Trinity Capital – a leading provider of diversified financial solutions to growth-stage companies – announced the commitment of $15 million in growth capital to Kafene. This point-of-sale platform helps retailers offer underserved consumers more flexible purchase options through transparent lease-to-own (LTO) agreements.
Kafene’s lease-to-own platform has generated over $150 million in incremental sales for its retailer partners since its launch in 2020.
Through a proprietary machine learning model that leverages more than 20,000 data inputs, Kafene’s tiered financing approach offers each customer an optimized financing option based on their risk profile, an innovative solution in the lease-to-own industry.
Last year, Kafene finalized its Series B venture funding round at $31 million in equity financing led by Third Prime alongside existing investors. And this incremental growth capital will enable the team at Kafene to continue to scale its commercial operations and reach a broader consumer base.
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“Kafene’s advanced underwriting process makes it more efficient and affordable for consumers across the credit spectrum thereby allowing merchant partners to expand their customer base,” said Andrew Ghannam, Managing Director, Tech Lending at Trinity. “We’re excited to partner with their team and look forward to supporting the company’s growth.”
“It is very exciting to work with a capital partner like Trinity that is so aligned with Kafene’s vision for the future. This partnership will fuel our ability to serve Kafene’s growing network of merchants and customers while delivering high-quality credit performance for years to come.”
– Neal Desai, Co-Founder & Chief Executive Officer, Kafene
