Yokoy, a Zurich, Switzerland-based all-in-one fintech platform that provides an AI-based full spend management suite for midsize and enterprise companies, raised $80 million in Series B financing, bringing the total raised to $107 million.
The round was led by Sequoia Capital, with participation from Speedinvest, Visionaries Club, Zinal Growth, and existing investors Balderton Capital, Six FinTech Ventures, Left Lane, Swisscom Ventures, and well-known business angels.
The new funding will continue to fuel the continued growth of Yokoy and its team, and support the company on its journey to revolutionize the way businesses spend money. Yokoy intends to expand further into Europe and beyond later this year.
Company: Yokoy Group AG
Round: Series B
Funding Month: March 2022
Lead Investors: Sequoia Capital
Additional Investors: Speedinvest, Visionaries Club, Zinal Growth, Balderton Capital, Six FinTech Ventures, Left Lane, and Swisscom Ventures
Company Website: https://www.yokoy.ai/
Software Category: Expense Management Software
About the Company: Founded in Switzerland in 2019 by experienced business professionals and academics, Yokoy is the leading all-in-one fintech platform that provides an AI-based, complete spend management suite for mid-sized and large enterprises. Combining automation, API integrations, and machine learning developed in Yokoy's cutting-edge research lab, the company offers expense management, vendor invoice management, and smart corporate credit cards in a single intuitive tool. All of this is backed by state-of-the-art security and stability. Yokoy is on a mission to finally rid the world of corporate spending of the outdated processes that have plagued it for decades.