Kindred Raises $15 Million for Home Swapping Vacation Platform

25.08.2023 - 13:47 / skift.com / Justin Dawes

Seven startups involved in the travel industry have raised nearly $124 million this week.

>>Yonder, a UK credit card startup geared toward travelers, has raised $15.6 million (£12.5 million) in venture capital and $62.2 million (£50 million) in debt for its series A funding round.

It was co-led by Northzone and RTP Global, with support from angel investors Joseph Moore of Crust Bros and Kunal Shah of Cred.

The company said it is now valued at more than $87.2 million (£70 million). The company is soon launching a crowdfunding campaign. 

Yonder offers rewards and special features for customers who use its card for travel, dining, and ticketed events. Those rewards are only for services based in London right now. But the company plans to expand to a second, unnamed UK city this year. 

The company is using the equity toward growing operations and hiring for marketing, operations, engineering, and product roles. The debt will go toward funding the credit lines to support customer growth.

Users generally get one point for every £1 spent, or up to five points for each £1 when using the card to purchase services from one of the company’s partners across London. The company curates a list of up to 10 dining and ticketed event experiences each month that can earn users large amounts of extra points. 

The company is looking at adding more eligible purchases to its reward program, like theater tickets, wellbeing, and vacation rentals.

The card also offers family travel insurance for medical needs, trip cancellations, car rental damages, winter sports gear damages, and more. The company does not charge fees for using the card abroad. 

The card has a monthly fee of £15. According to the website, users who sign up can get the first month free and a £50 dining credit. 

The variable representative annual percentage rate — which includes the monthly fee and the interest rate of purchases — is listed on the website as 64 percent. At least 51 percent of those accepted for the credit card will get that rate. The variable interest rate for purchases is listed as 27.71 percent.

>>Kindred, a members-only platform for home swapping, has raised $15 million in series A funding. 

The round was led by New Enterprise Associates, with participation from Andreessen Horowitz, Caffeinated Capital, Bessemer Venture Partners, and Outset Capital, as well as individual investors Evan Moore and Dylan Field.

The San Francisco-based platform allows member homeowners to spend a short stay in other members’ homes. It’s the same concept as a vacation rental, except the company said there are no rental fees when swapping. With a cleaning fee and a maximum service fee of $25 per night, the guest could stay in a house for a week and pay only a