Hey everyone! We have some amazing news to share with you today. Yonder has just raised a £62.5M Series A. In non-investor terms, it means we’ve raised money we can now invest back into growing and improving Yonder. Around £12.5M of the money is what we’ll use to help grow the team and operations at Yonder, and the other £50M will go towards servicing the credit lines to support our customer growth.
This is a huge milestone for us and we are thrilled to share this moment with you all.
So, what does this mean for you?
Fundraising news is often quite pointless for customers. So here’s how this might impact you.
First things first, we’re going to grow our team. While that may not impact you directly, it means we ship more product updates, bring on even better rewards and deliver on our mission faster. One of our operating principles at Yonder has been to deliver the most amount of value with the smallest team possible. We do this because it helps us move quicker, innovate faster and it protects us from having to do redundancies when there’s a slow down in the economy. Until recently, Yonder was just 17 people, each person was almost entirely responsible for one part of our business. As we grow, we’re going to need more hands on deck to continue to change the credit industry for the better. So we’re hiring in marketing, operations, engineering and product right now!
Secondly, we want to use some of this capital to help get Yonder into the hands of more people. That means expanding Yonder outside of London into another UK city before the end of the year. We’re still thinking through which city is the right place for us to go next, so let us know if you have any strong favourites you think we should consider. We’ll be investing more in marketing so we grow our customer base in London too. So keep an eye out for Yonder on buses, trains and tube stations (we’re live right now!).
Finally, and most importantly, we’re investing in expanding our rewards offering to deliver more rewards value to you than ever. We’ve just introduced a brand new feature called Send Points, that lets you seamlessly send Yonder points to your friends so you can go to an Experience together. We’re exploring adding in new types of Experiences like theatre tickets, wellbeing and short stays in cabins and hotels.
Our goal is to make you as excited to share Yonder as Will is with his own mother.
But wait, there's more!
Our early stage customers have been vital in helping us so far, so we’re excited to announce that we'll also be launching a crowdfund campaign for our supporters to participate in our round. This is a fantastic opportunity for you to get involved in our journey and help us shape the future of Yonder. We only have a limited allocation, and we’ve had high-demand already for a crowdfund, so you’ll need to pre-register here: https://yndr.co/3UH8q03
While crowdfunding can be exciting, it is also quite risky. So please only invest what you can afford to lose.
Stay tuned for more updates on our crowdfund campaign and thank you for being a part of the Yonder community!