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Last edited by Asilvering (talk | contribs) 35 days ago. (Update) |
Industry: Financial Services, Fintech
Founded: 2021
Headquarters: Dallas, Texas, USA
Website: https://www.yendo.com
Overview
Yendo is a fintech company specializing in providing consumer credit cards secured by vehicle equity. Its flagship product, the vehicle-equity-secured credit card, allows consumers to access affordable credit while maintaining ownership of their vehicles. Yendo offers one of the lowest-cost credit cards on the market by using vehicle equity as collateral, targeting customers who prefer to retain ownership of their assets while obtaining credit.
Yendo has grown rapidly since its inception and is recognized as a leader in combining consumer lending with vehicle-equity-based collateral strategies.
History
Yendo was founded in 2021 with the goal of creating innovative credit solutions for sub-prime consumers. In May 2024, the company raised $165 million in new capital—$150 million in debt financing and $15 million in equity—to support its growth and product expansion efforts.[1][2] The funding round was led by notable investors and is aimed at scaling Yendo’s consumer credit offerings and expanding into new markets.
Initially focused on vehicle-backed credit services, Yendo has expanded its reach with the introduction of its vehicle-equity-secured credit card.[3]
Products
Yendo’s core product is the vehicle-equity-secured credit card, which provides users with access to low-interest credit by leveraging the equity in their vehicles as collateral. The card is designed for consumers seeking credit solutions without having to sell or lose possession of their vehicles. This product offers significantly lower interest rates compared to traditional unsecured credit cards and loans.
Vehicle-Equity-Secured Credit Card: Yendo's flagship product allows consumers to use their vehicle's equity as collateral, providing access to affordable credit without giving up their vehicles. This product is ideal for individuals seeking to maintain ownership while obtaining credit at lower rates.[4]
Leadership
Yendo is led by CEO Jordan Miller, who was named one of Dallas's most powerful business leaders by *D Magazine*'s *Dallas 500*.[5] Miller’s leadership has been instrumental in Yendo’s expansion and innovative product development, particularly in the field of secured credit solutions.
References
- ^ "Fintech Yendo Has Raised $150 Million in Debt and $15 Million in Equity". Retrieved 28 October 2024.
- ^ "Fintech Company Yendo Raises $165 Million in New Capital to Fuel Growth". Retrieved 28 October 2024.
- ^ "Yendo Secures $165 Million to Expand Vehicle-Backed Credit Services". Retrieved 28 October 2024.
- ^ "Yendo Is Revolutionizing Lending with a Vehicle Equity-Secured Credit Card". Retrieved 28 October 2024.
- ^ "D Magazine's D CEO Names Yendo CEO Jordan Miller Among Dallas 500 Most Powerful Business Leaders". Retrieved 28 October 2024.