Fintech Yokoy gets 73 million – also from Sequoia


Fintech Yokoy gets 73 million – also from Sequoia
The founding team of Yokoy (from left): Devis Lussi, Thomas Inhelder, Philippe Sahli, Melanie Gabriel and Lars Mangelsdorf.


Yokoy is now positioning itself in Zurich – with a prominent financier: this is how the Swiss fintech has landed the top investor Sequoia. The American VC is leading the current Series B funding round, in which the Yokoy founders have raised the equivalent of 73 million euros (80 million US dollars). The Zurich-based company now has total financing of around 100 million euros. In addition to Sequoia, the early-stage investor Speedinvest, the Berlin venture fund Visionaries Club, the family office Zinal Growth from Switzerland as well as the existing investors and some business angels, including the top VCs Balderton Capital from London and Left Lane from New York, also participated.
With the fresh capital, the start-up wants to expand its team of currently 100 employees and expand its business in Europe. In addition, part of the money will be used to improve the product software and add new payment options.

Bitpanda and Scandit use Yokoy software

Yokoy was founded in 2019 by the five Swiss Devis Lussi, Lars Mangelsdorf, Melanie Gabriel, Philippe Sahli and Thomas Inhelder. The fintech offers medium-sized and large companies a complete solution for their expense management. Companies can use the platform to manage travel and delivery expenses and issue their employees with Visa cards that are integrated into the system. This allows companies to keep an eye on all transactions.
According to the startup, it has won more than 500 customers so far, including the parcel service provider DPD, the German group ASK Chemicals, the running shoe manufacturer On, the barcode unicorn Scandit and the neo-broker Bitpanda. Eric Demuth, CEO of Bitpanda, is also engaged as a business angel: "I know the advantages of the platform first-hand and was there immediately when I was asked if I would like to participate in this round," he is quoted as saying.

Read too

Latest news

"Locked up" in your own home: This is how the lock-in effect blocks the housing market
One in four is willing to change jobs, preferably this year — what employers can do about it, according to the survey
The PCK refinery in Schwedt, which is in Russian hands, could be expropriated — an expert fears shortages of fuel, kerosene and heating oil
Sweden, Denmark & Co: What makes the Nordic way of working and living so attractive — and what we can learn from it
BMW, Tesla and VW: Why manufacturers of high-priced cars are surviving the chip shortage so well while the rest of the auto industry stumbles

Related Posts

Leave a Reply

%d bloggers like this: