What is the story about?
What's Happening?
Colombian financial platform Addi has successfully closed a $50 million upsize of its existing credit facility with Victory Park Capital, with additional funding from Neuberger. This marks Neuberger's first credit investment in Colombia. Addi has reported surpassing $150 million in annualized revenue and achieving its fourth consecutive profitable quarter as of June 30, 2025. The company, founded in 2018, aims to bridge the technology gap in Colombia's financial services sector, where over 70% of transactions are still conducted in cash. Addi's platform serves 2.5 million people and over 27,000 merchants, including major brands like Apple and Adidas.
Why It's Important?
Addi's financial growth and successful funding round highlight the increasing investor confidence in Latin America's fintech sector. The company's ability to scale sustainably and leverage next-generation technology positions it as a key player in redefining financial infrastructure in the region. This development is significant for U.S. investors and businesses looking to expand into emerging markets, as it demonstrates the potential for high returns and market growth in Latin America. Addi's success also underscores the importance of technological innovation in transforming traditional financial systems.
What's Next?
With the new funding, Addi plans to continue its expansion and enhance its financial services offerings. The company aims to further penetrate the Colombian market and potentially expand into other Latin American countries. Stakeholders, including global investors like Andreessen Horowitz and Union Square Ventures, will likely monitor Addi's progress closely as it seeks to capitalize on its growth momentum. The fintech's continued success could attract more international investment into the region's financial technology sector.
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