Trinity Capital committed $15 million in growth capital to Kafene, a point-of-sale platform that helps retailers offer consumers more flexible purchase options through lease-to-own (LTO) agreements. The incremental growth capital will enable Kafene to continue to scale its commercial operations and reach a broader consumer base.
Kafene’s lease-to-own platform has generated more than $150 million in incremental sales for its retailer partners since its launch in 2020. With a proprietary machine learning model that leverages more than 20,000 data inputs, Kafene’s tiered financing approach offers each customer a financing option based on their risk profile.
“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,” Andrew Ghannam, managing director of technology lending at Trinity Capital, said. “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,” Neal Desai, co-founder and CEO of Kafene, said. “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.”
In 2023, Kafene finalized its Series B venture funding round at $31 million in equity financing led by Third Prime alongside existing investors.
