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Yoco raises funding for expansion

South African fintech startup Yoco, which allows small businesses to accept card payments, has raised an undisclosed amount of funding to help it expand nationally and internationally.

By Tom Jackson

3 Mar 2017

Yoco's CEO Katlego Maphai

Launched in 2015, Yoco offers small businesses and entrepreneurs an integrated card payment and point-of-sale (PoS) system that allows them to securely accept card payments, with no monthly fees.

The company has now announced it has concluded a Series-A funding round from the United States (US)-based Quona Capital and Velocity Capital from the Netherlands.

Yoco will use this latest funding round to expand further across South Africa and into other markets, while it will also add new products to its bouquet.

“In addition to being a milestone and validation for Yoco, this round is a vote of confidence in South Africa’s growing fintech and startup ecosystem,” said Yoco chief executive officer (CEO) Katlego Maphai.

“Raising smart capital from seasoned fintech investors will enable us to continue our self-directed journey to grow the SME payments markets through world-class execution, delivered with radical simplicity.”

Source: Disrupt Africa

Disrupt Africa is a one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas.

Our readers can keep up-to-date with the quirky world of tech hubs and accelerator programmes; and our reporters provide live coverage of the all-important tech and entrepreneurship events across Africa.

For our startup, entrepreneur, and investor friends alike, our mission is to provide practical information and advice from across Africa’s varied vibrant markets, and to promote engaged and thought-provoking discussion about the exciting ecosystem we belong to.

Go to: http://disrupt-africa.com/

Tom Jackson

About Tom Jackson

Co-founder @DisruptAfrica. Tech and business journalist in Africa. Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.