Trinity Capital, a notable player in the provision of diversified financial solutions, has invested $15m in growth capital to Kafene.
Kafene, renowned for its transparent lease-to-own (LTO) agreements, has proven its mettle in the retail sector. Since its inception in 2020, the platform has impressively generated over $150m in incremental sales for its retail partners.
This feat is largely attributed to Kafene’s cutting-edge machine learning model, which adeptly leverages over 20,000 data inputs. This innovative approach enables a tiered financing system, offering tailored financing solutions based on individual customer risk profiles, marking a significant advancement in the lease-to-own industry.
The funds from Trinity Capital are earmarked for a strategic expansion. Kafene intends to utilise this venture debt to amplify its commercial operations and extend its reach to a wider consumer base.
Neal Desai, co-founder and CEO of Kafene, shared his excitement about the partnership. He said, “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.”
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