Yendo

Yendo is a finance startup founded in 2021 in the United States, with a mission to provide equitable access to affordable credit, regardless of credit score. Their slogan, "A credit card fueled by your car, not your credit score," encapsulates their innovative approach. Leveraging ML/AI powered customer onboarding, Yendo has introduced the world’s first vehicle-secured credit card. Their product is positioned as a cost-effective alternative, being 95% cheaper than the non-bank financial products that Americans annually spend $45 billion on. The startup targets the segment of vehicle owners in the U.S. who collectively own $3 trillion worth of vehicles but are often denied credit by traditional lenders. By unlocking the untapped value in these vehicles, Yendo aims to address the credit needs of the millions who are currently underserved. Yendo received a $24.00M Series A investment on 20th February 2023. The investors participating in this round include AutoTech Ventures, Pelion Venture Partners, 1930 Capital, Human Capital, Uncommon Capital, FPV Ventures, and Aaron Frank. This substantial investment is a significant validation of Yendo's business model and its potential to disrupt the traditional lending market.