Yonder secures £62.5m Series A funding co-led by Northzone and RTP Global to expand its credit card offering

Challenger credit card provider Yonder has secured £62.5m in a Series A financing round comprising £12.5m in equity and £50m in debt. The funding initiative was co-led by Northzone and RTP Global, with participation from several high-profile angel investors including Joseph Moore and Kunal Shah. The capital injection values the company at over £70m following the transaction.

The fresh funding will be deployed to support Yonder's expansion strategy. The company intends to double its headcount to 35 employees by the end of the year, extend its rewards ecosystem into new verticals such as sport and fitness, and roll out its services across additional UK cities.

Founded by ClearScore alumni Tim Chong, Harry Jell and Theso Jivajirajah, Yonder addresses difficulties faced by expats and young consumers in accessing credit by employing Open Banking for affordability checks. Alongside the institutional round, the firm has opened a crowdfunding campaign to allow members and the public to participate.