Yonder, a fintech startup that helps expats get credit cards and offers rewards for spend, raised $78 million in debt and equity using this 11-slide pitch deck
Founded in 2020, the company offers a subscription fee-based credit card for UK users. Yonder, a London-based credit card startup, has raised $78 million in debt and equity in a new funding round.
The startup began life looking to serve expats in the UK who didn't have a credit score, but it also serves a wider market of customers living in major cities like London and Manchester. Despite a depressed macroeconomic environment, Yonder CEO Tim Chong told Insider that consumer spending hadn't declined for the company as it looks to expand its product.
Yonder claims to have had more than 20,000 applications for its cards. Prospective users — most of which now do have a credit history — are put through a credit check, an Open Banking powered affordability check, and various know your customer measures.. This latest raise comes in the form of £12.5 million, about $15.7 million, in equity and £50 million, roughly $62.6 million, in debt.
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