News

News

SME Payments Innovator from South Africa Yoco Plans International Expansion

SME Payments Innovator from South Africa Yoco Plans International Expansion

South African payment services provider, Yoco, is planning international expansion after raising funding through two foreign, fintech-focused institutional investors. The new capital from US-based Quona Capital and Netherlands-based Velocity Capital will help Yoco grow its national footprint, launch new fintech services and lay the groundwork for international expansion in 2018. Yoco enables SMEs to accept card payments, and provides card readers and free point-of-sale and business intelligence tools to 6 500 South African merchants. It processes over R1 billion in transactions per year.

Credit Risk & Scoring