Colombian fintech Addi secured a $35M credit line from BBVA Spark, adding to its existing $100M credit line from Victory Park Capital and $70M from Goldman Sachs and Fasanara Capital.
Addi is a BNPL (Buy Now, Pay Later) that enables consumers, especially those without access to traditional credit, to split purchases into installments in both physical and online stores. Addi also operates a marketplace to offer financing on items ranging from fashion to consumer electronics.
Addi will use the funds to strengthen its product offering in Colombia.
“Addihas achieved impressive growth in recent years, and we firmly believe in its ability to continue scaling sustainably and creating a positive impact on millions of people,” said Eduardo Gonzalez, BBVA Spark’s Country Manager in Colombia and Argentina.
Founded in 2018, Addi partners with over 25K merchants and has already issued more than 19M loans.
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