In 2015, Yoco’s first chapter was about access. Giving independent businesses in South Africa their first card machine. The tools to participate in the economy.

200,000+ merchants later, 30 million cards tapped per annum, billions in capital advanced, we built a thriving movement of entrepreneurs who are taking South Africa forward.

The second chapter is much bigger: giving independent businesses the intelligent, integrated capability not just to participate, but to win. A platform that drives more revenue, simplifies your operations, backs you with capital, and helps you make better decisions. An all-in-one smart commerce platform that takes the latest technological advancements available and puts them in the hands of independent businesses.

Why Carsten

This appointment comes nine months after Katlego Maphai stepped back as CEO. During that time, fellow founders Lungisa and Bradley served as Co-CEOs while we ran a global search that ultimately led us to Carsten.

Carsten brings a wealth of fintech and financial services experience from his time at Solaris, Barclays, and the Royal Bank of Scotland. Importantly, he brings deep experience scaling product-led financial services businesses through exactly the kind of inflexion point we are entering. The fit was unmistakable.

“What drew me to Yoco is both the scale of the opportunity and the clarity of its purpose. Independent businesses are the backbone of South Africa’s economy, and Yoco has built something genuinely meaningful in service of them. I’m looking forward to listening, learning, and working alongside the team to build what comes next.”

— Carsten Höltkemeyer, incoming CEO

What Yoco is becoming

Say goodbye to disconnected tools. Our goal is to give merchants an unfair advantage by leveraging advancements in AI, software, and financial technology and making them available to independent businesses through a single, integrated platform that is simple and affordable.

Every merchant who runs payments, POS, and capital through a single Yoco account will get more value per transaction and see their platform get smarter.

That is the platform we are building. Not a cheaper card machine. A genuine commerce partner. The kind only an independent fintech can be.

Remaining founder-led

The founding team is not stepping back. Yoco’s founders will remain fully engaged in driving product innovation for merchants. Carsten brings the scaling experience to match that ambition to its moment.

Lungisa and Bradley return to their roles as CPTO and CFO post-transition. Carl Wazen continues as Chief Business Officer. Katlego Maphai remains engaged in strategy as a co-founder.

The mission, enabling people to thrive, does not change. The spirit of Yoco, built by entrepreneurs, for entrepreneurs, does not change. We now have more ability to deliver on this mission at the scale the next decade demands.

Thank you for trusting us with your businesses. We are excited to take an already strong foundation to new heights.

Lungisa, Bradley, Carl, and Katlego

Co-founders, Yoco