White-label buy now, pay later (BNPL) startup Addi, which currently operates in Colombia, will open for business in Mexico and Brazil by year-end. Addi was formed in 2018 and has received $31.3 million in funding from investors including Andreessen Horowitz and Quona Capital. Because credit card penetration in most markets in Latin America is less than 15%, the opportunity for BNPL lending is substantial. Manually processed in-store applications for installment loans have been available in select merchant categories such as apparel and consumer electronics in Argentina, Brazil, and Mexico f...