South Africa's YOCO, a Fintech startup that helps small businesses accept card payments, has announced that it has raised an undisclosed amount of Series A . The company say the funding will be used for international expansion. The Series A funding round is from Quona Capital and Velocity Capital.
“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,”Katlego Maphai, Yoco CEO and co-founder
“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,” said Katlego Maphai, Yoco CEO and co-founder.
Yoco was launched in 2015 by four friends as the company says with the aim of empowering and providing South African small businesses with a card payment and point-of-sale (PoS) gadget that allows them to accept card payments.