USA – Kafene, a New York-based fintech startup, raised $18M in Series B funding.
The round was led by Third Prime and Valar Ventures. The company intends to use the funds to increase headcount and expand its business reach to meet the demand from merchants and consumers for omni-channel, technology-enabled purchase options.Led by CEO Neal Desai, Kafene is a 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 that help retailers of furniture, appliances, electronics, tires and other goods broaden their addressable market. The company utilizes more than 20,000 data inputs in tandem with artificial intelligence and machine learning technologies to underwrite, approve using efficient risk-based pricing, and enable payment in a near-instantaneous manner, while creating an improved customer experience.14/09/2022
