was set to assist Addi in fuelling its expansion across Latin America.

Addi’s BNPL offering and growth strategy

Since the start of its operations in 2018, Addi has been delivering comprehensive shopping and payment solutions that are leveraged to nearly 2 million customers and over 18,000 merchants, according to the company’s data. Addi’s commitment to providing payment solutions that fit the needs, demands, and preferences of its users is supported by several investors, including Andreessen Horowitz, GIC, Union Square Ventures, Goldman Sachs, and now, Victory Park Capital. The partnership with Victory Park Capital follows a period of expansion and development for the company, with it reaching profitability, obtaining regulatory approval to become a bank, and launching its Marketplace platform.

When commenting on the collaboration, representatives from Addi underlined that Victory Park Capital’s experience in the private consumer credit sector can support their company’s objective to meet the historically underserved payment and credit needs of Colombians. In addition to enabling Addi to advance and sustain its growth, the partnership is set to develop and improve its services.