Colombia’s commerce and financial platform, Addi, has recently secured a significant USD 50 million debt funding round.
This investment will be facilitated through Neuberger’s managed funds within Victory Park’s credit facility, promising efficient support for the company.
The influx of capital is expected to bolster Addi’s development efforts and enhance its product offerings, aiming to optimize customer experiences. To further fuel its growth, Addi has also integrated new funding that will aid in technology advancements, with a strong emphasis on security and efficiency.
Details of the USD 50 million debt funding
Colombia stands out as one of Latin America’s fastest-growing economies over the past five years, largely due to its robust consumer market. Mobile penetration rates are also exceptionally high, with approximately 78.3 million active devices at the beginning of the year—equivalent to about 147% of the population.
While mobile technology and digital advancements abound in Colombia, cash remains prevalent for financial transactions, accounting for over 70% of total transactions. Addi intends to use this funding to address the technology gap in Colombian financial services and build a dual-sided ecosystem that benefits both customers and merchants.
Additionally, the company plans to leverage advanced technology to scale sustainably, addressing fragmented credit markets and aligning with customer needs, preferences, and regulatory requirements.
