Yendo, the company behind a vehicle-secured credit card, this week announced a $50 million Series B funding round. It includes investors Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures.
The funding will accelerate Yendo’s expansion beyond secured lending as it builds an AI-powered digital bank for the millions of Americans underserved by traditional financial institutions. As part of the raise, Logan Green, co-founder of Lyft and venture partner at Autotech Ventures, and Spice Expeditions founder Nick Huber will join Yendo’s board of directors.
By unlocking $4 trillion of trapped equity from cars and homes, Yendo provides access to credit products typically reserved for super-prime customers. Building on this momentum, the company is preparing a wave of launches in Q4 2025 – moving Yendo closer to its vision of building an inclusive digital bank for those long ignored by traditional lenders.
“We’re on a mission to transform consumer finance,” said Jordan Miller, CEO and co-founder of Yendo. “Our patented AI systems prove it’s possible to unlock trapped asset equity safely and affordably at scale. They cut onboarding and operating costs by orders of magnitude, opening up the most powerful credit products in the market to underserved consumers.
“This funding accelerates our vision of building the bank for the underserved majority, a platform that’s already saved people hundreds of millions while providing significantly higher credit access. We’re well on our way to creating equity of financial opportunity for over 65 million Americans.”
Powered by proprietary AI, Yendo automates underwriting, asset verification, and lien filings in seconds – processes that typically take legacy lenders weeks and cost hundreds of dollars. Yendo’s system slashes origination costs by up to 95%, making it possible to profitably serve borrowers that banks often overlook.
The same technology also generates robust digital identities, strengthening defences against the rise of AI-powered fraud. Through these innovations, customers gain access to industry-leading rates, rewards, and credit limits up to eight times higher than traditional offerings.