Overview of the transaction
Yoco, considered to be South Africa’s leading financial platform for small businesses, has raised $83m in funding.
The round was led by Dragoneer, with further participation from Breyer Capital, Partners of DST Global, HOF Capital, The Raba Partnership, 4DX, and To.Ventures.
Existing investors Partech, Velocity Fintech Ventures, Orange Ventures and Quona Capital also participated in the round.
These funds will enable Yoco to accelerate the development of its financial ecosystem for small businesses as well as expand its presence beyond South Africa.
Overview of Yoco
Founded in 2013 and headquartered in South Africa, Yoco offers omnichannel payment acceptance (POS devices and online) and an ecosystem of financial and software tools to small businesses Since launching its first product in late 2015, Yoco has grown its merchant base to over 150,000 small businesses and is now processing more than US$1 billion in card payments per year Additional services offered by Yoco include working capital financing and business tools to assist business owners with stock management and business intelligence Yoco is ideally positioned to take advantage of the shift to digital payments; 80% of their merchants have never accepted a card payment before using Yoco
Royal Park Partners' role
Royal Park Partners acted as exclusive financial and strategic advisor to Yoco and its shareholders This transaction highlights Royal Park Partners’ experience in the payments vertical and working with fintech businesses in emerging markets
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