- Company Overview:
- Yendo is a US fintech offering the world’s “first-ever vehicle-secured” credit card.
- Launched in 2022 and based in Dallas, Texas.
- Funding Details:
- Raised $165 million: $150 million in debt financing from i80 Group, and $15 million in equity from unnamed strategic investors.
- Service Offering:
- Enables underserved consumers to access equity in their cars.
- Provides up to $10,000 in revolving credit at interest rates similar to unsecured super-prime credit cards.
- Future Plans:
- Use funds to introduce new products, fuel customer growth, and expand services across all 50 US states.
- CEO Jordan Miller aims to expand access to affordable credit and execute an aggressive 2024 roadmap.
- Additional Information:
- i80 Group recently invested $150 million in Barcelona-based ID Finance for the growth of its financial wellbeing app, Plazo.
US fintech Yendo secures $165m in mix of debt financing and equity
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