Yonder

Based in the UK, Yonder provides a credit card and mobile app specifically designed for young professionals who lack a credit history. The company leverages open banking technology to analyze customers' spending patterns, enabling it to offer a credit card and provide personalized advice and guidance on responsible credit usage. It positions itself as a lifestyle platform, offering high rewards for spending on its card. Yonder charges a membership fee of GBP 15 per month, but it does not impose any foreign exchange fees. It also offers free worldwide family travel insurance.

Key customers and partnerships

In March 2024, the company partnered with Qover, a provider of embedded insurance, to provide travel insurance for its members. The insurance is active once the customer signs up for a full membership with Yonder.

Funding and financials

In April 2023, Yonder raised GBP 62.5 million (~USD 77.4 million) in a Series A funding round at a post-money valuation of more than GBP 70 million (~USD 86.7 million). The round consisted of GBP 12.5 million (~USD 15.5 million) in equity and GBP 50 million (~USD 61.9 million) in debt and was co-led by Northzone and RTP Global, with participation from angel investors. It had planned to use the fresh funds to launch its services in additional cities across the UK, double its workforce, and expand its credit rewards program. Furthermore, Yonder had plans to extend the funding round to its early stage members through a private crowdfund in the month.