Monday, November 4, 2024
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UK credit card start-up Yonder secures £23.4m in fresh funding

  • Funding Raised: £23.4 million.
  • Lead Investors: RTP Global and Repeat (formerly Jigsaw VC), with additional support from LocalGlobal, Seedcamp, and Northzone.
  • Previous Funding: In 2022, Yonder raised £62.5 million (£12.5 million in equity, £50 million in debt) at a valuation of over £70 million.
  • Use of Funds:
    • Expand team.
    • Enhance rewards offerings.
    • Accelerate international expansion, aiming to launch outside the UK by the end of 2025.
  • Company Overview:
    • Founded in 2021 and launched in March 2022.
    • Offers a lifestyle rewards credit card, using open banking data for personalized credit decisions rather than traditional credit checks.
  • Recent Developments:
    • Introduced a free membership tier.
    • Launched Yonder Flights, allowing members to redeem points on any flight globally.
  • Future Plans:
    • New partnerships with iconic global brands.
    • Additional features to promote responsible credit usage.

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