inKind has closed an oversubscribed $414 million second financing tranche led by Citi and Cross River, bringing the restaurant commerce platform’s total capital raised to more than $1.2 billion.
The financing includes $175 million from Citi and $150 million from Cross River at the senior level, along with $50 million from Sagard, $25 million from Varadero Capital and $14 million from Trinity Capital in mezzanine financing.
The closing follows a recently announced $320 million commitment from Liberty Mutual Investments as a senior anchor and mezzanine lender. With the expanded facility, inKind plans to deploy more than $1 billion in growth capital to nearly 10,000 restaurants over the next year.
Citi’s participation also expands an existing relationship with inKind, following a 2025 investment by Citi Ventures.
inKind operates a restaurant commerce platform that combines upfront capital, demand generation, financial tools, guest rewards, proprietary data and AI-native capabilities. Its network currently connects more than 5 million diners with more than 8,500 restaurants representing nearly $30 billion in annual restaurant gross merchandise value.
The company has expanded from approximately 1,000 restaurant partners in 2022 to more than 8,500 today. Its user base has also increased from roughly 1 million in March 2024 to more than 5 million.
inKind has provided more than $850 million in growth capital to restaurant partners and delivered more than $225 million in dining rewards to guests. Its restaurant partners include MINA Group, Ethan Stowell Restaurants, José Andrés Group, Okàn, Kann and Superiority Burger.
KEY QUOTES:
“For more than a decade, inKind has been building a new way to finance and grow great restaurants.”
“The addition of Citi, a global systemically important bank, is an important signal that the market increasingly recognizes the strength of the inKind model. This financing gives us the capacity to scale the restaurant commerce infrastructure we have spent more than a decade building.”
“We believe inKind is still in the early chapters of what it can become. As our restaurant network grows, we can give more great operators access to millions of guests. As our guest base grows, we can give more diners access to the best restaurants in the country.”
Johann Moonesinghe, Co-Founder and CEO of inKind
