Yonder raises £62.5 million

UK-based credit card startup Yonder has closed a £62.5 million Series A round. The startup will use £12.5 million to invest in operations, while the other £50 million will go toward servicing the credit lines to support customer growth.

Launched in 2022, Yonder offers a “modern rewards credit card” that includes local rewards and worldwide travel insurance.

The insurance, which is offered by AXA, automatically kicks in when users book their travel with the Yonder card. Some of the coverages include trip cancellation, medical expenses, winters sports, and baggage delay.