- Colombian buy now, pay later (BNPL) firm Addi has secured $86 million in funding, comprising $50 million in debt financing from Goldman Sachs and $36 million in equity funding.
- The equity funding comes from venture capital firms including Andreessen Horowitz and Union Square Ventures, with additional participation from GIC Private Limited, a Singaporean sovereign wealth fund.
- This funding round adds to the $65 million Series B raise completed by Addi in the summer of 2021.
- In late 2021, Addi also secured $200 million in an equity and debt financing round, resulting in a valuation exceeding $700 million.
- However, according to an interview with Bloomberg, Santiago Suárez, Addi’s CEO and co-founder, revealed that the company has since halved its valuation.
- Despite experiencing strong growth, Addi has decided to postpone its expansion into Brazil and Mexico, prioritizing the consolidation of its position in the Colombian market.
