Yoco, a fintech in South Africa powering 200,000 small and independent businesses, secured a $100 million credit facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit and asset-backed finance, to fund Yoco Capital, a flexible automated funding solution for Yoco’s merchants.
“We’ve spent a decade building an operating system that runs a merchant’s whole business, payments, point of sale and now the decisions in between. Financing was the one layer we didn’t fully control. This facility changes that,” Carsten Holtkemeyer, CEO of Yoco, said.
“Yoco has a proven track record of supporting the operating needs of small and independent businesses,” Jason Brown, senior partner at VPC, said. “We’re supportive of Yoco’s mission to expand access to flexible financing solutions for South African entrepreneurs.”
Yoco plans to use the facility to scale Yoco Capital’s reach, extending funding to more of its 200,000+ merchants across retail, hospitality and services.
