A CREDIT FOR PURCHASES THAT MATTER With a little over a year operating in the Colombian market, ADDI is positioning itself through its technology in a segment that is very familiar and used by Colombians: the financing of their purchases by requesting loans at the point of sale. Traditionally, merchants grant credits directly to their customers from their own stores, as does, for example, Jamar or Flamingo. Now, ADDI is breaking into the payment method market, combining cutting-edge technology with a disruptive loan model that is already seen in countries like Australia, where the Afterpay company is generating billions of dollars in credits, or in the United States, where Affirm generates more than three billion dollars a year. ADDI grants credits digitally from the point of sale and ensures the financing of purchases without the need to process physical papers and in a few minutes.
Santiago Suårez, founder and CEO of ADDI, comments that this Fintech is the result of having lived for more than 15 years outside of Colombia, working in finance and technology, in banks as important and recognized as JP Morgan and in LendingClub, the largest and most important Fintech in the world at that time. His experience allowed him to know first-hand and understand the dimension of the impact of technology on access to credit, financial inclusion and experience from the consumer’s angle. Upon arriving in Colombia, and with the aim of contributing to the development and growth of the country, Santiago observed that in the national market only 15% of the population has access to a credit card. He also discovered that to obtain a loan you have to carry out a large number of procedures, get co-debtors, in addition to the high interest and intermediation
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