US fintech Yendo announced on October 10, 2025, that it has secured $50 million in a Series B funding round. This capital infusion is intended to expand its service proposition beyond secured lending, introducing a broader suite of digital banking services aimed at a segment the company refers to as “millions of Americans underserved by traditional financial institutions.”
This Series B funding round saw participation from investors including Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures. This latest investment follows a $15 million equity investment secured by Yendo in May 2024, alongside a $150 million debt financing facility led by i80 Group.
Yendo, which commenced operations in 2022, initially offered a credit card product that allows customers to leverage their vehicle as credit collateral. This service provides cardholders access to revolving credit lines of up to $10,000 without requiring an upfront cash deposit.
The company’s operational framework is supported by a proprietary AI model. Yendo states this model automates underwriting, asset verification, and lien filings in seconds. Additionally, the AI is credited with combating fraud, streamlining customer onboarding, and enabling the profitable servicing of borrowers often overlooked by established banks.
With the new funds, Yendo plans to accelerate its service expansion, with a “wave of launches” anticipated in Q4 2025. Jordan Miller, CEO and co-founder of Yendo, commented that the funding “accelerates our vision of building the bank for the underserved majority,” adding that the company is “well on our way to creating equity of financial opportunity.”
In a move that signals its strategic direction towards broader banking services, Yendo appointed Thibault Fulconis as chief financial officer in February this year. Fulconis brings over 35 years of banking experience, having previously been part of an executive leadership team that assisted Varo Bank in securing a national bank charter from the Office of the Comptroller of the Currency in 2020.
