South African Startup Yoco Raises USD 83 Mn Series C Funding Round

Yoco, a payments and software startup based in South Africa, has raised USD 83 Mn in Series C funding to help it grow its platform and expand internationally. Among the company’s new investors is Dragoneer Investment Group. Also joining in the round are Breyer Capital, HOF Capital, The Raba Partnership, 4DX Ventures, TO Ventures, and several current and former executives from global tech leaders such as Coinbase, Revolut, Spotify, and Gojek. The funding round also included existing Yoco investors Partech, Velocity Capital Fintech Ventures, Orange Ventures, and Quona Capital.

Yoco builds tools and services to help small businesses accept card payments in-store and online, access loans, and manage their day-to-day activities. Yoco plans to expand across Africa and the Middle East to reach one million merchants in the next four years. It is currently piloting its technologies in Mauritius with plans to add another country by the beginning of next year.