With ambitious goals of empowering small and medium enterprises with creative offline and online payment solutions, Yoco stands out as a trailblazer in the South African fintech industry by successfully securing $83 million through Series C funding.
Founded in 2013, Yoco’s portable card machines started out from a small company and is now the largest independent point-of-sale payments company in the market, serving over 150,000 businesses and adding over 500 merchants per day. Yoco has become the go-to platform for SMEs struggling to accept cards and claims to be processing more than $1 billion in card payments per year. As the pandemic greatly increased the need for online payments, Yoco’s plan to expand strategically into digital areas is designed to help businesses in this changing environment.
Specializing in end-to-end product offerings, platform compatibility and market share status, Yoco has managed to secure the country’s largest Series C investment with ample room for expansion across Africa and the Middle East. The company was co-founded by four friends: Katlego Maphai (CEO), Carl Wazen (CBO), Bradley Wattrus (CFO), and Lungisa Matshoba (CTO).