Tenet offers an EV-first climate fintech platform that packages tax incentives, residual value data, and charger installation into tailored financing for consumers, fleet owners, and partners. Its core product is EV financing complemented by TenetConnect, a smart charging suite built into customer accounts at no extra cost that can lower charging expenses and provide carbon- and cost-saving insights. The company serves thousands of EV owners nationwide and, since launching just over a year ago, estimates it helps avoid more than 5,000 tons of CO2 emissions annually. Tenet strategically leverages government tax credits and EV-specific attributes to offer lower monthly payments and plans to expand financing to solar panels, home batteries, and other energy-efficiency products to create an all-in-one home electrification platform. The business has also secured committed loan funding and warehouse capacity to scale its lending operations. Tenet operates an EV auto loan financing platform that integrates IRA tax credits and EV value retention to make electric vehicle ownership more affordable. Its financing product can reduce drivers' auto loan payments by up to $200/month and offers deferred down payment options, supporting purchases and refinances of EVs in New York. The company positions itself to accelerate EV adoption by leveraging policy tailwinds such as New York's zero-emission vehicle goals and federal incentives like the Inflation Reduction Act. Tenet was founded in 2021 and is headquartered in New York. It is backed by Human Capital, Giant Ventures, Breyer Capital, Global Founders Capital, Firstminute Capital and angel investors. Tenet provides an EV loan product that lets customers defer 10–25% of their loan amount to the end of the term, which the company says cuts monthly payments by about $200 on average. If accepted, Tenet directs borrowers to eligible dealers and marketplaces and expects partners to refer customers to its program. The company says it works exclusively with sustainability- and ESG-focused institutional investors and capital markets to access cheaper cost-of-capital and pass lower rates to consumers; Tenet declined to share specific interest rates, saying they vary by location. Tenet accepts FICO scores as low as 620, which limits eligibility for some prospective buyers. The startup does not alter vehicle sticker prices—the article notes the average new-car price is $56,437 per Kelley Blue Book—so customers still must afford the purchase. Down the line, Tenet says it may expand into financing zero-emission home upgrades such as EV chargers and heat pumps.

Total raised

$58M

Funding rounds

4

Latest round

Series A

Latest activity

Nov 2023