NYC-based Kafene secures $15million in growth funding. The funding was supplied by Trinity Capital (Nasdaq: TRIN).
With the money, the business hopes to expand its customer base and keep growing its commercial operations. Kafene, a point-of-sale leasing company based in the United States, is led by CEO Neal Desai and is committed to providing clients with various ownership options.
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The firm helps retailers address the growing demand for durable products like tires, appliances, furniture, and electronics by letting its retail partners to offer flexible LTO buying alternatives for prime and nonprime consumers.
Kafene completed a $31 million equity financing investment for its Series B venture funding round in 2023, with the help of current investors and Third Prime leading the way. Since its 2020 launch, the company has brought in over $150 million in additional sales for its merchant partners.
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Neal Desai 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.”
About Kafene
Leading point-of-sale financing partner Kafene is committed to giving underserved consumers around the country access to flexible ownership options. Kafene helps retailers satisfy the rising demand for durable products like tires, appliances, furniture, and electronics by enabling their retail partners to offer flexible lease-to-own (LTO) purchase choices for prime and nonprime consumers.
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