Fintech Innovator Secures $50 Million for Expansion into Digital Banking
Dallas, October 10, 2025 — Yendo, the creator of the first vehicle-secured credit card, has successfully raised $50 million in a Series B funding round. Investors in this round include Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures. This financial boost aims to help Yendo expand from its collateralized lending model to create an AI-powered digital bank tailored for millions of Americans who are often overlooked by conventional banks.
Part of this funding includes the appointment of Logan Green, co-founder of Lyft, and Nick Huber, founder of Spice Expeditions, to Yendo’s board of directors.
Yendo’s asset-backed credit card is designed to assist underserved Americans by unlocking about $4 trillion in assets tied to cars and homes. This unique approach offers credit products generally available only to those with excellent credit. I think this is a compelling model—it could offer new options for people who have struggled to access traditional banking services. Yendo is planning several launches in the fourth quarter of 2025, aligning with its vision of creating a more inclusive digital banking experience.
“Our mission is to transform consumer finance,” stated Jordan Miller, CEO and co-founder of Yendo. “Our patented AI technology proves that it is possible to release capital from assets safely and affordably, significantly lowering costs in the process. This helps underserved consumers gain access to some of the most powerful credit products available. Our platform is already making strides for millions of people, enhancing financial equity for those, particularly older Americans.”
Yendo’s innovative AI automates processes like underwriting, asset verification, and lien filing in mere seconds—a stark contrast to the weeks and high costs associated with traditional lenders. This efficiency can cut origination costs by as much as 95%, making it feasible for banks to cater to often-ignored borrowers. Furthermore, Yendo’s technology establishes a robust digital identity, which helps protect against the growing threat of AI-driven fraud. As a result, customers benefit from competitive rates and credit limits that can be up to eight times higher than those typically offered.
The issue at hand is pressing. Statistics show that one in three Americans face challenges in accessing meaningful credit and struggle to obtain basic banking products. By tapping into the over $4 trillion worth of untapped assets held by non-prime consumers, Yendo is rethinking consumer finance for this large, underserved population. So far, the company claims to have saved customers more than $200 million in fees and interest, all while maintaining consistent, double-digit growth each month.
