Zurich-based Startup Yokoy (website), which specializes in corporate settlements, is expanding to Spain and will have its offices in Madrid. The move follows the opening of its European hub in Amsterdam, Netherlands, and the closing of a fresh $80 million funding round.
In Spain, the focus is currently very much on digitizing the economy to keep up with other European countries – with strategies such as “Digital Spain 2025,” among others. The company says it is already in talks with Spanish customers and plans to expand its business in the coming months significantly. After Germany, Austria, the Netherlands, and Serbia, Spain is the company’s sixth location, which was founded in 2019.
According to the fintech, it employs more than 250 people, of which around 100 are based in Zurich. Its more than 500 customers include sporting goods manufacturer On Running, train builder Stadler Rail and comparison service Comparis. In addition to Sequoia Capital from California’s Silicon Valley, investors have a fund from the Swiss stock exchange operator SIX.