COLOMBIA – Addi Secures $150 Million Credit Facility from JP Morgan for BNPL Expansion

Colombia-based fintech company Addi has secured a $150 million structured credit facility to expand its "Buy Now, Pay Later" (BNPL) operations across Latin America.

The breakdown of the funding:

• JP Morgan contributed $130 million
• Fasanara Capital provided the remaining $20 million 

What Is Addi?

Addi is a BNPL platform that offers point-of-sale financing – meaning you can buy something in a store (or online) and pay for it in installments over time, often with zero or low interest.

The company currently serves:

• Over 2.5 million users
• More than 33,000 merchant partners across Colombia 

Why Is This Important for Borrowers?

Addi focuses on segments of the population where access to traditional credit remains limited. In other words, they are trying to serve the "unbanked" and "underbanked" – people who cannot get loans from traditional banks but also should not have to turn to predatory loan sharks .

This deal brings Addi's total debt commitments to over $680 million – a massive amount of capital that will be deployed to offer financing to millions of people who might otherwise have no options .

The Institutional Vote of Confidence

When JP Morgan – one of the world's largest and most respected banks – leads a $130 million credit facility for a fintech company, that is a major signal. It means that global financial institutions believe in the company's credit model and its ability to lend responsibly.

What Is BNPL and Why Is It Growing?

BNPL (Buy Now, Pay Later) allows you to make a purchase and split the payment into 2-4 installments over several weeks or months. For example:

• You buy a ₦100,000 laptop
• You pay ₦25,000 today
• You pay ₦25,000 every two weeks for the next 6 weeks
• Zero interest (if you pay on time)

This model has exploded globally because it offers an alternative to credit cards and predatory loans. However, it also has risks – if you miss a payment, fees can add up quickly.