Yonder Breaks the Credit Barrier for Immigrants in the U.K.

When Tim Chong moved to the United Kingdom, he had a full-time job, stable finances and a history of responsible credit use in his home country. But when he applied for a credit card in London, he hit a wall. Lenders saw a blank file. The system treated him as if he didn’t exist.

Tim, who previously worked in venture capital and product roles, was frustrated but not surprised. Immigrants around the world face the same problem, landing in a new country only to discover that the financial system doesn’t recognize their past. Instead of getting to build their lives, they’re forced to start from zero.

That experience sparked the idea for Yonder, a credit card designed for newcomers who want to be seen for who they are, not who a credit bureau thinks they are.

Co-founded by Tim along with colleagues Harry Jowett and Theso Tihabo, Yonder launched in 2022 with a mission to rethink how credit should work in a more global and mobile world. The company doesn’t rely on U.K. credit scores to evaluate applicants. Instead, it analyzes open banking data and international financial behavior to build a clearer picture of someone’s financial reliability.

That shift isn’t just technical. It reflects a deliberate stance.

“We wanted to challenge the idea that someone without a U.K. credit file is ‘risky,’” Tim said. “The reality is, people arrive in London with good jobs, strong savings, and years of financial experience, but they’re locked out of basic services. We’re changing that.”

A More Human Credit Model

Yonder’s underwriting approach pulls directly from applicants’ bank accounts, reviewing income, rent payments and spending behavior to determine eligibility. This open banking model allows Yonder to offer credit without the rigid gatekeeping used by traditional lenders.

This model has helped it attract a growing base of customers, many of whom are new to the U.K. and looking for a financial product that reflects their reality.

“We weren’t building for a stereotype. We were building for people who live full lives but happen to be new to the U.K.,” Tim said.

Yonder is also subscription-based, charging a flat monthly fee instead of confusing interest structures or hidden charges. In return, members get access to a flexible credit limit, interest-free payments when repaid on time, and curated rewards focused on local experiences.

The rewards program is perhaps what makes Yonder stand out even more. Instead of points toward air miles or gift cards, the company partners with local restaurants, cultural venues and independent shops across London. It offers credit that feels connected to real life.

According to Tim, this wasn’t an afterthought.

“People move countries for new experiences. Why shouldn’t your credit card help you discover the best of where you live?” he said.

Beyond the Numbers

Credit has often been reduced to numbers and risk categories. Yonder’s approach recognizes people’s lives as more complex. A person who never took on debt may not have a high credit score, but that doesn't mean they’re irresponsible.

The company’s early team brought experience from ClearScore, Monzo and other consumer-facing fintech brands. That background helped them understand both the operational complexities and the emotional stakes of building financial tools that people trust.

From day one, Yonder focused on the user experience. It eliminated jargon from its application process. It built an app that emphasizes transparency. It even designed its physical card with simplicity in mind, avoiding garish branding in favor of subtle, premium design.

“People are used to banks over-promising and under-delivering,” Tim said. “We knew that if we were going to do this, it had to feel honest, clear and useful.”

Backed by Investors and Users Alike

In its first year, Yonder attracted strong interest from venture capital firms, raising millions in seed and Series A funding from the likes of Northzone and Seedcamp. The funding has helped it scale its operations and double down on product development.

But Tim is quick to point out that success isn’t just about fundraising.

“What matters to us is whether our members feel like they’re finally being treated like adults,” he said.

Customer reviews often highlight the sense of dignity Yonder provides. One user wrote that it was “the first time I’ve felt like a financial product was built for someone like me.”

That kind of feedback reflects the heart of Yonder’s proposition. It isn’t trying to gamify credit. It’s trying to restore a sense of normalcy for people whose lives have already gone through massive change.

Expanding Access One Step at a Time

While the company is still early in its journey, Tim and his team have clear ambitions. They’re exploring how Yonder’s model could expand beyond London, and eventually beyond the U.K.

“Credit access shouldn’t be determined by a single country’s database,” Tim said. “We believe this idea works in any city where people move to build better lives.”

Still, the team isn’t rushing to go global. Growth, for Yonder, is not about scale for scale’s sake. Tim insists that each new product decision must hold up to the same question: Does this make the customer’s life easier?

“We’re proud of what we’ve built, but we’re not chasing headlines,” he said. “We want to build something that lasts.”

Built for the Long Haul

Yonder’s long-term vision centers on trust. The company hopes to evolve into a broader financial companion for people moving between countries, helping them rent homes, secure loans and build wealth without restarting their financial identity every time they move.

That goal requires more than software. It calls for a shift in how creditworthiness is defined.

“Banks often say they want to be relationship-based, but they treat people like numbers,” Tim said. “We’re trying to bring the relationship part back.”

For now, Yonder remains focused on its original promise: helping people new to the U.K. access credit without jumping through hoops. By stripping away unnecessary requirements and putting the user experience first, it is laying a foundation that feels more in line with how people actually live.

And while its name may suggest something distant or abstract, Yonder is rooted in something very present—the desire to be seen, to belong and to participate fully in a new home.

Tim Chong, Co-founder & CEO, Yonder

We weren’t building for a stereotype. We were building for people who live full lives but happen to be new to the U.K.