Tenet

What Tenet does

Tenet (legal entity Tenet Financial, Inc., operating as Tenet Energy Inc. for adjacent ventures) is a digital-first EV lending marketplace founded in 2021 and headquartered in New York, operating as a state-licensed lender in 36 U.S. states. The company underwrites and originates consumer auto loans for new and used electric vehicles — Teslas, Rivians, Hyundai IONIQ 5, Kia EV6, and other EVs and plug-in hybrids back to model year 2014 — with headline APRs ranging from 4.99% (800+ FICO, with 0.25% autopay discount) to 18.99% (subprime tiers). It serves individual EV buyers, Tesla purchasers in states where Tesla does not offer first-party financing, and the growing used EV segment through dealer, marketplace (Carvana, CarMax), and private-party channels.

The core platform is a self-serve digital lending flow with soft credit pull rate quoting, online application, digital document signing, and 24–48 hour funding — materially faster than traditional bank auto-loan processing. Tenet's underwriting is EV-aware, factoring in EV-specific collateral attributes (residual values, battery longevity, lower total cost of ownership) rather than treating EVs like gas cars. The core loan product is augmented with attach offerings (GAP insurance, extended warranty covering EV components like the inverter and thermal management system, and Level 2 home charger financing via partner Treehouse) and integrates with KeySavvy to enable private-party purchases with escrow, lien payoff, and title handling in a single protected workflow. Supporting tools include a payment calculator, a buying-power quiz, a TrueCar-powered EV inventory search, and an extensive SEO-driven knowledge center.

Tenet's capital stack combines approximately $28 million in equity (June 2022 round led by Giant Ventures and Human Capital with Breyer Capital, Firstminute Capital, and Global Founders Capital; November 2023 Series A led by Nyca Partners with Assurant Ventures and Giant Ventures) with $45 million+ in warehouse and credit-facility debt (NY Green Bank $25M credit facility and $10M warehouse, both November 2022; SVB $20M warehouse, November 2023), enabling balance-sheet lending against warehouse lines. Revenue derives from net interest margin on originated loans plus transaction fees on attached GAP, warranty, and charger products. Distribution is omnichannel across tenet.com, an inside sales team of EV financing specialists, referral codes, and integrations with major purchase platforms; the company has also announced plans to extend into residential solar and energy efficiency through the forthcoming TenetConnect platform.

Name

Tenet

Legal name

Tenet Financial, Inc.

Website

https://tenet.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Tenet is a digital-first EV lending marketplace originating consumer auto loans for new and used electric vehicles across 36 U.S. states, using EV-aware underwriting and credit-union-backed rate economics, with plans to extend into solar and energy efficiency via TenetConnect.

Ownership category

akta.pro rank

Product category

Consumer Auto Lending

NAICS

Credit Intermediation and Related Activities (522), Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

New & Used Auto Purchase Loans (FSAKADAA)

akta.pro secondary industries

Pricing, Risk-Based Offer & Limit Management (FSAGAHAE), Collateral, Lien & Asset Valuation Platforms (Auto, Equipment, Real Estate) (FSAGAHAG)

Keywords

• EV auto lending
• Electric vehicle loans
• Auto loan refinancing
• Lease buyout financing
• Vehicle protection products

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. EV Loan Interest: Tenet generates revenue through interest charged on EV loans. Rates range from 4.99% to 18.99% APR depending on credit score, with revenue accruing over the loan term. The company works with credit union partners to access competitive lending rates.
2. GAP Insurance: Guaranteed Asset Protection insurance offered at loan origination to cover the gap between loan balance and insurance payout if vehicle is totaled. Added during loan origination.
3. Extended Warranty: Vehicle service contracts offered at loan origination for extended mechanical breakdown coverage beyond manufacturer warranty.
4. Charger Installation Financing: Home charger installation offered as an add-on to vehicle loans, facilitated through partner Treehouse with installation and warranty services.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Tenet is a specialty EV lender that originates consumer auto loans, refinancing, and lease buyouts for electric vehicles through a digital-first platform backed by credit union capital. The company underwrites loans using EV-specific factors such as residual values and battery longevity, funds loans in 1-2 days, and operates across dealers, Carvana, CarMax, Tesla CPO, and private-party channels. Add-on offerings include GAP insurance, extended warranties, and home charger installation financing.

Product overview

Tenet is an EV financing platform that operates as a single unified product offering multiple interconnected loan and insurance products for electric vehicle purchases. The core platform consists of EV Financing (new loans, used loans, refinance, and lease buyouts) with rates starting at 4.99% APR. This core is augmented by add-on products including GAP Insurance, Extended Warranty, and Home Charger Installation. Supporting tools include a Calculator, Buying Power Quiz, Find an EV (TrueCar integration), and a Knowledge Center with educational content. The platform works across multiple purchase channels including dealers, Carvana, CarMax, Tesla CPO, and private-party sales through KeySavvy integration. Tenet also has plans to expand into renewable energy with the planned TenetConnect platform.

