InKind lands $414 million led by Citi to dominate how independent restaurants raise money

Finance platform InKind has raised more than $1 billion in the past six months to invest in an industry many traditional lenders have long considered too risky: independent restaurants.

Today, InKind announced $414 million in financing in a round led by Citi and Cross River. The latest funding comes just one month after InKind secured $320 million from Liberty Mutual Investments and six months after announcing a $450 million round of debt and equity funding led by Magnetar, an Illinois-based investment firm.

To InKind founder and CEO Johann Moonesinghe, also a restaurateur, the institutional funding is validation of the company’s nontraditional financing bet.

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