Addi provides a digital payment platform that allows consumers in Latin America to make purchases at over 13,000 partner brands and pay in up to 24 installments using just their ID and WhatsApp. This service addresses the challenge of limited access to flexible payment options, enabling users to shop conveniently and transparently without being tied to traditional credit card processes.
Funding
$457.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+1Founders
Product
Problem
Consumers in Latin America often face limited access to flexible payment options, hindering their ability to make purchases, particularly with merchants who do not accept traditional credit cards. This restricts purchasing power and access to goods and services, especially for those without established credit or banking relationships.
Solution
Addi provides a digital payment platform that enables consumers to make purchases from partner brands and pay in installments using only their government-issued ID and WhatsApp. This buy now, pay later (BNPL) service integrates directly into merchants' online and physical storefronts, offering a seamless payment experience for customers. Addi leverages a proprietary risk engine to assess creditworthiness and approve installment plans in minutes. Customers can manage their payment schedules, track purchases, and access exclusive promotions through the Addi mobile application.
Target Audience
The primary target audience includes consumers in Latin America who seek flexible payment options for online and in-store purchases, particularly those without traditional credit cards or established banking relationships.
Features
- Integration with over 13,000 partner brands across various sectors, including fashion, electronics, and home goods
- Installment plans of up to 24 months, subject to eligibility criteria
- Instant credit approval using only a government-issued ID and WhatsApp
- Mobile app for managing payments, tracking purchases, and accessing exclusive deals
- Promotional campaigns offering purchase rewards
- Customer support available 24/7 via WhatsApp, email, and phone
- Merchant tools to track sales, manage transactions, and access marketing resources