The fintech startup Yonder has successfully secured £23.4m in funding to expand its offerings.
- Yonder aims to enhance its travel benefits and city exploration features targeting Millennials and Gen Z.
- The investment follows a previous £12.5m Series A round and £50m in debt financing.
- Yonder plans to introduce ‘Flights and Stays’ to optimize members’ travel spending.
- The latest funding elevates Yonder’s valuation to over £100m, backed by notable investors.
Yonder, a fintech startup focused on Millennial and Gen Z audiences, has raised £23.4m to bolster its rewards program. This funding is intended to expand travel benefits and city exploration offerings, meeting the demands of its young user base. The announcement comes on the heels of Yonder’s successful £12.5m Series A funding round, supplemented by £50m in debt financing last year.
The startup’s strategic move aims to capitalize on the substantial portion of its users’ spending directed toward travel. Founder and CEO Tim Chong explained that the new ‘Flights and Stays’ initiative will allow customers to use reward points for airfare and hotel bookings. Chong envisions Yonder as an end-to-end travel and lifestyle platform where users can access travel options, hotel recommendations, and restaurant bookings, all within its app.
The investment round was led by Repeat, formerly known as Jigsaw, along with support from Lattiude, the sister fund of LocalGlobe. These investors align with Yonder’s vision of providing a unique credit card product tailored specifically for Millennials and Gen Z, a segment often overlooked by traditional financial products. According to Dan Jones, founder and managing partner at Repeat, Yonder’s offering emphasizes frictionless user experience and superior service delivery.
With the new capital, Yonder’s post-money valuation has surged past £100m. This accomplishment underscores the growing interest in fintech solutions that cater specifically to younger demographics keen on travel and lifestyle benefits.
Yonder’s latest investment not only amplifies its market presence but also strengthens its position as a key player in fintech solutions for younger users.
