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Startup Yokoy raises USD 80 mln in funding round

Tuesday 29 March 2022 14:57 CET | News

Switzerland-based Yokoy, a startup that helps customers manage their expenses, has raised USD 80 million in a financing round led by American venture capital company, Sequoia Capital.

Yokoy is a platform designed to help large companies manage their expenses, invoicing, and credit card processing. Its proprietary software mainly targets large corporations, including postal service DPD and manufacturer Stadle, in the competitive market of expense management led by Germany-based SAP and Coupa Software. 

Yokoy was founded in 2019 and, with the new infusion capital, reached a total cap of more than USD 500 million. The startup will use the money to continue its expansion in Europe, following the opening of an office in the Netherlands, and, potentially, enter the US market.

Sequoia Capital is known as one of the pioneer investors in multi-billion companies ranging from Apple to Buy Now, Pay Later pioneer Klarna, and has recently expanded its reach in Europe, aiming to finance the most promising fintechs.

Source: Link


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Keywords: startup, funding, crowdfunding, expansion, e-invoicing, credit card, payment processing
Categories: Payments & Commerce
Companies:
Countries: Europe
This article is part of category

Payments & Commerce