Yonder, a fintech company specializing in credit cards, has secured £23.4 million in new funding to support its expansion efforts beyond the UK market. RTP Global and Repeat (formerly Jigsaw VC) co-led the funding round, with additional contributions from LocalGlobal, Seedcamp, and Northzone.
Last year, Northzone and RTP Global collaborated to raise £62.5 million for Yonder, comprising £12.5 million in equity and £50 million in debt, valuing the company at over £70 million. Yonder announced the funding raise on LinkedIn, stating that the funds will be used to grow the team, enhance rewards, and accelerate international expansion.
The company aims to launch outside the UK by the end of next year. Yonder, established in 2021 and launched in March 2022, offers a lifestyle rewards credit card and employs open banking instead of traditional credit checks to understand customers’ spending habits based on transactional data, providing a more personalized experience.
The company has recently expanded its services, introducing a free membership tier and Yonder Flights, enabling full members to redeem reward points for flights with any airline worldwide. It foresees an active couple of years ahead, with plans to establish new partnerships with renowned global brands and introduce additional features to promote responsible credit usage.
