Yendo Raises $50 Million Series B Led by Spice Expeditions and Autotech Ventures to Expand AI-Powered Vehicle-Backed Credit Platform

Yendo, the Dallas-based fintech startup offering what it calls the first vehicle-secured credit card for underserved consumers, has announced a major funding milestone that underscores its ambition to build a broader AI-powered digital bank for Americans often excluded from mainstream credit. The company raised US $50 million in a Series B financing round in October 2025, with a prominent investor lineup including Spice Expeditions, Autotech Ventures, FPV Ventures, Pelion Venture Partners, Mark Cuban and Clocktower Technology Ventures.

The raise comes on the heels of a prior capital infusion established in May 2024, when Yendo secured US $165 million in combined debt and equity financing—comprised of US $150 million in debt led by i80 Group and US $15 million in equity from strategic investors. In that year, the company also noted it had previously closed its Series A (US $24 million) led by FPV Ventures. The cumulative financing activity reflects Yendo’s rapid growth and its strategic focus on leveraging vehicle equity to provide credit to consumers who have been traditionally overlooked.

Yendo’s flagship product allows users to obtain up to US $10,000 in revolving credit using their car as collateral—regardless of their credit score. The vehicle-secured card is targeted at Americans who have been underserved by conventional lenders, enabling access to rates and terms typically reserved for super-prime borrowers. As the company scales, it is applying proprietary AI systems to automate underwriting, asset verification and lien filings—reducing onboarding and origination costs by up to 95 %. Yendo reports it has saved customers tens of millions of dollars in interest and fee savings compared with alt-lending options, and by mid-2025 it claimed to have saved customers over US $200 million in interest and fees.

With the Series B funds in hand, Yendo plans to expand beyond its secured-card offering into a full-on digital banking platform aimed at the underserved “majority” of consumers. The company says it is preparing a slate of new product launches in Q4 2025 and intends to unlock across vehicles and homes an estimated US $4 trillion of “trapped” consumer equity. By leveraging its AI infrastructure and its vehicle-based credit model, Yendo seeks to establish new credit-access flows at scale, deepening financial inclusion for the 65 million or more Americans with limited traditional credit access.

Yendo’s investment story signals strong market excitement around “asset-backed credit” models and fintechs that re-engineer underwriting via technology rather than manual processes. Investors including Mark Cuban pointed to Yendo’s ability to address a large underserved market by offering accessible, collateral-based credit that bridges a gap between zero-credit consumers and super-prime borrowers. Autotech Ventures and Spice Expeditions added board leadership to the company: Logan Green, co-founder of Lyft and venture partner at Autotech Ventures, and Nick Huber, founder of Spice Expeditions, joined Yendo’s board as part of the Series B raise.

Despite the strong momentum, Yendo faces significant operational and regulatory challenges. Converting a secured-credit model into a full digital bank requires navigating banking charters, deposit-taking regulations, consumer-finance compliance and operational scaling across all 50 U.S. states. The company must also deliver on its claims of cost reduction and underwriting accuracy in a segment where asset-based lending often carries higher risk. Switching consumer behavior, building brand trust, and managing costs will be central as Yendo expands beyond vehicle collateral and broadens its product suite.

Yendo’s growth metrics suggest that it has moved quickly: from a Series A raise in mid-2023 through to a large debt-plus-equity raise in 2024 and a major Series B in 2025, the company has tracked sizeable expansion in product reach, state presence (40 states in 2024, with plans for all 50) and consumer savings. Its roadmap includes scaling AI systems, entering new asset classes beyond vehicles, and converting the card business into a broader bank‐like offering. Investors appear confident that Yendo’s model of “unlocking asset equity for underserved credit access” can disrupt traditional consumer-finance pathways.

Yendo’s US $50 million Series B funding round, backed by a high-profile investor syndicate and preceded by a US $165 million debt and equity facility, marks a key inflection point in the company’s transformation from a niche secured-card provider to an AI-driven inclusive banking platform targeting the credit-underserved majority.