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Addi raises $75m to bring BNPL to Latin America

Addi raises $75m to bring BNPL to Latin America

Bogota-based Addi has raised $75 million in an extension f its Series B funding round led by Greycroft.

GGV Capital, Citius Capital, and Intersection Growth Partners, Andreessen Horowitz, Citius VC, Endeavor Catalyst, Foundation Capital, Monashees, and Quona Capital al joined the extension, which brings Addi's 90-day funding total to $140 million and doubles the firm's valuation.

Addi will use the money to scale its current operations in Brazil and Colombia, and expand into Mexico in early 2022. Additionally, the company will look to add new ways for customers and merchants to pay through its platform and its app, which launches later this month.

“This round has increased our focus on making digital commerce ubiquitous and accessible across Latin America. Additionally, it’s a testament to the growth we’ve experienced, as well as the trust we’ve established with merchants and customers alike,” says Addi CEO Santiago Suarez.

Separately, Addi has hired former Vise and Affirm executive Niki Sri-Kumar as VP and GM.

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