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Yendo raises USD 165 million in equity and debt funding for customer and geographical expansion
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May 17, 2024
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Yendo raises USD 165 million in equity and debt funding for customer and geographical expansion

Funding

  • Yendo, a company offering a vehicle-secured credit card for subprime consumers, has raised USD 165 million through equity and debt financing. The debt financing was led by i80, while the equity was raised from undisclosed strategic investors. The company's total funds raised now stand at USD 257.5 million.

  • Yendo plans to use the fresh funds to introduce new products, fuel customer growth, and expand its services across all 50 US states. Currently, its services are available in 40 states.

  • Analyst QuickTake: Yendo’s previous funding round took place in June 2023, when it raised USD 24 million in Series A financing. The funds were utilized for recruitment, expanding into new markets, improving its product suite, and adding new features and tools to help customers achieve their financial goals.

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