Restaurant commerce enablement platform inKind raises $450m

Core Insights - inKind, a leading restaurant-focused app and technology company, has raised $450 million in capital to support hospitality operators in the US [1] - The company aims to expand its partnerships from 6,000 to 10,000 restaurants over the next year [1] Funding Details - The funding round includes both equity and debt, with backing from notable investors such as Peak6 founders Matt Hulsizer and Jenny Just, former Sodexo US CEO Sarosh Mistry, and Condé Nast's chief product and technology officer Vasanth Williams [2] - inKind has deployed over $600 million across various restaurant partners, including larger groups and independent entities [2] Targeted Use of Funds - The new financing will be used to expand access to capital for restaurant operators and attract guests to participating venues [3] - inKind plans to accelerate the development of its in-app dining experience for its growing subscriber base [3] Business Model - The company's model provides restaurants with upfront capital in exchange for food and beverage credits, rather than equity stakes or traditional loans [4] - Diners can buy and redeem these credits via the inKind app at partner locations through a "20% back rewards" model, positioning this approach as an alternative to conventional restaurant financing structures [4] Leadership Perspective - inKind co-founder and CEO Johann Moonesinghe emphasized the importance of supporting restaurants, stating that traditional financing models can harm equity and cash flow [5] - The company aims to offer a more sustainable funding method that helps operators maintain cash flow, access capital quickly, and build resilient businesses [5]