Yendo offers a credit card product that is secured by the value of a customer's car, allowing individuals with limited or poor credit histories to access up to $10,000 in revolving credit. This approach differs from traditional credit cards, which typically rely on credit scores for approval. Customers apply for the card, and if approved, their vehicle serves as collateral, reducing the risk for Yendo and enabling them to serve a broader customer base. The company generates revenue from interest on credit card balances, but customers who pay their balance in full each month incur no interest charges. Yendo's application process is quick and straightforward, with pre-approval decisions made in minutes and no impact on the applicant's credit score. The company prioritizes security and customer service, receiving positive feedback for its helpfulness and commitment to assisting customers in improving their financial situations.

Shark Tank

Vivek Garipalli

Pelion Venture Partners

Bloom VP

Mark Cuban

Uncommon Capital

Spacecadet Ventures

Leo Polovets

1930 Capital

Bill Clerico

I80 Group

Autotech Ventures

FPV Ventures

Human Capital

Fintech

Financial Services

Yendo

Yendo, the company that created the first-ever vehicle-secured credit card, today announced the close of $150 million in debt financing led by i80 Gro

Fintech Company Yendo Raises $165 Million in New Capital to Fuel Growth

Yendo, the company that created the first-ever vehicle-secured credit card, today announced the launch of Auto Refi Credit Card, a new product that gives consumers the option to refinance their auto loan and access up to $10,000 of credit through the Yendo credit card, powered by MastercardⓇ. This new offering expands the universe of consumers Yendo can serve by providing customers across the credit spectrum the ability to access affordable credit even when they’re still making payments on their car.Consumers who choose to refinance their auto loan through Yendo can access a new line of credit of up to $10,000, depending on the value of their car, and potentially lower their monthly payments. The average Yendo customer saves $450 on their monthly auto payment by refinancing their loan with a Yendo credit card. As customers pay down their auto loan, their credit limit on their Yendo card increases, enabling them to access more money when they need it. Customers who apply for a Yendo credit card can be pre-approved within minutes with no impact to their credit score and get instant access to their credit limit and auto refinance in minutes.“There’s billions of dollars tied up in peoples’ cars, which are often the largest asset for many Americans, especially those that find themselves with limited lending options” said Jordan Miller, CEO and founder of Yendo. “We want to help consumers tap into the equity trapped in their car to gain access to prime rate credit and we’re thrilled to offer a product that allows consumers who don’t yet own their vehicle the option to refinance their loan with a Yendo credit card, saving them hundreds of dollars on their monthly auto loan payments in addition to unlocking the equity trapped in their vehicles

Fintech Company Yendo Expands Reach With Launch Of Auto Refi Credit Card

Yendo Expands Reach With Launch Of Auto Refi Credit Card

Yendo also closed a $60 million debt financing round in 2022, according to PitchBook.

Fast-growing fintech firm backed by Mark Cuban raises $165M in debt, equity financing

Exclusive: fintech Yendo has raised $150 million in debt and $15 million in equity.

Exclusive: Fintech Yendo has raised $150 million in debt and $15 million in equity

DALLAS--(BUSINESS WIRE)--Yendo, the company that created the first-ever vehicle-secured credit card, today announced the close of $150 million in debt financing led by i80 Group. The financing will be used to fuel customer growth, introduce new products and expedite the expansion of the company’s offerings across all 50 states. Specifically, Yendo will use the financing to fund the growth of originations on its platform, which will enable the company to extend credit to more Americans at affordable rates. In addition to the debt facility, Yendo has raised $15 million in equity from undisclosed strategic investors. Yendo provides a vehicle-secured credit card with prime rates to the millions of Americans who have historically lacked access to the financial system because of their credit score. Through Yendo, underserved consumers can tap into the equity of their car to gain access to up to $10,000 of revolving credit at interest rates comparable to unsecured super-prime credit cards

Fintech Company Yendo Raises $165 Million In New Capital To Fuel Growth

Wesley Chan, co-founder and managing partner at FPV Ventures, will join Yendo’s board as agreed upon for his fund’s investment.

La La Land Kind Cafe Receives $20 Million Investment From John Phelan of Private Investment Firm Rugger Management LLC and Private Investor Andy Teller

Yendo, a Dallas, TX-based company that created a vehicle-secured credit card, raised $24M in Series A funding.

Yendo Raises $24M in Series A Financing

The company, Yendo, helps new borrowers access credit.

Exclusive: Car-secured credit card startup raises $24M

Yendo is a credit card fueled by one's car, not his credit score.

Yendo

Car-secured credit card for individuals

Yendo

Car-secured credit card for individuals

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