Differentiator

Problem solved

Functional benefit

Products and services

• New EV Loan Loan product for financing new electric vehicle purchases directly from manufacturers like Tesla, including Model 3, Model Y, Model S, Model X, and Cybertruck. Offers competitive credit-union-backed rates starting at 4.99% APR for excellent credit, with funding in 1-2 days and no fees or dealer markup.
• Used EV Loan Loan product for financing used electric vehicles back to model year 2014, available across dealers, Carvana, CarMax, Tesla CPO, and private-party sellers. Offers same rates as new EVs starting at 4.99% APR with a minimum loan balance of $10,000.
• EV Refinance Refinancing service for existing EV loans that enables borrowers to lower their rate and monthly payment. Fully digital process completed in 24-48 hours; Q1 2026 refinancers saved an average of $209 per month.
• Lease Buyout Loan product that enables EV lessees to buy out their existing lease and take ownership of the vehicle instead of returning it at lease end.
• GAP Insurance Guaranteed Asset Protection coverage that pays the difference between the outstanding loan balance and the insurance payout if the financed EV is totaled or stolen. Must be added at loan origination and cannot be added retroactively.
• EV Extended Warranty Vehicle service contract extending mechanical breakdown coverage beyond manufacturer warranty for electric vehicles. Covers electric motor, drive unit, inverter, power electronics, onboard charger, and thermal management system failures; added at loan origination.
• Home Charger Installation Level 2 home charger financing and installation service bundled into the vehicle loan through partner Treehouse. Includes one-year labor warranty and three-year manufacturer warranty, with permits handled by the installer.

Quantifiable outcome

• EV owners who refinanced in Q1 2026 saved an average of $209/month
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• KeySavvycoreTechnology or IntegrationKeySavvy is the private-party vehicle transaction platform Tenet uses for title transfer, escrow, and lien payoff. This integration enables secure private-party EV purchases with Tenet financing, handling registration and adding Tenet as lienholder.
• TreehouseminorImplementation/ SI/ Consulting PartnerTreehouse is Tenet's partner for home charger installation. They provide safe, high-quality Level 2 charger installation with one-year labor and three-year manufacturer warranties. Service can be added to the vehicle loan.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• LightStream: LightStream (a Truist division) is a national online lender offering unsecured and auto refinance loans with rate-based, digital-first origination. It is the most direct comparator to Tenet's online, soft-pull, fast-funding auto refinance model.
• Mya (formerly MotoRefi): Mya is a digital-first auto refinance platform focused on refinancing existing car loans, similar to Tenet's refinance product. Both compete on speed, transparency, and online UX versus dealer-arranged financing.
• RateGenius: RateGenius is an online auto refinance marketplace that matches borrowers with multiple lenders. It overlaps with Tenet's refinance value proposition and multi-lender distribution approach.
• AutoPay (Autopay): Autopay is a digital auto lending platform providing new, used, and refinance auto loans online. It competes with Tenet across the same consumer-facing digital lending experience and credit-tier underwriting.
• CarFinance.com: CarFinance.com is a digital auto loan originator specializing in subprime and near-prime borrowers with online application and broad dealer-network distribution, comparable to Tenet's PLG digital lending motion.
• RefiJet: RefiJet is an auto refinance specialist lender focused on lowering borrower payments through loan refinancing. It directly overlaps with Tenet's refinance product line and credit-tier targeting.

Emerging players

• Lendbuzz: Lendbuzz is an AI-driven auto finance platform using alternative credit data to underwrite near-prime and prime borrowers. It is comparable to Tenet in being a fintech-led auto lender focused on underserved credit tiers, though broader in credit strategy.

Broad incumbents

• Upgrade: Upgrade is an online consumer lender offering personal loans, auto refinance, and credit cards via a digital platform. It is comparable as a broader digital lending incumbent competing in the same refinance and personal-loan category as Tenet.
• SoFi: SoFi is a large digital personal finance platform offering auto refinance, personal loans, and banking products. It is a broader incumbent competing for the same digitally-engaged consumer borrower that Tenet targets.

Others

• Carvana: Carvana is an online used-car retailer that provides its own financing and accepts outside financing (Tenet is integrated). Carvana is comparable as both a distribution partner and as an example of higher-rate captive financing Tenet positions against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tenetenergy
• Instagraminstagram.com/tenetenergy
• Facebookfacebook.com/Tenetfinance
• LinkedInlinkedin.com/company/tenetenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tenet