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Yoco

Yoco

Yoco is a company founded by Lungisa Matshoba, Katlego Maphai, Bradley Wattrus and Carl Wazen.

Yoco is a South African fintech company and a payments and Point of Sale provider based in Cape Town, South Africa.

History

Yoco was founded in 2015 by Katlego Maphai (CEO), Carl Wazen, Bradley Wattrus and Lungisa Matshoba, with the aim of enabling small businesses to securely accept card payments.

The company has raised $23 million from a range of international and local investors.

The company is processing about $280 million in annualized payment volume for around 30,000 businesses, and has around 110 staff members and in the next two years the company plans to add another 50 staff members.

History

Yoco was founded in 2015 by Katlego Maphai (CEO), Carl Wazen, Bradley Wattrus and Lungisa Matshoba, with the aim of enabling small businesses to securely accept card payments.

The company has raised US$23-million from a range of international and local investors.

Yoco is considered as South Africa’s largest and fastest growing independent card payments provider by number of merchants.

Timeline

July 27, 2021
Yoco raises a $83,000,000 series C round from 4DX Ventures, Breyer Capital, Dragoneer Investment Group, HOF Capital, Orange Ventures, Partech Ventures, Quona Capital, Raba Partnership, TO Ventures Food and Velocity Capital Fintech Ventures.
September 2018
Yoco raises a $16,000,000 series B round from Accion Frontier Inclusion Fund, L.P., FMO, Orange Digital Ventures and Partech Ventures.

Funding Rounds

Patents

Further Resources

Title
Author
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Type
Date

News

Title
Author
Date
Publisher
Description
Tage Kene-Okafor
July 27, 2021
TechCrunch
Despite South Africa's high card and mobile penetration rates of over 70%, the country's SMEs still struggle to accept cards. Yoco's portable card machines proved masterful in solving this problem.

References

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