Firm Offers EV Financing Program

By Staff Writer July 01, 2022 223

Tenet recently unveiled a new financial solution that lowers the cost of ownership for EVs. Launching with its EV financing platform that rejects standard car depreciation models and values EVs as clean collateral, Tenet also plans to expand into zero-emission home upgrades to help consumers better achieve their financial and sustainability goals.

The company also announced that it has raised seed funding of $18 million, led by Human Capital and Giant Ventures with participation from Breyer Capital, Global Founders Capital, Firstminute Capital, and prominent angel investors including Michael Tannenbaum, Gokul Rajaram, Michael Ovitz, and more.

According to Tenet’s press release, today’s traditional auto financing options don’t account for the long-term value that EVs retain, resulting in unnecessarily high monthly payments and a disconnect between the smart financial decision and the sustainable one.

By leveraging EVs’ residual value, which is far better than gasoline-powered cars, Tenet has redefined the terms of a traditional auto loan and created an innovative financial solution that will drive even wider adoption of zero-emission technologies. Tenet is building a new infrastructure that supports consumers’ converging financial and sustainable goals while easily integrating with partners so consumers can qualify, apply and sign up through Tenet’s platform.

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Last modified on Friday, 01 July 2022 12:53