Colombian commerce and financial platform Addi closed a $50million upsize of its existing credit facility with Victory Park Capital, with the incremental commitment provided by funds managed by Neuberger. The deal marks Neuberger’s first credit investment in Colombia.
The company also reported that it surpassed $150million in annualised revenue and reached its fourth consecutive profitable quarter as of 30 June 2025. Addi has maintained a growth rate of 100 per cent year-over-year for the past five years.
Bridging the technology gap in a cash-dominant economy
Founded in 2018, Addi has been focused on bridging the technology gap in Colombia’s financial services sector. Despite being one of the fastest-growing economies in Latin America with high mobile phone saturation, over 70 per cent of financial transactions in the country are still conducted in cash.
Addi has built a dual-sided ecosystem that currently serves 2.5 million people and over 27,000 merchants, including both small and medium-sized businesses (SMBs) and large enterprises.
“Colombia has one of the most difficult and underserved credit markets in the world. This upsize underpins our consistent growth trajectory and the fact that we’re building a product with lasting impact and staying power,” said Santiago Suarez, co-founder and chief executive officer of Addi. “To supercharge our next chapter, we’re bringing in a new infusion of funding to help continue to drive our advancement, built in part through our industry-leading technology.”
Investor confidence in a growing market
“Addi is building the kind of financial infrastructure Latin America has needed for quite some time,” said Zhengyuan Lu, managing director at Neuberger. “Their remarkable growth is a testament both to the team’s ability to scale sustainably by leveraging next-gen technology and clear product fit in a market where credit has historically been broken. We believe Addi is poised to redefine the economic opportunity for consumers and businesses across the region and are excited to extend this funding.”
Kinan Hayani, a partner at Victory Park Capital, added: “We’ve been impressed with Addi’s execution, disciplined growth and ambition since we partnered with them last year. We’re thrilled to continue to support them alongside Neuberger.”
In addition to its consumer growth, Addi’s platform is used by a range of established merchant partners, including Apple, Adidas, and major Colombian retailers Alkosto and Exito. The company also noted that over 90 per cent of its merchant base is comprised of Colombia-based SMBs. Addi is backed by several global investors, including Andreessen Horowitz, GIC, and Union Square Ventures.
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