When TechCrunch covered the company three years ago after its USD 16 million Series B raise, the company had little over 30,000 merchants using its platform.
Earlier in 2021, Yoco was looking to expand its services into other aspects of digital payments. Representatives listed mobile money, QR payments and electronic funds transfer (ETF) as offerings in its pipeline. According to the company, the number of small businesses that were fully cashless jumped 300% from March to July 2020. Yoco currently serves 150,000 of these businesses and adds over 500 merchants per day. The company claims to be processing more than USD 1 billion in card payments per year, and in its six years of existence, it has processed over USD 2 billion in card payments.
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