Yoco is a technology company.
Yoco has raised $104.0M across 4 funding rounds.
Key people at Yoco.
Yoco has raised $104.0M in total across 4 funding rounds.
Yoco is a South African technology company that builds mobile-driven payment solutions primarily for small and medium-sized businesses (SMBs). Its core product offering includes affordable, user-friendly point-of-sale (POS) hardware and software that enable merchants to accept card payments both in-person and online. Yoco also provides a digital dashboard app for merchants to track sales, manage inventory, and gain business insights, alongside financial products like working capital advances. Serving over 200,000 small businesses, Yoco addresses the critical problem of limited access to electronic payment systems in South Africa, empowering entrepreneurs to grow by simplifying payment acceptance and business management[1][2][3][4][6].
Founded in 2013 by four friends—Katlego Maphai, Bradley Wattrus, Lungisa Matshoba, and Carl Wazen—Yoco emerged from their shared recognition of the challenges small South African merchants faced in accepting card payments. The founders combined their diverse backgrounds and experiences to create an affordable, easy-to-use payment solution tailored to the needs of small businesses. After launching in late 2015, Yoco quickly gained traction, surpassing 10,000 customers by 2017 and processing over $1 billion in card payments by 2019. Key milestones include the launch of a POS application and working capital product in 2017 and the introduction of the Yoco Khumo card machine with 4G connectivity in 2021[2][4].
Yoco rides the global fintech trend of democratizing financial services through technology, specifically targeting the "acceptance gap" in South Africa where many consumers have cards or mobile wallets but few merchants accept them. This timing is critical as digital payments become essential for economic participation and growth. By enabling small businesses to accept electronic payments easily, Yoco supports financial inclusion, operational efficiency, and transparency in commerce. Its growth also reflects broader market forces such as increasing smartphone penetration, demand for cashless transactions, and the rise of informal and micro-enterprises in emerging markets[1][3][5].
Yoco is poised to continue expanding its footprint across South Africa and potentially into other African markets, leveraging its strong brand, comprehensive product suite, and investor backing (over $100 million raised). Future trends shaping its journey include the ongoing digitization of commerce, increased adoption of online and mobile payments, and growing demand for integrated business management tools among SMBs. Yoco’s influence is likely to evolve from a payment enabler to a broader digital commerce platform and financial services provider, further empowering entrepreneurs and contributing to economic growth and inclusion across the continent[2][4][6].
Key people at Yoco.
Yoco has raised $104.0M in total across 4 funding rounds.
Yoco's investors include Accel, CapitalG, Credo Ventures, Dragoneer Investment Group, Earlybird Venture Capital, Meritech Capital Partners, Partech Ventures, Quiet Capital, Quona Capital, Sequoia Capital, Wellington Management, Y Combinator.
Yoco has raised $104.0M across 4 funding rounds. Most recently, it raised $83.0M Series C in July 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2021 | $83.0M Series C | Accel, CapitalG, Credo Ventures, Dragoneer Investment Group, Earlybird Venture Capital, Meritech Capital Partners, Partech Ventures, Quiet Capital, Quona Capital, Sequoia Capital, Wellington Management, Y Combinator, Eric Nadalin | |
| Sep 1, 2018 | $16.0M Series B | Partech Ventures, Quona Capital, Y Combinator, Eric Nadalin | |
| Feb 1, 2017 | $3.0M Series A | Quona Capital | |
| Jun 1, 2014 | $2.0M Seed | Dragoneer Investment Group, Leste Group, Partech Ventures, Quona Capital, Robby Hilkowitz |
