Yoco, a payments and software business, plans to hire 200 additional employees in the coming year after raising $83 million (R1.2 billion) from both new and existing investors.
The company, which has funded $107 million (R1.59 billion) to date, claims to have experienced substantial growth during the Covid-19 epidemic since small companies’ preferred payment method has switched away from cash.
Yoco aims to capitalize on this trend by strengthening its market position in South Africa and expanding throughout Africa and the Middle East over the next two years, according to the company.
Its objective, it added, is to reach at least a million merchants within the next four years, with over 150,000 firms on its platform.
Yoco’s headquarters are in Cape Town, but the business describes itself as a “remote-first company” that is searching for talent across Europe, the Middle East, and Africa.
The company claims to have already recruited senior executives from Monzo, Paypal, and Uber, as well as a new board chairwoman in Juan Fuentes, the former managing director of Pagseguro, a Brazilian payments behemoth he built into a $19 billion payments behemoth.
More information about the company’s open positions may be found here.