Kafene Raises $18 Million In Series B To Accelerate Growth In Helping Merchants Offer Flexible Lease-To-Own Financing Options For Consumers
Kafene Raises $18 Million In Series B To Accelerate Growth In Helping Merchants Offer Flexible Lease-To-Own Financing Options For Consumers
09/13/22, 3:31 PM
Location
new yorkMoney raised
$18 million
Industry
mobile
software
commerce and shopping
financial services
Round Type
series b
Kafene, a cutting-edge digital platform used by merchants at the point-of-sale to help offer underserved consumers more flexible purchase options through transparent lease-to-own (LTO) agreements, announced today that it has raised $18 million in a Series B funding round led by Third Prime and existing investors. This round follows a Series A investment of $30 million in 2021 that was co-led by Third Prime and Valar Ventures. Kafene will use the new capital to increase headcount to meet the demand from merchants and consumers for omni-channel, technology-enabled purchase options.
Company Info
Location
18 east 50th street, 6th floor
new york, united states
Additional Info
Kafene is a fintech company bringing innovation to a key segment of the point-of-sale financing market, the underbanked, with interest-free BNPL (Buy Now Pay Later) options as well as flexible lease-to-own options. Best-in-class artificial intelligence and machine learning technologies allow Kafene to offer purchasing solutions to these consumers for furniture, appliances, electronics, tires and other goods. Kafene's core product is an easy-to-use, lease-to-own / BNPL platform that underwrites, approves, and enables payment almost instantly. This helps retailers satisfy customer demand and make sales they would otherwise lose. Driving the experience is a suite of custom-built technology at the cutting edge of payment processing, servicing, and underwriting.
Kafene is backed by Third Prime, Valar Ventures, Company Ventures, Global Founders Capital, Uncorrelated Ventures, and other investors. For more information, please visit www.kafene.com and follow Kafene on our LinkedIn page.