South African payments company Yoco has raised about R1.2-billion from top investors in a series-C funding round as demand grows among small businesses for its digital payments tools.
Browsing: Katlego Maphai
Although reports have emerged of quieter-than-normal retail stores this Black Friday weekend, it seems many South African consumers turned to online shopping to beat the crowds – and the coronavirus.
Yoco, which provides point-of-sale solutions to more than 80 000 small and medium businesses in South Africa, is ideally placed to measure the impact of the Covid-19 lockdown on this segment of the economy.
Independent card payments provider Yoco’s move into granting loans to its small business customers is paying off.
South African point-of-sale payments provider Yoco is launching a new, lower-cost POS terminal as it looks to double its customer base from 50 000 to 100 000 in the next year ahead of a further fundraising round.
South African fintech start-up Yoco has raised $16-million (R248-million at the time of writing) from a range of international and local investors.