Leading restaurant-focused app and technology company inKind has raised $450m in capital to support hospitality operators in the US.
The company currently partners with around 6,000 restaurants and plans to use the new capital to reach a further 10,000 US venues over the next year.
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The round combines equity and debt and drew backing from several investors, including Peak6 founders Matt Hulsizer and Jenny Just, as well as former Sodexo US chief executive Sarosh Mistry and Condé Nast’s chief product and technology officer Vasanth Williams.
inKind says it has so far deployed more than $600m across various restaurant partners, ranging from larger groups and independent entities.
It added that 20 Michelin-starred restaurants and 50 James Beard Award nominees have also received funding from inKind.
The latest financing will be directed towards expanding access to capital for restaurant operators and attracting guests to participating venues.
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By GlobalDataAdditionally, inKind plans to expedite the development of its in-app dining experience for its growing subscriber base.
The company’s model offers restaurants upfront capital in return for food and beverage credits, rather than equity stakes or traditional loans.
Diners then buy and redeem these credits via the inKind app at partner locations through a “20% back rewards” model.
The company positions this approach as an alternative to conventional restaurant financing structures.
inKind co-founder and CEO Johann Moonesinghe said: “Restaurants are the heart of our communities, and they deserve partners who understand the unique support they need to thrive.
“Traditional restaurant financing models can drain equity, cash flow, and long-term viability. We created inKind to change that—offering a smarter, more sustainable way to fund restaurants without the burdens.
“Our model helps operators maintain cash flow, access capital quickly, and build more resilient businesses.”
