Credit card for expats Yonder secures £20 million startup capital


Yonder, a London-based credit card startup catering to expats in the UK, has opened a waitlist for prospective customers after emerging from stealth with a £20 million equity raise.

Founded by three Cleasrscore alumni, Yonder aims to tackle the problems expats face when applying for a credit card in the UK.

CEO Tim Chong first encountered the issue soon after he moved to the UK from Australia. Although his career was off to a great start and he had a solid credit history back home, the best he could qualify for was a card with a ‘child-safe’ credit limit and hefty fees.

Yonder’s first aim is to solve the problem of access to credit cards for expats and anyone with a thin credit file, with a super efficient sign-up process and credit suitability evaluation based on transaction history from daily spending habits.

“For too long, credit cards have taken advantage of consumers. Hidden fees, discriminatory credit scoring, and rewards that belong in the 1990s, all in the interest of bank’s quarterly earnings,” says Chong. “We’re challenging the status quo with a beautiful card that helps our members to discover the best of their city, and a promise to put the customer first.”

The firm is planning to differentiate itself by offering meaningful loyalty points that can be spent on exclusive drinking, dining and leisure experiences with partners including The Gladwin Brothers and Kricket restaurants, plus the ability to spend abroad with zero FX fees.

The £20 million funding round was co-led by Northzone and LocalGlobe, with Seedcamp participating alongside a host of angels, including Sharmadean Reid, Marshmallow founders Oliver and Alex Kent-Braham, and ex-England international footballer Rio Ferdinand. It follows a pre-seed round of £850k in February 2021 led by Seedcamp and LocalGlobe, bringing total funding to £20.85M.


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