Announcing Our Series B

It’s a big day at ADDI, as we’re announcing $65mm in new debt and equity funding. On the equity side, we’ve raised our $35mm Series B, led by Union Square Ventures, with participation from 8VC, Citius Capital, Endeavor Catalyst, Broadhaven, as well as Hans Tung and Huey Lin (former COO at Affirm), and existing investors Andreessen Horowitz, Foundation Capital, Monashees, and Quona. As part of the round, John Buttrick from USV will be joining our board of directors.

Additionally, we’re thrilled to announce our partnership with Architect Capital, a private debt fund led by James Sagan, who we’ve known for a long time and with whom we are excited to finally work together.

This new funding comes at a very exciting time for us. We’re on a mission to make digital commerce a reality in Latin America, and now more than ever we’re convinced that Buy Now Pay Later is the best first step in making this happen. Online retail sales in our region remain well behind the US and Asia, even as smartphone and internet penetration has skyrocketed. It turns out, it’s incredibly difficult to buy things online. Most Latin Americans don’t have a credit card, and those who do have low limits and face a hard time getting their transactions approved over the internet.

At ADDI, we’re changing that. We have partnered with over 200 merchants across Colombia and Brazil with amazing results so far. Merchants who partner with us can double their AOVs and see meaningful increases in checkout conversion. We have quickly become a top 2–3 payment partner for many of them, and we’ve enabled them to reach their customers and increase their sales.

For our customers, ADDI allows them to afford what they want when they want it in fair and speedy fashion. Our new ADDIPago product allows customers to pay in three installments at no cost to themselves, while our ADDIFinancia offering allows them to get 12–24 month financing for those larger purchases.

This new round of funding allows us to expand and accelerate the growth of our Brazilian operation, while also continuing to invest in our product experience across all of our markets. Do check out our jobs page, as we’re hiring across both markets, as well as remote.

Last but not least, I want to thank and congratulate all of my partners and colleagues at ADDI. Only you know how hard we had to work last year as we evolved our business, navigated COVID and all its challenges. We’re just getting started.