Credit card start-up raises equity and debt funding
IN BREIF:
Yonder has raised £12.5m in equity and £50m in debt as part of its Series A as post-money valuation rises to £70m
The round was co-led by Northzone and RTP Global and had participation from angel and existing investors
With tis funding, Yonder plans to double the size of its team and expand its credit rewards offering
What does this mean?
“We’ve built Yonder as a key to the city for young professionals, which encourages responsible use of credit while helping them to unlock more value from their spending,” says Yonder CEO Tim Chong. “The response so far has proved to us that we’ve built something that consumers really want and signals a shift in the way consumers want to use and engage with credit.”
