Yokoy Awarded the Prestigious SEF.Growth High Potential Label
- Last updated: February 15, 2024
- News
Head of Field & Expansion Marketing, Yokoy
Every year, SEF.Growth, the startup program of the Swiss Economic Forum, evaluates promising startups’ business models and strategic directions, granting a select few the esteemed SEF.Growth High Potential Label. We at Yokoy now join this esteemed group of heavy hitters with one thing in common: a high growth potential.
Since our inception in late 2019, we’ve redefined the world of business payments, expense management and invoice processing with a state-of-the-art, AI-powered spend management suite — naturally setting us on a path of heavy growth. This seal of approval from SEF.Growth strengthens our belief in our unwavering dedication to innovation and excellence that always puts our customers’ needs first.
"Everything we do, we do to generate value for our customers. The number of dollars saved thanks to using Yokoy's technology is our north star metric."
Humble Beginnings: Rapid Growth Against the Odds
Our journey has been marked by resilience from the get-go, overcoming challenges (including our first year of businesses conveniently coinciding with the 2020 pandemic) to swiftly secure our first initial customers based only on an impressive product; setting the scene for the exponential growth that led us to where we are today.
“To make this growth possible, we left out the pre-seed financing round and went directly into a Series A to raise $26 million in 2021 and a Series B to raise another $80 million in 2022,” Philippe reveals.
The support of investors, including the renowned US Venture Capitalist Sequoia, has played a crucial role in our success story. With Sequoia’s expertise and global network, we’ve undoubtedly strengthened our position in the market and accelerated our growth.
Bright Future: Yokoy’s Growth Journey is Only Getting Started
Growth doesn’t happen in a vacuum. It’s in our very DNA to stay ahead of the curve, always trying to leverage insights from experts, partners, and customers to continually enhance our offerings.
“Having a third-party opinion on what you do is always interesting. We had fascinating discussions with SEF.Growth experts. And for sure, we will benefit from the label by gaining trust from new potential customers,” Philippe acknowledges.
We see our journey — from inception to now receiving the prestigious SEF.Growth High Potential Label — as a testament of our team’s unwavering dedication to revolutionising spend management.
"I am very proud of our team. Many of our first employees are still part of it. [...] We have people in our team who could work for Google, universities, or other prestigious players, but they choose to work for us, and be part of our mission."
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