Fintech Yendo is looking to triple application volume for its vehicle-secured credit card in 2026 after securing $200 million in recent funding from asset-backed finance investment firm i80 Group. 

Originations and revenue are expected to triple this year at the Dallas-based startup, which launched in 2021 and added auto refinance in May 2024. Yendo provides credit cards with borrowing limits derived from the value of a consumer’s vehicle, using its own AI solution to streamline approvals. 

“The new $200 million commitment allows us to keep growing the credit card products,” Chief Executive Jordan Miller told FinAi News’ sister publication Auto Finance News. “It covers the auto equity card, which is the majority [and] our flagship product, but also a suite of new credit card products that we’ll have coming soon.” 

Demand has been so strong that Yendo needs additional resources to support it, Miller said. The fintech’s refinance applications volume reached an estimated $450 million per month in October 2025, he said, but did not provide specific dollar amounts for originations or revenue. Application volume has not increased significantly since October, and funded originations represent a portion of that volume.  

“The amount that we’re able to originate and take from that [applications] pool is growing rapidly, and we expect that to triple this year,” he said. 

Behind the technology

Yendo’s AI solution decreases the cost of originations by reducing the costs typically associated with credit approvals such as manual filing of paperwork by employees, Miller said.  

“Where AI really comes in for us is entirely on the asset verification [process] and understanding everything about [the borrower’s] car,” he said.  

AI is used to determine the condition of a consumer’s vehicle, confirm vehicle ownership and if there are liens, he added, noting that it reduces approval time to about five minutes. 

“We build a large pool of data that we think is useful: movement data, maintenance, data, insurance data, camera data,” he said. “That allows us to create a model for an agentic AI system to go through.”  

One use case Miller detailed involves a loan request for a vehicle with no maintenance data, which might prompt a request for pictures to verify the car’s condition.  

Other verification metrics Yendo’s AI system uses include matching state standard font sizes used for vehicle titles at different times, to gauge how recently the submitted title was issued.  

‘Beyond early stage’ 

The fintech’s latest funding round will help scale customer service and product offerings, Miller said.  

“We’re moving beyond early stage [of curiosity] and now we’re showing that this is working and performing well across different macro environments,” he said. “We’re starting to expand our customer base and the products we serve them with.”  

Other funding raised by Yendo, according to Crunchbase, includes: 

• $50 million in a series B equity round in October 2025; 

• $165 million in debt and equity financing in May 2024, including $150 million from i80; 

• $24 million in a series A round in February 2023; 

• $60 million in debt financing in April 2022; and  

• $8.5 million in seed financing in September 2021.  

Editor’s Note: This article first appeared on FinAi’s sister publication, Auto Finance News.

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