the other side The company has raised £23.4 million (about $31.1 million) to expand its credit card, designed to help cardholders develop good credit habits while earning points.
In an announcement on Thursday (September 19), Yonder said the London-based company will use the new funding to grow its team, introduce new compensation structures and accelerate expansion outside the UK. post On LinkedIn.
“The next few years will be busy,” Yonder said in the post. “Building a world-class credit card business isn't easy, but we love to stay busy, so we're enhancing ways to get the most out of your points, adding new partnerships with some of the world's most iconic brands, and building more intuitive features to help you use your credit card responsibly.”
“And that's not even half way there,” the company added. “With this new funding we plan to take Yonder on the road and launch it outside the UK by the end of next year.”
According to the article, in the last year Yonder has added a free membership tier, hundreds of new partners across the UK, product improvements and a feature called “Yonder Flights” that allows cardholders to use their points “on any flight on any airline around the world”.
RTP GlobalThe company, which co-led Yonder's funding round, announced on Thursday post LinkedIn said it is excited to support the company as it prepares for European expansion and continued innovation.
“Yonder is shaking up the credit card industry with a focus on rewards and experiences that truly resonate with customers,” RTP Global said in a post. “From curated partnerships with local businesses to exciting collaborations with airlines, Yonder is building a unique financial lifestyle platform that goes beyond traditional credit.”
The Yonder Credit Card, powered by Mastercard, aims to solve the challenge of getting the most out of your credit card rewards and figuring out the most effective way to spend the points you've accumulated over time. Tim Chung“We're looking to expand our reach to more than 100,000 businesses,” the Yonder co-founder and CEO said in a PYMNTS interview published in May 2023.
Chong said the company's points program allows customers to access value through an instant and seamless redemption process.
“[That means] “There's no clunky website portal, just pair your card, swipe the app, and your dinner is all on Yonder,” Chong says.
