Yendo announced it has secured a $200 million funding commitment from i80 Group to accelerate the growth of its AI-enabled credit card products. The new capital will support up to $200 million in additional credit card originations, allowing the company to expand its customer base nationwide and continue delivering asset-backed credit solutions to consumers.
The commitment follows Yendo’s earlier $50 million Series B round and is structured as a warehouse facility designed to fuel expansion of the company’s full suite of credit card offerings, including its flagship vehicle-secured credit card.
Founded in 2021, Yendo leverages proprietary and patent-pending artificial intelligence infrastructure to modernize the origination of secured consumer credit. While more than $70 billion in asset-backed consumer loans are originated annually, the company notes that many traditional lenders continue to rely on manual processes and legacy systems to originate these products.
Yendo’s platform autonomously verifies, evaluates, and secures consumer assets — ranging from vehicles to homes — in minutes. According to the company, its AI-powered infrastructure can affect security interests in these assets at a fraction of the cost of legacy lenders, reducing processes that historically took weeks down to minutes. These efficiencies are designed to lower origination costs and enable Yendo to pass savings on to customers in the form of higher credit limits and more competitive rates.
Through its flagship vehicle-secured credit card, customers can use their vehicle as collateral to access significantly improved terms compared to unsecured credit products. The company reports that customers receive average credit limits up to eight times higher than those typically offered on unsecured cards. In addition, the card provides prime-like interest rates and enhanced rewards, positioning it as an alternative to high-interest credit options commonly available to underserved borrowers.
The deal comes amid a broader contraction in private debt markets across 2024 and 2025. With only 176 private credit vehicles closing in the past 12 months — the lowest number in at least five years — the commitment signals confidence in Yendo’s credit models and asset-backed approach.
Yendo reports double-digit growth in both revenue and originations and says it has saved customers more than $150 million in interest and fees compared to alternative lending products. The company currently serves consumers across 45 states.
Founded by Jordan Miller, George Utkov, and Daniel Ashy, Yendo aims to broaden financial access by enabling consumers to leverage equity in their assets to obtain revolving credit at fixed, affordable rates, regardless of credit score.
i80 Group, founded in 2016 and headquartered in New York with an office in London, is an SEC-registered global investment firm that provides asset-based credit solutions to help companies scale through critical growth milestones.
KEY QUOTES
“Over $70b in consumer loans are secured by assets each year, with pricing that simply doesn’t make sense given borrowers’ risk profiles. We are on a mission to create the most powerful and affordable credit products for those that have been mistreated for years by traditional lenders. This new warehouse facility enables us to scale responsibly and bring more people into the financial system with products that are transparent, affordable, and designed to build long-term financial health.”
Jordan Miller, Co-founder and CEO, Yendo
“Yendo has demonstrated exceptional credit discipline and a clear understanding of an underserved market. Their asset-backed approach provides real security while giving creditworthy consumers access to affordable credit. In an environment where lenders are pulling back, we see Yendo as a category leader with significant room to scale responsibly.”
Peter Frank, Managing Director, i80 Group
