Yendo, a Dallas, TX-based company that created a vehicle-secured credit card, raised $24M in Series A funding.
The round was led by FPV Ventures, along with existing investors Human Capital and Autotech Ventures.
The company intends to use the funds to make key hires, enhance the product experience and expand into more states. As part of the deal, lead investor Wesley Chan will join the board.
Founded in 2021 by Jordan Miller (CEO), George Utkov, and Daniel Ashy, Yendo is a provider of a vehicle-secured credit card created for Americans who have historically lacked access to the financial system because of their credit score, or lack thereof.
With Yendo, consumers who own their car can tap into the value of their vehicle to gain access to up to $10,000 in revolving credit at a fixed, affordable rate, agnostic of their credit score. The company determines a person’s credit limit based on factors including their income and expenses, as well as the value of their vehicle.
FinSMEs
20/06/2023