Fintech Company Yendo Gains $200 Million to Scale Credit Card Offerings
Why are traditional lenders failing to provide affordable credit to main street consumers? Yendo, a fintech company serving main street consumers, has announced a $200 million funding commitment from i80 Group. This new capital will enable Yendo to scale its customer base and bring responsible credit products to consumers across the country.
The commitment follows Yendo’s $50 million Series B and will be used to accelerate the growth of the company’s full line of credit card products, including its flagship vehicle-secured credit card. “Over $70b in consumer loans are secured by assets each year, with pricing that simply doesn’t make sense given borrowers’ risk profiles,” said Jordan Miller, Co-founder and CEO of Yendo. “We are on a mission to create the most powerful and affordable credit products for those that have been mistreated for years by traditional lenders.”
Key Insights at a Glance
- Funding Commitment: Yendo has secured a $200 million funding commitment from i80 Group.
- Credit Card Products: The new capital will enable Yendo to scale its full line of credit card products.
- AI Infrastructure: Yendo’s proprietary and patent-pending AI infrastructure autonomously verifies and secures consumers’ assets.
- Customer Benefits: Yendo’s flagship vehicle-secured credit card offers higher credit limits and better value.
Why Traditional Lenders Fail to Serve Main Street Consumers
Traditional lenders originate over $70 billion in asset-backed consumer loans annually, but most rely on manual operations and outdated technology. This inefficiency leads to higher costs and less favorable terms for consumers. Yendo’s proprietary AI infrastructure autonomously verifies, evaluates, and secures consumers’ assets, ranging from vehicles to homes, in minutes. This efficiency allows Yendo to pass significant savings directly to the consumer while maintaining robust security and verification standards. Just as a well-oiled machine operates more efficiently, Yendo’s technology streamlines the loan origination process, cutting massive costs and improving consumer outcomes.
Why the Window for Action Is Closing Fast
Despite a broader pullback in private debt in 2024 and 2025, i80 Group’s investment in Yendo signals a significant vote of confidence. The deal highlights the company’s exceptional credit discipline and clear understanding of an underserved market. Yendo has demonstrated exceptional credit discipline and a clear understanding of an underserved market, said Peter Frank, Managing Director at i80 Group. “Their asset-backed approach provides real security while giving creditworthy consumers access to affordable credit.” Like a beacon in a storm, Yendo’s innovative approach stands out in a constrained market, positioning the company for responsible growth and expanded financial access.
Yendo Mobilizes to Scale Responsible Credit Solutions
Yendo is committed to scaling its responsible credit solutions to serve more consumers. The company’s proprietary AI infrastructure enables it to verify and secure assets in minutes, significantly reducing the time and cost of loan origination. This efficiency allows Yendo to offer higher credit limits and better rates to its customers. To date, Yendo has saved customers more than $150 million in interest and fees compared to alternative lending options, serving consumers across 45 states. Yendo will continue to leverage its technology to bring more people into the financial system with products that are transparent, affordable, and designed to build long-term financial health.
Future Outlook
Yendo is like a ship navigating through rough waters, using its advanced technology to chart a course toward financial inclusion. The company’s innovative approach and strong partnerships position it to continue expanding its reach and impact. With a clear mission to create powerful and affordable credit products, Yendo is poised to transform the lending landscape and bring responsible financial solutions to more consumers.
Conclusion
The $200 million funding commitment from i80 Group underscores Yendo’s potential to revolutionize the credit market for main street consumers. By leveraging advanced AI and a deep understanding of underserved markets, Yendo is creating more accessible and affordable credit options. Join the conversation in the comments below.
About Yendo
Founded in 2021 by Jordan Miller, George Utkov, and Daniel Ashy, Yendo is the creator of the first vehicle-secured credit card designed to broaden financial access. By allowing consumers to leverage the equity in their assets, Yendo provides revolving credit at fixed, affordable rates, agnostic of credit score.
About i80 Group
i80 Group is an SEC-registered, global investment firm that was founded in 2016. The firm provides asset-based credit solutions that help companies scale through critical growth milestones. The firm is headquartered in New York with an office in London.
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