J.P. Morgan, Goldman Back Profitable Colombian Fintech Addi With $630M
Colombian buy-now-pay-later platform Addi has secured over $630 million in debt and equity from global banks including J.P. Morgan and Goldman Sachs, signaling that Latin American consumer credit risk can now tap US-style structured finance.
Addi, a Colombian buy-now-pay-lender, has closed more than US$630 million in new financing, relying heavily on structured debt from Wall Street institutions rather than traditional venture capital. The package includes a US$150 million credit facility led by J.P. Morgan and Fasanara, a US$50 million receivables purchase agreement from Goldman Sachs International Bank, and a US$235 million expanded facility from Goldman Sachs Bank USA and Fasanara. Victory Park and NB Asset-Based Credit Fund committed a further US$150 million, while BBVA Spark and BBVA Colombia contributed US$35 million and US$3 million respectively.
The capital stack is topped by an US$85 million Series D equity round led by Citius and co-led by BTG Pactual, with participation from Singapore’s sovereign wealth fund GIC and Monashees. This level of institutional backing was unlocked by Addi’s financial performance: the company reported more than US$150 million in annual recurring revenue and six consecutive quarters of profitable growth. Serving 3 million customers across 55,000 merchants in Colombia, the fintech has achieved a rarity in the sector by proving sustainable unit economics.
The deal marks a turning point for Latin American fintech financing. Historically dependent on equity to fuel cash-burning expansion, regional lenders are now accessing the same warehouse debt and receivables financing models used by US and European platforms. By packaging consumer loans with modern underwriting technology, Addi convinced global banks that Colombian credit risk is worth pricing into their portfolios. The involvement of GIC further suggests the company is viewed as foundational digital infrastructure rather than a high-growth gamble.
For established financial institutions, the transaction blurs the line between collaboration and competition. BBVA’s participation through its innovation unit and Colombian banking arm indicates a strategic partnership with a fintech that could eventually encroach on traditional banking services. Addi plans to use the capital to build its technology infrastructure and broaden its product suite, potentially moving into savings, insurance, or merchant cash advances.
Rather than pursuing immediate geographic expansion, Addi intends to deepen its dominance in underserved Colombian municipalities where traditional bank branches are scarce. This strategy, combined with a sophisticated capital structure, raises the bar for the broader LatAm ecosystem. Startups that cannot demonstrate clear paths to profitability and recurring revenue will likely find themselves locked out of the large-scale debt facilities now available to mature platforms.
