Yonder, a fintech startup targeting Millennials and Gen Z, has raised £23.4 million in new funding.
- The funding aims to boost Yonder’s travel and city exploration rewards offerings.
- Yonder plans to use the funds for expanding travel-related features like Flights and Stays.
- The investment signals confidence in Yonder’s growth potential within the credit card market.
- Yonder’s valuation has now surpassed £100 million following this funding round.
Yonder, a fintech firm focused on providing rewards for Millennials and Gen Z, has successfully raised £23.4 million. This strategic investment arrives on the heels of their previous £12.5 million Series A funding round and an additional £50 million secured through debt financing.
The newly acquired capital is earmarked for enhancing Yonder’s travel benefits and city exploration services. With Millennials and Gen Z making substantial travel-related purchases, Yonder aims to capitalise on this trend by introducing features such as Flights and Stays, allowing customers to redeem points on flights and hotel accommodations.
Co-founder and CEO Tim Chong expressed Yonder’s vision of becoming a comprehensive platform for users, facilitating travel bookings, hotel recommendations, and restaurant reservations through a single app interface. He emphasised the achievement of securing such significant funding in the current economic climate.
This funding round was led by venture capital firm Repeat, which has a history of investing in billion-pound fintech companies at their early stages. Dan Jones, founder and managing partner of Repeat, highlighted Yonder’s innovative approach in targeting Millennials and Gen Z, a demographic largely ignored by traditional credit card products.
With this funding, Yonder’s post-money valuation has exceeded £100 million, indicating the company’s robust market positioning and future growth potential.
Yonder’s latest funding round underscores its potential to redefine rewards offerings for younger demographics within the fintech industry.
