South Africa-based digital payment technology provider Yoco has secured $83m in series C funding from investors including Orange Ventures, a corporate venture capital subsidiary of telecommunications firm Orange.
Dragoneer Investment Group, Breyer Capital, HOF Capital, The Raba Partnership, 4DX Ventures, TO Ventures, Partech, Velocity Capital Fintech Ventures and Quona Capital also took part in the round together with unnamed private investors.
Yoco provides a card machine that enables small merchants to accept digital payments, in addition to a payment gateway that accepts online payments, and a suite of business management software tools.
Partech subsidiary Partech Ventures led the company’s $16m series B round in 2018, investing with Orange Ventures (then called Orange Digital Ventures), development bank FMO, Velocity Capital and the Quona Capital-managed Accion Frontier Inclusion Fund.
The round increased Yoco’s overall funding to $23m. CRE Venture Capital, Robby Hilkowitz and Greg Kidd had supplied an undisclosed amount of funding before Quona Capital and Velocity Capital co-led a series A round of undisclosed size in 2017.
