Greycroft Leads New Equity Investment for Addi, Latin America Buy Now Pay Later (BNPL) Company

October 6, 2021

Willkie advised Greycroft in the transaction.

Addi, a fintech and digital commerce startup based in Bogota and Sao Paulo, announced new equity funding for $75 million, led by Greycroft with participation from new investors GGV Capital, Citius Capital, and Intersection Growth Partners, as well as existing investors Andreessen Horowitz, Citius VC, Endeavor Catalyst, Foundation Capital, Monashees, and Quona Capital. This extension to Addi’s previously announced $65 million Series B round brings the company’s 90-day funding total to $140 million. Union Square’s Opportunity Fund also participated in the round, after having led the previous round. Addi plans to use the funds to continue to scale its current operations in Brazil and Colombia, and expand into Mexico in early 2022.

Addi was co-founded in 2018 to power digital commerce in Latin America, starting with Buy Now Pay Later, which allows customers to make purchases in minutes with no additional costs, paperwork, or complications. Addi has established itself as a key partner for online retailers, and BNPL as a top payment method, with hundreds of merchants. Thousands of customers across Brazil and Colombia are making purchases with BNPL, powered by Addi.

Greycroft is a leading venture capital firm focused on investments in the Internet and mobile markets. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, bring their products to market, and build successful businesses.

The Willkie team was led by partner Maria-Leticia Ossa Daza and included partners Matthew Makover and Russell Pinilis, and associates Anna Martini G. Pereira, Marissa Cantu, Isabel Araujo and Michael Ling.