ADDI raises Series B funding to enhance digital commerce and expand financial access in Colombia and Brazil through innovative Buy Now Pay Later solutions.

Information on the Target

ADDI, headquartered in Bogotá, Colombia, is a pioneering digital commerce company that offers innovative financial solutions to consumers across Latin America. By specializing in Buy Now Pay Later (BNPL) products, ADDI facilitates more accessible online shopping experiences for millions by providing flexible payment options. With a focus on enhancing consumer access to credit, ADDI's services target the unbanked and underbanked populations in Colombia and Brazil, where traditional financial institutions often overlook their financial needs.

ADDI's offerings include features that allow customers to split their payments into three monthly installments without incurring additional costs, as well as longer-term financing options for larger purchases, spanning from 6 to 24 months. By leveraging advanced credit scoring algorithms, ADDI provides real-time financing solutions during the shopping experience, enabling smoother transactions and better customer engagement for both consumers and merchant partners.

Industry Overview in Colombia

The financial landscape in Latin America, particularly in Colombia, poses significant challenges due to limited access to banking services. A mere 26% of the Colombian population owns a credit card, while only 38% of