Chicago Atlantic Provides Term Loan to a Pioneering Consumer-Tech Company That's Revolutionizing the Coffee Industry
Chicago Atlantic Provides Term Loan to a Pioneering Consumer-Tech Company That's Revolutionizing the Coffee Industry
CHICAGO--(BUSINESS WIRE)--Chicago Atlantic announced that it acted as administrative agent on the funding of a senior secured term loan for Terra Kaffe, Inc., a company specializing in high-end, bean-to-cup coffee machines.
"Terra Kaffe is uniquely positioned to capitalize on the growing consumer shift from pod-based coffee machines to bean-to-cup solutions," said David Enright, Partner and Head of Direct Lending at Chicago Atlantic. "We're impressed by how Terra Kaffe meets the demand for sustainable coffee options by reducing pod waste, lowering the cost per drink, and delivering higher-quality coffee—empowering consumers to make more eco-friendly and cost-effective choices without sacrificing flavor."
The company targets the high-end segment of the market, selling to coffee enthusiasts. With a sleek, modern design, the flagship product, the TK-02 allows users to make over 100,000 drink combinations, in addition to basic drip coffee. A connected app resonates well with the younger demographic who is increasingly getting involved in high-end home brewing experiences. Terra Kaffe primarily sells directly to consumers through its eCommerce website and has expanded to online stores like Amazon, Nordstrom, Bloomingdales, and Seattle Coffee Gear, experiencing strong growth with its primary product.
"From the first conversation, Chicago Atlantic has been an exceptional partner to Terra Kaffe, moving swiftly to understand our business needs and objectives. With their in-depth understanding around TK's strategy and operations, Chicago Atlantic worked collaboratively to structure capital that perfectly suits the company's needs for today and into the future," said Sahand Dilmaghani, Founder and CEO at Terra Kaffe.
About Chicago Atlantic
Chicago Atlantic is a private market lender focused on industries and companies where demand for capital exceeds traditional supply. The firm focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth & technology finance. Chicago Atlantic has closed over $2.7 billion in credit facilities since inception. Chicago Atlantic’s team of over 85 professionals has offices in Chicago, Miami, New York and London. For more information visit chicagoatlantic.com.
About Terra Kaffe
Terra Kaffe (TK) is a pioneering consumer-tech company that's revolutionizing the coffee industry in a sustainable fashion, getting customers to transition off of single-use, plastic coffee pods. TK marries innovation with sleek design, redefining coffee makers and brewing essentials to elevate the experience for both consumers and commercial clients. The Company's sleek hardware, cutting-edge software, and machine learning technologies create a comprehensive ecosystem that meets the evolving demands of all coffee lovers.
