Addi, a Colombia-based fintech platform for integrated payments, shopping and banking, secured a $100 million credit facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit. The new facility is designed to support Addi’s financing of credit originations in Colombia as it provides buy now, pay later (BNPL) solutions to consumers and merchants.
“We’ve known the VPC team for over five years, and we’re excited to be partnering with them. Their experience in the private consumer credit space is unparalleled, and we look forward to working together in support of our mission to meet the historically underserved payment and credit needs of Colombians,” Santiago Suarez, co-founder and CEO of Addi, said. “This new partnership will allow us not only to sustain our growth, but also to create and enhance our services to continue building a better customer experience.”
“Addi has rapidly emerged as an innovator in the Latin American financial ecosystem by powering the modern financial needs of consumers and businesses alike,” Kinan Hayani, managing director at VPC, said. “We strongly believe in the company’s mission to broaden access to credit products for underserved and underbanked consumers across Latin America, and we recognize the added value Addi can bring to merchants by helping increase conversion rates at the point-of-sale.”
