Welsh bank Hodge has made a landmark investment in up-and-coming payment platform Yoello. The investment will help the Wales-based FinTech continue its accelerated growth of their mobile payments and banking platform.
This investment has landed at a fantastic time for Yoello, with the multi-award winning company making further headway in UK markets and international expansion. After launching its mobile payments platform into the UK hospitality and retail market last year, thousands of businesses are now trading through Yoello not only in the UK but also in Australia, USA and Ireland.
Sina Yamani, Founder and CEO of Yoello, said of Hodge’s investment:
“This has come at a fantastic time for Yoello. We have recently been recognised as one of the top growing fintechs in the UK by Tech Nation and have successfully launched in international markets. This investment is a real boost for the company as we continue to grow and support the hospitality and retail industries with our technology across the globe.
“To get this investment from an institution such as Hodge is a testament to the hard work our team has put in since we started. It is a privilege to work so closely with the Hodge team to innovate our offering in the coming months and years. Hodge has played a significant role in the development of the financial sector across Wales and is well known for its tremendous culture and philosophy.
“This partnership will accelerate Yoello’s international expansion whilst enabling disruptive financial products for our customers. Both companies share the same vision of innovating in the finance sector through technology and I am really looking forward to some of the cutting-edge projects that we will be developing together over the coming years.”
Jonathan Hodge, Chair of The Carlyle Trust, parent of Hodge, said of the deal:
“Yoello is one of the UK’s fastest growing fintechs and is an incredible home-grown success story. Its expansion has accelerated through the pandemic and is helping to revolutionise and revitalise the hospitality sector with its payment platform. We believe that this is just the start for Yoello and we are really excited to partner with the Yoello team to help the company reach its full potential.”
David Landen, CEO of Hodge commented:
“Innovation is at the heart of what we do here at Hodge. Although we have a long history in financial services, we know that modernisation and technology are key to progressing the sector and our business. We hope this is the first of many investments Hodge will make to help support tech start-ups and cement our reputation for developing financial services businesses in Wales for the good of the economy and our customers.”