Following on from the opening of its European hub in Amsterdam and the closing of its Series B funding round, Yokoy has maintained its international expansion strategy with its entry into the Spanish market.
The fintech, founded in 2019 and headquartered in Switzerland, is expanding its spend management services to the Southern European region by establishing its regional office in the Spanish capital of Madrid.
Promoting what it describes as the ‘hyperautomation of spend management’, the company applies artificial intelligence (AI) in the digitalisation of supplier invoices, corporate cards and expenses; being the three main pillars of business spending.
Its entry into the Spanish market succeeds the founding of the company’s European hub in Amsterdam in February of this year, which was followed by the closing of its $80million Sequoia Capital-led series B a month later.
Its Madrid office is the company’s sixth location on the continent.
Spanish mid to large-sizes enterprises specifically are showing a heightened interest in implementing automated spend management solutions; per the company’s official statement.
The company’s CEO, Philippe Sahli, reveals its existing work in engaging with Spanish customers and confirms the company’s intention to “significantly grow our business in the coming months.”
“We follow an ambitious business plan for Spain,” comments Sahli, “relying on our previous expansions as a blueprint as well as on our sound product know-how and financial expertise.”
The company’s statement confirmed its mission to transform the way business spending is managed by leveraging applied AI.
“We understand the needs of global but also regional companies when it comes to modernising their processes,” adds Sahli, “and designed the Yokoy platform to be customisable and scalable, covering the entire enterprise spend management cycle.”