Chowder Moves Into Its Growth Phase
Today, Chowder, LLC, a leading lease-purchase company focused on providing affordable payment options for critical in-home systems to cash- and credit-constrained customers, announced the close of its seed funding round. The investment was made by a group of investors led by S.R. Hadden, LLC and marks the first equity raise by Chowder.
Chowder will use the funding to move into its growth phase in which strategic partnerships will be consummated, a 46-state geographic footprint will be established, and national contractor relationships will be secured. Chowder will reach customers through its contractor ecosystem and provide flexible leasing options to customers who would otherwise not be able to afford critical in-home systems. This funding is concurrent with Chowder’s capital raise through a Senior Secured Credit Facility which it hopes to complete in the next few weeks.
“We believe that by providing flexible payment options to cash- and credit-constrained customers, we can help them afford the critical household systems they need to be safe, comfortable, and healthy. Our easy-to-use contractor technology makes it simple and accessible for this underserved market,” said Chris O’Reilly, CFO and Co-founder of Chowder. “We will now be able to do this on a larger scale since we have been joined by a group of investors that is knowledgeable in this space and has provided capital for growth!”