TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
November 20, 2024
Source: Victory Park Capital
Colombian fintech company specializes in payment solutions for consumers and merchants
BOGOTA, Colombia – November 19, 2024 – Addi, the Colombia-based fintech platform for integrated payments, shopping and banking, announced today that it has secured a $100 million credit facility from Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit. The new facility will support Addi’s financing of credit originations in Colombia as it provides buy now, pay later (“BNPL”) solutions to consumers and merchants.
“We’ve known the VPC team for over five years, and we’re excited to be partnering with them. Their experience in the private consumer credit space is unparalleled, and we look forward to working together in support of our mission to meet the historically underserved payment and credit needs of Colombians,” said Santiago Suarez, Co-Founder and CEO of Addi. “This new partnership will allow us not only to sustain our growth, but also to create and enhance our services to continue building a better customer experience.”
Founded in 2018, Addi has become a leading player in the Colombian fintech market by providing comprehensive shopping and payment solutions that have attracted close to 2 million customers and over 18,000 merchants. The partnership with VPC caps an outstanding year for Addi, in which the company reached profitability, obtained regulatory approval to become a bank, and launched its Marketplace platform. In under six months, the Marketplace platform has added over 500 merchants, with more than 20,000 monthly transactions and over 17,000 monthly buyers.
“Addi has rapidly emerged as an innovator in the Latin American financial ecosystem by powering the modern financial needs of consumers and businesses alike,” said Kinan Hayani, Managing Director at VPC. “We strongly believe in the company’s mission to broaden access to credit products for underserved and underbanked consumers across Latin America, and we recognize the added value Addi can bring to merchants by helping increase conversion rates at the point-of-sale.”
About Addi
Addi is a payments and shopping platform, and the leading provider of Buy Now Pay Later solutions in Colombia. Addi’s purpose is focused on creating abundance and generating pride among its customers and partners and that is how today, the company serves millions of customers and tens of thousands of merchants with its credit, payments and shopping solutions. Addi is backed by leading equity and debt investors, including Andreessen Horowitz, GIC, Union Square Ventures, Goldman Sachs and Victory Park Capital.
About Victory Park Capital Advisors, LLC
Victory Park Capital Advisors, LLC is an SEC-registered, established credit manager. The Firm was founded in 2007 and is headquartered in Chicago, Illinois, with additional resources in New York and Los Angeles. VPC provides custom financing solutions across the private capital spectrum, focusing on companies with strong corporate governance and a compelling growth trajectory. VPC invests in emerging and established businesses across various industries worldwide. For more information, please visit www.victoryparkcapital.com.
Media Contacts
Addi
Ana Maria Rojas Rodriguez, Addi
Victory Park Capital
Jordan Niezelski, Edelman Smithfield