Fintech innovator and creator of the first vehicle-secured credit card, raises $50M to accelerate its expansion into digital banking
Yendo, the company behind the first-ever vehicle-secured credit card, has raised $50 million in a Series B funding round. The round included investors such as Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures. As part of the funding, Logan Green, Co-founder of Lyft and Venture Partner at Autotech Ventures, and Nick Huber, founder of Spice Expeditions, will join Yendo’s board of directors.
The funding will accelerate Yendo’s expansion beyond secured lending as it builds an AI-powered digital bank aimed at the millions of Americans underserved by traditional financial institutions. Yendo’s platform unlocks credit access by leveraging assets like cars and homes, tapping into an estimated $4 trillion of trapped equity and providing products typically reserved for super-prime customers.
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“We’re on a mission to transform consumer finance,” said Jordan Miller, CEO and co-founder of Yendo. “Our patented AI systems demonstrate that it’s possible to safely and affordably unlock trapped asset equity at scale. These systems dramatically reduce onboarding and operating costs, opening the most powerful credit products to underserved consumers. This funding accelerates our vision of creating a digital bank for the underserved majority, a platform that has already saved people hundreds of millions while providing access to credit they previously could not reach. We aim to deliver financial opportunity to over 65 million Americans.”
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Powered by proprietary AI, Yendo automates underwriting, asset verification, and lien filings in seconds tasks that typically take weeks and cost hundreds of dollars for legacy lenders. The technology reduces origination costs by up to 95%, allowing the company to serve borrowers often overlooked by traditional banks while generating robust digital identities to protect against AI-driven fraud. Customers benefit from industry-leading rates, rewards, and credit limits up to eight times higher than traditional offerings.
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Yendo addresses a silent crisis in American finance, where one in three people is denied meaningful access to credit and basic banking services. By harnessing untapped assets held by nonprime Americans, the company has already saved customers over $200 million in interest and fees and continues to grow at double-digit rates every month. With a wave of product launches planned for Q4 2025, Yendo is moving closer to its vision of building an inclusive digital bank for those long ignored by traditional lenders.
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