Yoco

Over 70% of South Africa's small merchants were cash-only because traditional banks charged prohibitive fees for card terminals. Application processes took weeks, required extensive documentation, and imposed high minimum transaction volumes. Informal and micro businesses were completely excluded from digital payments.

Yoco built an affordable point-of-sale system with a low-cost card reader, zero monthly fees, and instant sign-up. Merchants could order a reader online, receive it within days, and start accepting card payments immediately. They expanded into a full business toolkit including invoicing, analytics, and working capital loans based on transaction history.

Processed over $4 billion in annualized transactions. Onboarded 350,000+ merchants across South Africa. Raised $83M in Series C. Expanded to a suite of financial products including Yoco Capital for merchant lending.

Simplicity wins in underserved markets. Every feature removed increased adoption. The first product had 15 settings screens — the breakout product had zero. In South Africa, trust is built through physical presence, not just digital marketing. Pop-up activation events in townships drove more signups than the entire online funnel.