Swiss Spend Management Firm Yokoy Closes US$26 Million Series Aby Fintechnews Switzerland October 26, 2021
Swiss spend management specialist Yokoy has raised US$26 million in a Series A funding round led by US investor Left Lane Capital, with participation from prominent European investor, Balderton Capital.
Yokoy will look to use the new funds to expand deeper into the US, Europe and more regions across the globe.
The funding will also be used to further enhance the technologies underpinning the platform of its AI, automation and security systems.
Since its launch two years ago, Yokoy has grown to more than 400 customers, more than 80,000 users, five global offices, and almost 100 employees with midsize and enterprise customers worldwide including DPD Group, Stadler Rail, Russia’s Sberbank, the Swiss bank Swissquote.
Dr. Devis Lussi, Co-Founder and CTO of Yokoy said,
“With Yokoy we’re building a highly intelligent, highly secure, and highly customisable global spend management platform that empowers our customers to take control of their vast corporate spending processes and fine tune their workflows.
We’re helping them to cut costs, save time and bring clarity to their global operations in a way that fits their ambitions. It’s this that we believe will see us becoming the leading spend management platform in the world.”