Tenet

Provides loans and refinancing for electric vehicles

New York City, New York, United States

About Tenet

Tenet provides loans and refinancing options specifically for electric vehicles (EVs), catering to environmentally conscious consumers. The company focuses on the green finance market, helping individuals purchase new EVs or refinance existing ones to lower their monthly payments. Tenet's business model is centered around offering tailored financial solutions for EV owners, which allows it to provide competitive rates and terms that traditional lenders may not offer. By leveraging technology, Tenet ensures a seamless online application process for its clients. A unique aspect of Tenet is its commitment to sustainability; it not only assists with financing but also offers tools for users to monitor their vehicle's efficiency, track carbon emissions savings, mileage, and battery health. This focus on the specific needs of EV buyers and owners sets Tenet apart in the automotive finance industry, with the goal of making EV ownership more accessible and affordable.

New York City, New YorkHeadquarters
2021Year Founded
$27.2MTotal Funding
LENDING_CAPITALCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Risks

Traditional financial institutions entering EV financing could erode Tenet's market share.
Rising interest rates may reduce demand for Tenet's financing options.
Rapid EV tech advancements could increase vehicle depreciation and default risks.

Differentiation

Tenet specializes in loans and refinancing exclusively for electric vehicles.
The company offers a fully digital financing experience for environmentally conscious consumers.
Tenet provides tools to monitor carbon emissions, mileage, and battery health.

Upsides

Tenet raised over $30M to expand its EV financing platform in 2023.
Partnership with Point Predictive enhances loan approval with automated income validation.
Bundling EV chargers with loans differentiates Tenet's offerings in the market.

Funding

Total raised$27.24 M
Latest valuation$90.00 M
StageLENDING_CAPITAL