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Accept Chip & PIN cards on Android or iPhone in Africa

Accept Chip & PIN cards on Android or iPhone in Africa

Small businesses in South Africa need a little help... there is a massive payment acceptance gap. Over 75% of the adult population have cards, yet only 6% of the country's 4 million sellers can accept cards. Yoco was founded by 4 friends who set out to build Africa's first merchant payment aggregator to enable the smaller enterprise segments of the market to transact. Yoco offers merchants a choice of 2 mobile card readers that connect to their smart phone / tablet allowing them to accept payments quickly and simply. The solution goes beyond payment processing in that it includes a free point-of-sale app and a free business intelligence portal, enabling business owners to monitor store performance. Today, Yoco is the fastest growing payments company in South Africa (38% revenue growth in Nov). Being the only merchant aggregator in the market, the Yoco team is using technology and data to innovate on risk management and cost to serve, opening up new segments and growing the market.

Lungisa Matshoba

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Katlego Maphai

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Founder Yoco

Carl Wazen

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Founder at Yoco Previously @Delta Partners Group and @Citigroup.

Bradley Wattrus

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Founder Yoco
Total raised

$17.6M

Funded over

2 rounds

Latest round

Series B (Sep 2018)