Yoco is an African technology company that builds tools and services to help small businesses get paid, run their business better, and grow.
Yoco offers a point of sale card reader that links to its proprietary payment and performance software at an entry cost of 1799 South African Rand, or just over $100.
Yoco was founded in 2013 by Katlego Maphai, Carl Wazen, Lungisa Matshoba and Bradley Wattrus. The company is headquartered in Cape Town, Western Cape, with an office in Johannesburg, Gauteng, South Africa.
Yoco’s strategy as the foremost card payments provider in South Africa lies in creating access and removing barriers to adopting digital financial services.
Yoco currently serves 150,000 of these businesses and adds over 500 merchants per day. The company claims to be processing more than $1 billion in card payments per year, and in its six years of existence, it has processed over $2 billion in card payments.
Yoco is backed by Dragoneer Investment Group, Breyer Capital, Partech, Quona Capital, FMO, Velocity Capital, 4DX Ventures, and others. The company raised $83M in Series C round on Jul 27, 2021. This brings Yoco's total funding to $106M to date.