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 Colombia-based Addi, a BNPL service provider, has raised USD 86 million in funding. This comprises USD 36 million in equity funding from Union Square Ventures, Andreessen Horowitz, and GIC Private Ltd. and USD 50 million in debt funding from Goldman Sachs Group. Addi's total funding now stands close to USD 462 million, with nearly a 50% estimated drop in valuation from its 
 <a href="https://sp-edge.com/updates/7447">
 USD 700 million valuation
 </a>
 in 2021.
 
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 After shelving plans for Brazil and Mexico, the company plans to use the funds to support expansion within the Colombian market.
 
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 Addi reported over 60% growth in its client base to over 2 million users in 2023 and over 13x growth in merchant partners to 13,500 in 2023, from 1,000 in 2021.
 
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 Analyst QuickTake: 
 Despite the drop in valuation nearly two years after Addi raised 
 <a href="https://sp-edge.com/updates/7447">
 USD 205 million
 </a>
 in combined debt and equity funding in December 2021, the company has reported significant growth in its client base and merchant partners. Addi intends to maintain its growth momentum by focusing on growing in its home market.&nbsp;&nbsp;&nbsp;
 
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 <a href="https://www.bloomberg.com/news/articles/2024-03-19/colombia-fintech-taps-goldman-and-singapore-fund-for-new-capital">
 Bloomberg
 </a>
 
 
 <a href="https://contxto.com/en/colombia/colombian-fintech-addi-secures-86m-in-funding-round-led-by-goldman-sachs-and-singapores-gic/">
 Contxto
 </a>
 
 
 
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Buy Now, Pay Later

ANALYST_QUICK_TAKE

<div>
 
 Colombia's Addi, a Buy Now, Pay Later (BNPL) service provider, has recently secured a total funding of USD 86 million. The recent funding round included USD 36 million in equity funding from investors like Union Square Ventures, Andreessen Horowitz, and GIC Private Ltd. They also received USD 50 million in debt funding from the Goldman Sachs Group. With this recent funding, Addi's total funding to date has reached nearly USD 462 million, despite experiencing an estimated 50% drop in valuation from its <a href="https://sp-edge.com/updates/7447"> USD 700 million valuation </a> recorded in 2021.
 The company has now decided to put on hold its original plans to expand into Brazil and Mexico. Instead, they aim to utilize the recently secured funds to further support and enhance their expansion within their domestic market in Colombia.
 Despite these changes, Addi reported impressive growth statistics over the years. They reported over 60% growth in its user base, reaching over 2 million users in 2023. On the other hand, they also witnessed more than 13 times growth in terms of merchant partners, ballooning from an initial 1,000 in 2021 to a whopping 13,500 in 2023.
 
</div> Analyst QuickTake: 
 Despite the drop in valuation nearly two years after Addi raised <a href="https: 
//sp-edge.com/updates/7447"> USD 205 million </a> in combined debt and equity funding in December 2021, the company has reported significant growth in its client base and merchant partners. Addi intends to maintain its growth momentum by focusing on growing in its home market.&nbsp;&nbsp;&nbsp;

All Updates

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

Addi raises USD 80 funding at USD 700 million valuation; also raises USD 125 million debt

Addi raises USD 75 million in a Series B extension