Addi, the Colombian commerce and financial platform, has announced the completion of a $50m upsize to its existing credit facility with Victory Park Capital.
The funding was provided through Victory Park Capital, with the incremental commitment coming from funds managed by Neuberger. This deal marks Neuberger’s first-ever credit investment in Colombia.
Founded in 2018, Addi has positioned itself as a key player in consumer financing, providing services to both consumers and merchants. The company has built a dual-sided ecosystem, now serving 2.5m people and over 27,000 merchants, including global names such as Apple, Adidas, Movistar, Alkosto and Exito, alongside a strong base of local small and medium-sized businesses (SMBs).
Addi CEO Santiago Suarez said, “Colombia has one of the most difficult and underserved credit markets in the world. This upsize underpins our consistent growth trajectory and the fact that we’re building a product with lasting impact and staying power. To supercharge our next chapter, we’re bringing in a new infusion of funding to help continue to drive our advancement, built in part through our industry-leading technology.”
Neuberger managing director Zhengyuan Lu said, “Colombia has one of the most difficult and underserved credit markets in the world. This upsize underpins our consistent growth trajectory and the fact that we’re building a product with lasting impact and staying power. To supercharge our next chapter, we’re bringing in a new infusion of funding to help continue to drive our advancement, built in part through our industry-leading technology.”
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