Restaurant commerce platform inKind has entered into a strategic financing partnership with Liberty Mutual Investments (LMI), the investment division of Liberty Mutual Group, to strengthen its support for the US restaurant industry.
As part of the agreement, LMI has provided more than $320 million in financing, serving as both senior and mezzanine lender. The funding is designed to expand inKind’s ability to provide capital to restaurants while supporting growth across the US foodservice industry, the country’s second-largest private-sector employer.
The transaction was completed through LMI’s Alternative Credit platform, which specialises in customised financing solutions. The deal highlights the platform’s capability to structure and deploy capital across multiple layers of a company’s capital structure.
The new funding will be used to expand inKind’s network of restaurant partners and accelerate the development of AI-native technology designed to help restaurant operators increase customer demand during slower business periods. These tools will leverage the platform’s network of more than four million diners across the United States.
Founded in 2014, inKind has provided more than $600 million in funding to restaurants nationwide while connecting them with millions of diners through its mobile application. More than 7,700 restaurants currently participate in the platform’s model, which provides funding in exchange for food and beverage credits that are sold to customers through the app. Diners can earn rewards of up to 25% when visiting participating restaurants.
Earlier this year, inKind also secured $450 million in funding to expand its platform to an additional 10,000 restaurants and further enhance its in-app dining experience. To date, the company has distributed more than $175 million in dining rewards to over four million users.
