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Contxto – Funding may be tight throughout the present Covid-19 context, however some startups are nonetheless closing fairness offers. That is fintech ADDI’s case. Yesterday (21), the loaning startup introduced it acquired a capital injection for US$15 million in an funding spherical led by Quona Capital.
Different contributors embody Basis Capital, S7 Ventures, in addition to returning buyers Andreessen Horowitz and monashees.
This loaning startup launched operations in 2018 and with its newest spherical, ADDI has amassed practically US$32 million in funding. And the Bogotá-based startup has loads of plans in relation to its funding.
ADDI eyes international markets
The Colombian fintech will make a world leap into each Brazil and Mexico by the tip of this yr due to Quona and buddies’ funding.
“Even though the global crisis has delayed our plans a bit, we believe that the market opportunity we’ve found in Brazil and Mexico is just as good as the one we saw in Colombia,” acknowledged Santiago Suárez, the fintech’s co-Founder and CEO. “This is an additional reason for which we decided to seek out additional resources this year.”
One other share of the funds can be used to enhance its loaning platform and enhance its capability. ADDI can even supply its prospects help applications in mild of the financial disaster that’s coming.
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Loaning fintechs to the rescue?
ADDI constitutes Quona Capital’s first contribution to a Colombian startup. As a agency specializing in fintechs, it already has a notable presence throughout the fintech ecosystem of Latin America. Its different portfolio corporations embody Mexican startups Konfío and Klar, in addition to Brazilians, Neon and Creditas.
Actually Covid-19 is placing loads of folks in a pickle—and in want of a loan. And naturally startups have been eager to cooperate (and discover the financing for it).
Simply this week, one other Colombian fintech, Zinobe, introduced it raised a financing spherical for as much as US$30 million in credit score.
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