Liberty Mutual Investments announced a strategic financing partnership with inKind, a restaurant commerce enablement platform and technology company. LMI provided more than $320 million in financing, serving as both a senior and mezzanine lender.
The financing will support inKind’s work helping restaurants access customers, capital, and technology. The investment is also intended to help inKind expand its platform of more than 7,700 restaurants and accelerate customer growth.
Founded in 2014, inKind has provided more than $600 million in funding to restaurants across the U.S. The company connects restaurants with millions of customers through its app.
inKind’s model provides restaurants with capital in exchange for food and beverage credits. Those credits are sold to diners through the inKind app, which offers users up to 25% back in rewards when they dine at restaurants on the platform.
The company said this approach gives restaurants a customer retention tool while helping them convert future customer demand into growth capital. inKind is focused on giving operators an alternative to expensive debt, dilutive equity, and discount-driven marketing.
The transaction was led by LMI’s Alternative Credit platform, which focuses on bespoke financing solutions. LMI said the partnership demonstrates its ability to invest across the capital structure.
The investment will support the continued expansion of inKind’s restaurant network. It will also help fund the development of AI-native tools designed to help operators drive demand during slower periods from inKind’s national base of diners.
Earlier this year, inKind raised $450 million in capital to expand the platform to 10,000 additional restaurants and enhance its in-app dining experience. To date, the company has rewarded more than four million users with over $175 million in dining rewards.
Liberty Mutual Investments invests more than $125 billion of long-term capital globally on behalf of Liberty Mutual Group. The firm invests across liquid, credit, and alternative strategies with a focus on building enduring businesses with partners.
inKind currently connects nearly five million guests with more than 7,700 restaurants across the U.S. Its restaurant partners include groups such as MINA Group, Ethan Stowell Restaurants, and José Andrés Group, along with independent restaurants including Okàn, Kann, and Superiority Burger.
KEY QUOTES:
“Restaurants are one of the most powerful engines of local job creation in this country. When a great restaurant grows, it creates opportunity for chefs, servers, bartenders, managers, suppliers, landlords, and the neighborhoods around them. inKind was built to help those operators access growth capital and bring more guests to the table without relying on expensive debt, dilutive equity, or discount-driven marketing. Liberty Mutual Investments understands that this is not just about financing transactions—it is about backing entrepreneurs, creating jobs, and helping the places where communities gather continue to thrive.”
Johann Moonesinghe, CEO and Co-Founder of inKind
“The inKind team has built an exceptional and differentiated platform that creates value for restaurants and consumers alike, and we are tremendously excited to partner with them as they kick off this next phase of growth. This transaction reflects our conviction in businesses that expand economic opportunity through innovative solutions, and our long-term capital and ability to invest across capital structures position us to be a strategic partner as inKind continues to scale its impact.”
John Kim, Head of Alternative Credit at Liberty Mutual Investments
