The financing will be used to fuel customer growth, introduce new products and expedite the expansion of the company's offerings across all 50 states. Specifically, Yendo will use the financing to fund the growth of originations on its platform, which will enable the company to extend credit to more Americans at affordable rates. In addition to the debt facility, Yendo has raised $15 million in equity from undisclosed strategic investors.

Founded in 2021 by Jordan Miller, George Utkov, and Daniel Ashy, Yendo is the first-ever vehicle-secured credit card created for the millions of Americans who have historically lacked access to the financial system because of their credit score, or lack thereof. All customers need to get started with Yendo is a smartphone and a car. In less than 10 minutes, consumers can get up to $10,000 in revolving credit at a fixed, affordable rate, agnostic of their credit score.