Financier NatWest Group invests a minority stake in Yonder
NatWest Invests in UK Fintech Startup Yonder
NatWest Group, one of the UK's leading banking providers, has made a strategic investment in Yonder, a credit card fintech company based in the UK. This partnership is aimed at supporting Yonder's growth and positioning as a challenger in the credit card market.
The investment was driven by NatWest's 'Innovation and Partnerships' team. Sandi Royden, head of retail banking customer propositions at NatWest, expressed her eagerness for collaboration with Yonder. She emphasized the importance of personalizing and deepening customer experiences for NatWest.
Yonder provides customer experiences through "lifestyle-led rewards". The company partners with local businesses and brands to offer personalised rewards to its users. Tim Chong, the founder and CEO of Yonder, expressed excitement about NatWest as an investor. He believes that the investment will help Yonder grow at speed and scale.
For NatWest, the benefit lies in fostering innovation by backing a fintech challenger, potentially gaining insights and influence in new credit card technologies and customer engagement strategies. Ladi Greenstreet, the head of strategic investments at NatWest Group, stated that the investment reflects NatWest's belief in delivering better lifestyle experiences with financial tools. He also expressed looking forward to exploring new ways to deliver rewarding and responsible financial interactions that align with customers' evolving needs.
In September 2024, Yonder secured £23.4 million in a funding round. The latest investment from NatWest will further strengthen Yonder's position in the UK credit card sector. The partnership brings mutual advantages: NatWest gains a foothold in fintech innovation through Yonder's challenger credit card efforts, and Yonder receives strategic support and funding to expand competitively in the UK credit card sector.
Yonder's credit card platform targets young professionals and expats. Sandi Royden stated that collaboration with Yonder would bring Yonder's customer experience, engagement, and reward insights to a wider audience. With the support of NatWest, Yonder is poised to make a significant impact in the UK credit card market.
[1] The NatWest Accelerator: https://www.natwest.com/business/start-up/the-natwest-accelerator [3] Yonder's Credit Card Platform: https://yonder.money/
- The strategic investment by NatWest Group in Yonder, a UK-based fintech startup that specializes in credit card services, is intended to bolster its growth and challenge the status quo in the credit card market.
- Yonder's unique approach to customer experiences through "lifestyle-led rewards," which includes partnerships with local businesses and brands, is one reason that caught the attention of NatWest's Innovation and Partnerships team.
- For NatWest, this investment serves as a means to foster innovations within the fintech sector, potentially gaining insights and influence in new credit card technologies and customer engagement strategies.
- Tim Chong, founder and CEO of Yonder, is excited about having NatWest as an investor, believing the investment will propel Yonder to grow at a faster pace.
- The collaboration between NatWest and Yonder is anticipated to deliver better lifestyle experiences with financial tools, aligning with customers' evolving needs and preferences.
- This partnership between NatWest and Yonder is mutually beneficial, as it gives NatWest a foothold in fintech innovation and provides Yonder with strategic support and funding to compete effectively in the UK credit card sector.
