Yendo raises $50m to expand its AI credit platform

October 10, 2025

Yendo, a FinTech company behind the first-ever vehicle-secured credit card, has raised $50m in a Series B funding round to accelerate its expansion into digital banking.

The investment round saw participation from Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban, and Clocktower Technology Ventures, among others.

As part of the deal, Logan Green, co-founder of Lyft and venture partner at Autotech Ventures, and Nick Huber, founder of Spice Expeditions, will join Yendo’s board of directors.

Founded in 2021 by Jordan Miller, George Utkov, and Daniel Ashy, Yendo was created to provide accessible credit to Americans who have traditionally been excluded from the financial system due to poor or non-existent credit histories. The company’s platform allows users to access up to $10,000 in revolving credit, secured against their vehicle, within minutes using only a smartphone.

The new funding will be used to accelerate Yendo’s transition from a secured lending company into a fully-fledged AI-powered digital bank. The company plans to launch new products in late 2025 as part of its mission to build an inclusive financial ecosystem for the underserved majority.

Yendo’s technology uses proprietary AI to automate critical processes such as underwriting, asset verification, and lien filings — tasks that typically take weeks and cost hundreds of dollars for traditional lenders. By streamlining these operations, Yendo reduces origination costs by up to 95%, enabling it to serve customers profitably while offering competitive rates and credit limits up to eight times higher than standard credit cards.

Yendo CEO and co-founder Jordan Miller said, “We’re on a mission to transform consumer finance.

“Our patented AI systems prove it’s possible to unlock trapped asset equity safely and affordably at scale. They cut onboarding and operating costs by orders of magnitude, opening up the most powerful credit products in the market to underserved consumers. This funding accelerates our vision of building the bank for the underserved majority, a platform that’s already saved people hundreds of millions while providing significantly higher credit access. We’re well on our way to creating equity of financial opportunity for over 65 million Americans.”