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Fintech Startup Raises $26m in Spherical Co-Led by Northzone

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  • Yonder, a fintech providing bank cards to expats and not using a credit score rating, simply raised $26 million.
  • The seed spherical was co-led by Hopin and Spotify-backer Northzone and Copper investor LocalGlobe.
  • Take a look at the 10-slide pitch deck Yonder used to lift the contemporary funds beneath:

Yonder, a fintech that desires to make bank cards extra accessible for expats, has raised $26 million in seed funding.

The London-based startup is focusing on prime “credit score invisible” shoppers who haven’t any credit score historical past within the UK. The corporate evaluates credit score suitability primarily based on a consumer’s transaction and


open banking

information, which it claimed is extra personalised for customers than conventional credit score checks.

Yonder, which was based by former staffers at credit score scoring startup Clearscore, will initially supply customers a bank card with rewards resembling meals at high-end eating places and tickets to gigs and occasions throughout London.

“Once I first arrived within the UK, it was so painful to restart my monetary life and not using a credit score rating – banks turned me away, I needed to get a pay as you go SIM card, and the rewards by no means made up for the time it took to fill out kinds to switch my Amex membership from Australia,” Tim Chong, Yonder CEO and cofounder, advised Insider.

“For too lengthy, bank cards have taken benefit of shoppers. Hidden charges, discriminatory credit score scoring, and rewards that belong within the Nineties, all within the curiosity of financial institution’s quarterly earnings.”

The seed funding spherical was co-led by Northzone and LocalGlobe, alongside Seedcamp and angel traders together with Beautystack founder Sharmadean Reid, Marshmallow founders Oliver and Alex Kent-Braham, and former soccer participant Rio Ferdinand.

Funding will go in the direction of new product options alongside rising the Yonder crew which at present stands at 11 workers. Equally, the corporate desires to transcend its preliminary market of London and look to new UK cities like Bristol, Manchester, and Birmingham.

“Proper now, a lot of the experiences which can be stay in Yonder’s app are ingesting and eating spots, however we have got rather more than that lined up,” Chong added. “We’re exploring partnerships with boutique health studios, festivals, main sports activities occasions, and immersive experiences.”

Yonder secured authorization from the Monetary Conduct Authority (FCA), the UK’s monetary regulator.

Take a look at the 10-slide pitch deck Yonder used to lift the contemporary funds beneath:

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