New partnership brings lease-to-own option to members
By Andy Kriege, YSN
Kafene, a point-of-sale leasing platform that helps retailers offer underserved customers more flexible purchase options through lease-to-own (LTO) agreements, has entered a new merchant partnership with BrandSource.
Effective immediately, the company’s LTO consumer financing program will be available to all BrandSource members.
Kafene was founded in 2019 with the goal of offering flexible ownership solutions to customers with less-than-perfect credit scores. According to the New York-based firm, it accomplishes this by leveraging state-of-the-art technology to bring innovative LTO purchasing options to furniture, appliance and electronics dealers.
Kafene’s core product is a web- and app-based LTO platform that underwrites, approves and enables payment in under five minutes. The company says it uses more than 20,000 data inputs in tandem with cutting-edge AI and machine learning technologies to create what it describes as a seamless financing experience for both merchants and customers.
By providing retail partners with LTO purchase options for both prime and non-prime consumers, Kafene helps merchants expand their customer base and increase the spending power of each potential customer, the company said. Indeed, Kafene has generated more than $150 million in incremental sales for its retailer partners since its launch, it said, and its innovative risk-based pricing model means BrandSource members can guarantee their customers will receive the best financing possible based on their risk profile, representing a first for the LTO industry.
“We’re incredibly excited to add BrandSource as our latest national partner, enabling their member stores around the country and across industry verticals to offer Kafene to their customers,” said Tony Cerino, the company’s senior vice president of partnerships. “This partnership marks another major step in Kafene’s growth phase.”
To Chad Evans, AVB’s vice president of merchandising, the partnership represents “a win-win for BrandSource retailers and their customers.”
For more information visit Kafene.com.
YSN publisher AVB BrandSource is the nation’s largest merchandising and marketing co-op for independent appliance, mattress, furniture and CE dealers.
