Based in Bogotá, Colombia, the Addi BNPL app is proving to be very successful across a range of e-commerce, mobile and bricks and mortar retailers. While relatively new to the market, the Addi buy now pay later app has been funded by approaching $400 million in investment capital. The company is currently focusing on Brazil and Colombia although there are plans to roll out the Addi buy now pay later app across all of Latin America, with Mexico next on the list. Like many of the new buy now pay later apps, Addi not only allows the standard 3 monthly instalment solution for purchasers, but up to 24 months for larger items. Repayment plans which go beyond the traditional three month period are subject to what the company calls “competitive and fair rates”. An interesting play in a very big marketplace!
Company name: Addi
Website: https://co.addi.com/
Target market: Merchants
Founded: 2018
Founders: Daniel Vallejo, Elmer Ortega, Santiago Suarez
Funds raised: $376m
Location: Bogotá, Distrito Especial, Colombia
Type of company: Private
Status: Active
Contact email: soporte@addi.com
