Yokoy plans to use the funds to pursue European expansion and expand its team. Here are the top-line bullets you need to know.
Yokoy, a spend management platform, has raised $80M in a Series B. The round drew participation from Sequoia Capital, Balderton Capital, and Left Lane Capital, among others.
How’s the company performing?
- Switzerland-based Yokoy provides corporate credit cards and helps organizations automate expense and invoice management.
- The company has over 500 enterprise customers, including Bitpanda, On, and ASK Chemicals.
- It integrates with 50+ corporate tools, such as SAP, Uber, Datev, Workday, and Personio.
- It has grown 400% year-over-year.
Source: Yokoy
Why does the market matter?
- The global spend management software market is expected to reach a value of $4B by 2027, growing at a CAGR of 17.7%, according to Verified Market Research.
- Rapid digitization has led to the proliferation of account information and spend data, increasing the demand for solutions to enhance data visibility, insight generation, and regulatory compliance.
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