The company has secured $15 million in equity capital from unidentified strategic investors in addition to $150 million in debt financing headed by the New York-based investment firm i80 Group.

Yendo, a Dallas, Texas-based company that was founded in 2022, gives underprivileged people access to the equity in their automobiles rather than depending only on their credit ratings. This allows people to get up to $10,000 in revolving credit at interest rates that are similar to those of unsecured super-prime credit cards.

With the additional funding, Yendo intends to launch new goods, spur client development, and quicken the rollout of its services in all 50 US states.

The money, according to Yendo CEO and founder Jordan Miller, will support the company's "aggressive roadmap for 2024," allowing it to "expand access to affordable credit to more Americans in more geographies."

Earlier this year, i80 Group made an international investment in ID Finance, a company established in Barcelona. The company gave the Spanish fintech $150 million in debt funding, which allowed it to build its main financial wellbeing app, Plazo, more quickly.