PPU advises Goldman Sachs and Fasanara Capital on USD 170 million financing for Addi
PPU has counseled Goldman Sachs Bank USA and Fasanara Capital in the upsizing of a credit facility for Addi, a prominent buy-now-pay-later fintech operating across Colombia.
The transaction, which closed in March 2025, saw the facility increase from USD 100 million to USD 150 million, provided by Goldman Sachs, alongside a new USD 20 million mezzanine tranche extended by Fasanara Capital. The total value of the financing now stands at USD 170 million.
The transaction presented several complexities, notably the need to adapt Goldman Sachs’ original financing structure to accommodate Fasanara Capital as a mezzanine lender. The successful execution required meticulous coordination among legal teams in New York, Colombia, and the Cayman Islands.
PPU’s team was led by partners Hernando Padilla (pictured left) and Carolina Rozo (pictured right), with associates Daniel Vargas, Neider Londoño, Tomás Velasquez, and tax associates Natalia Guerrero and Laura Castro.
Other firms advising on the transaction included Cuatrecasas as Colombian counsel to Adelante Soluciones Financieras (Addi), Mayer Brown as New York counsel to Goldman Sachs Bank USA, Dechert as New York counsel to Fasanara Capital, Paul Hastings as New York counsel to Addi, Carey Olsen as Cayman Islands counsel to Addi.
This financing is expected to further empower Addi’s mission to broaden access to credit and foster financial inclusion in Colombia, setting a benchmark for future investments in the region’s technology sector.
