Yokoy

Yokoy is a Swiss company that provides a range of expense management solutions, ranging from card and non-card employee expense management to supplier invoicing and payout management. The platform also uses proprietary machine learning technology to improve the efficiency and accuracy of expense automation and mainly targets medium to large enterprise customers. Yokoy claims its platform can reduce spend management-related costs by 90%.

Yokoy’s non-card expense management platform lets enterprises automate the employee reimbursement process - from uploading receipts to integrating with ERP systems and ultimately paying the employees. It also offers a physical and virtual business expense card issuing platform, in partnership with Mastercard for Switzerland and Visa for the rest of Europe. These cards can also be integrated with Yokoy’s expense management platform for expense visibility and insights.

Through its invoice management solutions, enterprises can automate invoice sorting, categorizing, and approving. It can also enable recurring subscription payments through the platform. Yokoy also integrates with several third parties to enhance its expense automations, including accounting and finance (Sage and SAP Business One), HR/payroll (Personio and Workday), credit cards (UBS and Cornercard), and business travel tools.

Key customers and partnerships

Yokoy had over 500 enterprise customers as of March 2022, including ASK Chemicals, Bobst, On, Stadler, and Bitpanda. It further noted that its customer base had grown by 400% YoY at the time.

The company has also partnered with several global enterprises to improve its solutions, including KPMG and PwC.

Funding and financials

Yokoy raised USD 80 million in Series B funding in March 2022, led by Sequoia Capital, to invest in expanding its presence in Europe and in product developments, including further developing its AI, automation, and security systems.