Yokoy raised $80 million in a Series B round led by Sequoia Capital.

Yokoy, a Zurich, Switzerland-based software startup developing an automated spend management tool for medium and big companies, raised series B in an equity round closed at $80 million.

The money was raised from investors led Sequoia Capital, joined by Speedinvest, Visionaries Club, and Zinal Growth together with existing shareholders Balderton, Six FinTech Ventures, Left Lane Capital and Swisscom Ventures.

Yokoy, founded in 2019 by Devis Lussi, Lars Mangelsdorf, Melanie Gabriel, Philippe Sahli, Thomas Inhelder, developed a software tool for midsized to enterprise-level companies, helping them fully customise their own process flows, integrating with all major third-party tools, as well as anonymise and automaticall capture data to constantly improve processes based on each company’s needs.

It's backed by 100 employees and works with over 500 clients including DPD Group, ASK Chemicals, On, and Bitpanda, resulting in the spend management optimisation of over 80,000 employees.

Yokoy previously closed series A at $26 million in 2021 in and raised $2.7 million in 2020.