Yendo has received a significant USD 200 million funding commitment from i80 Group to expand its AI-driven, asset-backed credit card offerings across the United States.
Following this announcement, the US-based fintech company Yendo disclosed a USD 200 million warehouse facility from i80 Group. The funds will be used for new credit card originations as the business aims to increase its asset-backed lending products among consumers nationwide.
This commitment comes after Yendo’s previous Series B funding of USD 50 million and is intended to expedite the growth of their full range of credit cards, including their vehicle-secured card.
Core AI Infrastructure
According to official press releases, Yendo’s business model hinges on proprietary, patent-pending AI infrastructure that automates the verification, evaluation, and securing of consumer assets—primarily vehicles but also homes. Where traditional lenders traditionally rely on manual processes that can take weeks, Yendo’s platform seeks to complete these steps within minutes, substantially reducing origination costs.
While traditional lenders originate over USD 70 billion in asset-backed consumer loans annually, with most relying on legacy operational models, Yendo positions its technology as a direct alternative. This allows for higher credit limits and improved rates compared to standard unsecured credit card products.
The cost savings from the automated origination process are passed directly to consumers through lower interest rates and fees.
Market Context and Strategic Significance
Yendo’s vehicle-secured credit card is part of a broader asset-backed consumer lending market that has historically been slow to adopt technology-driven origination. By automating lien placement and asset verification, Yendo aims to reduce the cost of security interests significantly—enabling it to serve consumers who might otherwise have been excluded from conventional products due to stringent eligibility criteria.
The timing of this i80 Group commitment is noteworthy given the current market conditions. Private credit activity has remained sluggish in 2024 and into 2025, making new warehouse facility agreements less frequent. The transaction reflects continued institutional interest in credit models that combine asset security with technology-driven underwriting, even as broader private debt markets face challenges.
An i80 Group official highlighted the asset-backed structure as a key factor in their decision, alongside what they described as demonstrated credit discipline and a clear focus on an underserved market segment.
Yendo’s approach aligns with a broader trend in fintech towards leveraging automation to enter secured lending categories that have traditionally been dominated by banks and traditional consumer finance companies—segments where pricing has often not reflected borrowers’ actual risk profiles effectively.
