LatAm List – ADDI, a Colombian fintech startup, has just announced a $12.6M Series A round of funding led by Angela Strange from Andreessen Horowitz, along with Monashees, Village Global, and Sinai VC. These organizations have supported ADDI since their launch in February of 2019.
ADDI is making an impact in Colombia by working to solve the inaccessible and unfair fate of consumer credit. Santiago Suarez, ADDI’s co founder and CEO, provided context to the issue in a recent blog post:
“Only 14% of Colombians have credit cards, and even people with steady employment and no debt often aren’t deemed creditworthy,” noted Suarez.
With this strong backing, ADDI is looking to enhance both their merchant partnerships and their own team; accelerating steps that will make way for a new and improved product:
“Starting this summer, we will allow our clients to use ADDI for their online purchases in addition to in-store, and we have a few more exciting product announcements in the works,” announced Suarez.
Read more on Medium.