Colombian buy-now, pay-later fintech Addi raised an $86M Series D round led by Citius and BTG Pactual. GIC and Monashees also participated. As part of the investment, Citius will join Addiās board of directors.
Addi will use the capital to accelerate customer acquisition and invest in technology and artificial intelligence.
Founded in 2018 by Santiago SuƔrez, Daniel Vallejo, and Elmer Ortega, Addi serves 5.5 million customers and partners with 76,000 merchants across 75,000 points of sale in 1,034 municipalities. CEO Santiago SuƔrez said AI has significantly improved engineering productivity, allowing the company to scale faster without increasing headcount.
āThis is a round we did not need. We raised it because Citius approached us,ā said Santiago SuĆ”rez, CEO and cofounder of Addi. āGiven our profitability and the growth of the business, we expect this to be the last round we will see for quite some time.ā
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