Company Overview
Yoco is a fintech company headquartered in Cape Town, South Africa, co-founded in 2015 by Katlego Maphai, Bradley Wattrus, Lungisa Matshoba, and Thabang Ramongane. Yoco focuses on providing simple and affordable payment solutions for African SMEs, including mobile POS terminals, online payment gateways, and merchant management tools. Yoco is one of the fastest-growing fintech companies in Africa, serving over 200,000 merchants.
Related Provider: Yoco Payment Provider
Founders & History
Yoco was founded in 2015 by four South African entrepreneurs in Cape Town. The founders deeply understood the challenges African SMEs face in accepting card payments and digitizing their operations — high POS terminal costs, complex application processes, and slow settlement cycles. With the mission of "making it easy for every African merchant to accept payments," Yoco launched affordable, easy-to-use mobile POS and online payment products.
Milestones
- 2015: Yoco founded in Cape Town, South Africa
- 2016: First mobile POS card terminal launched, supporting chip and magnetic stripe cards
- 2018: Surpassed 10,000 merchants; launched co-branded business support programs
- 2019: Secured Series A funding; launched Yoco Go mobile management app
- 2020: Contactless and online payment features introduced during pandemic; merchant count doubled
- 2021: Yoco Online payment gateway launched for e-commerce collections
- 2023: Surpassed 200,000 merchants; became one of South Africa's largest independent payment providers
- 2024-2026: Expansion to more African countries; deepened POS + online integrated payment solutions
Product Portfolio
| Product | Description |
|---|---|
| Yoco POS Terminal | Mobile card machine supporting chip, magnetic stripe, and contactless payments |
| Yoco Online | Online payment gateway supporting e-commerce websites and payment links |
| Yoco Go App | Merchant management app with transaction history, reports, and inventory |
| Yoco Business | All-in-one merchant management dashboard with staff management and reconciliation |
Core Strengths
- Deep African Localization: In-depth understanding of African payment markets; product design tailored to local SME pain points and budgets
- Low Equipment Cost: POS terminal pricing far below traditional bank equipment, lowering barriers for micro-merchants
- Fast Onboarding: Simple application process with activation in days rather than weeks
- Full Digital Suite: From POS card acceptance to online payments and merchant management app — one-stop digital business tools
