Yoco raises $83 million Series C to expand small-business finance
The South African payments company plans broader financial tools and expansion beyond its home market.
Yoco has raised $83 million in Series C funding to develop its financial services for small businesses and expand beyond South Africa. New backers include Dragoneer Investment Group, Breyer Capital and HOF Capital, alongside returning investors.
The round builds on a platform that served more than 150,000 merchants at the time of the announcement. Yoco planned to bring payments, business software and access to capital together, rather than rely only on its card readers.
The investment brought total funding since inception to $107 million. That cumulative figure includes earlier financing; the Series C itself was $83 million.
Use of funds
Develop payments, software and capital services
Expand beyond South Africa