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News

Yonder secures GBP 23.4 mln in new funding

Thursday 19 September 2024 15:17 CET | News

Yonder, a rewards-focused credit card, has secured GBP 23.4 million in new funding, led by Repeat (formerly Jigsaw) and RTP Global, with additional backing from Latitude. 

 

As per the press release, this funding round increased Yonder's valuation to over GBP 100 million. The fund is set to fuel Yonder’s plans for product development, expansion, and hiring as it aims to become a leading rewards platform for travel, social activities, and city exploration. Key initiatives include proprietary travel perks like "Flights and Stays," which enable members to redeem points for flights and hotel stays worldwide.

Moreover, the company plans to expand into European and international markets and roll out new products that align with its goal of providing seamless financial access and cash flow management. 

Yonder, a rewards-focused credit card, has secured GBP 23.4 million in new funding, led by Repeat (formerly Jigsaw) and RTP Global, with additional backing from Latitude.

 

This funding follows Yonder's previous Series A round in April 2023, where it raised GBP 12.5 million in equity and GBP 50 million in debt. The press release states that the past funding helped the company grow by expanding its rewards into new categories and launching city-based experiences in the UK.  

Launched in spring 2022, Yonder offers a unique approach to rewards, with a focus on improving consumers’ relationship with credit cards by providing a user-friendly experience that promotes responsible credit use. Members can earn rewards across dining, entertainment, lifestyle, and travel, with the ability to redeem points for flights with any airline to any destination. 

The startup has seen threefold year-over-year growth, with members spending nearly GBP 200 million and visiting Yonder’s Experience partners more than 60,000 times since its launch. 

About Yonder  

Yonder is a modern rewards credit card that seeks to help young people to unlock memorable experiences in their city and beyond. Launched in 2022 and headquartered in the UK, Yonder is on a mission to rebuild customers’ relationships with credit through a unique take on loyalty rewards spanning dining, entertainment, lifestyle and travel categories. Yonder has raised a total of GBP 42.3 million with VC funds Seedcamp, Northzone, LocalGlobe, Repeat (formally Jigsaw) and RTP Global and includes Oliver and Alexander Kent-Braham (Marshmallow) and Rio Ferdinand among its angel investors. 

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Keywords: funding, investment, expansion, credit card, Venture Capital
Categories: Payments & Commerce
Companies: Yonder
Countries: United Kingdom
This article is part of category

Payments & Commerce

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Yonder

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