Yendo Raises $165 Million to Expand Platform for Underserved Americans
Yendo Raises $165M in Funding
Yendo's Debt Financing and Equity Raise
Key Highlights:
- Debt Financing: Raised $150 million in debt financing from i80 Group.
- Equity Raise: Secured $15 million in equity from undisclosed strategic investors.
- Platform Growth: Funds will be used to expand originations on Yendo's platform, providing affordable credit to more underserved Americans.
Yendo's Target Market
- Underserved Consumers: Americans with limited access to the financial system due to their credit scores.
- Vehicle Owners: Individuals who own a vehicle and can leverage its equity to access revolving credit.
- Auto Loan Refinancing: Customers who want to refinance their auto loans through Yendo to increase their credit card availability.
What Yendo Needs to Buy
- Technology and Infrastructure: Investments in technology and infrastructure to support the expansion of Yendo's platform and improve customer experience.
- Marketing and Customer Acquisition: Strategies and partnerships to reach and acquire underserved consumers who can benefit from Yendo's vehicle-secured credit card.
- Regulatory Compliance: Compliance services and expertise to ensure adherence to financial regulations and maintain trust with customers.