NatWest has taken a minority stake in UK-based rewards credit card startup Yonder, marking another move in its broader fintech investment strategy. Yonder, founded in 2022 by three former Clearscore executives, helps expats with little or no UK credit history access credit using open banking data rather than traditional credit scoring. The company also offers a range of lifestyle rewards, aimed at creating a more personalised and engaging user experience.
The investment will see NatWest collaborate with Yonder to bring new levels of personalisation, engagement, and rewards to its 19 million customers. The bank sees the move as part of a wider shift toward financial services that integrate seamlessly into everyday life.
“Our investment in Yonder reflects our belief in delivering better lifestyle experiences with financial tools that resonate with customers’ personal goals and aspirations,” said Ladi Greenstreet, head of strategic investments at NatWest.
Yonder recently raised £23.4 million in September, following a £12.5 million Series A in equity and £50 million in debt in April 2023. That funding enabled it to double its team, expand its rewards offering, and roll out curated experiences in cities beyond London, including Manchester, Birmingham, Bristol, and Bath.
Yonder CEO Tim Chong welcomed the partnership, stating:
“We’re thrilled to welcome NatWest as an investor… Together, we can redefine the future of consumer credit and deliver tailored financial services that meet the unique needs of our users.”
The deal was driven by NatWest’s Innovation and Partnerships team, which has also recently backed fintechs like Serene, an AI platform addressing financial vulnerability. The bank has confirmed it’s actively seeking further investments in fintech startups from seed to Series B that align with its digital ambitions.