A UK credit card rewards startup aimed at millennials and Gen Z consumers has stumbled upon a combined business model that has now secured it £12.5 million ($15.4m) in an equity round from investors.
Yonder is a credit card closest in operation to AMEX or Chase Sapphire in the US, however, it combines that credit card shopping model with a points-based rewards scheme to use at London venues such as cinemas, wine merchants, and eateries. In other words, it’s as if it was a combination of a travel experience startup and a credit card.
Indeed, cofounder Tim Chong, Yonder CEO told me: “One customer literally described us as a combination of Amex, meets …
