Yoco Names Carsten Höltkemeyer as New Chief Executive

South African fintech leader Yoco has appointed German banking executive Carsten Höltkemeyer as its new CEO, marking a significant shift in leadership as the company prepares for accelerated expansion. With over 200,000 small businesses across South Africa relying on Yoco’s payment solutions and processing more than $1 billion annually, this transition aims to build upon an already impressive foundation.

Höltkemeyer brings extensive experience scaling product-led financial services companies through critical growth inflection points. Previously at Solaris, Barclays, and the Royal Bank of Scotland, his expertise aligns with Yoco’s current trajectory as it seeks to evolve from a payments provider into a comprehensive commerce platform.

The company noted that Höltkemeyer’s appointment follows a period where co-CEOs Lungisa Matshoba and Bradley Wattrus led the organization after the departure of founding CEO Katlego Maphai. The transition positions Yoco to capitalize on its momentum while bringing in proven leadership for the next stage.

Vision for the Future

Yoco’s vision extends beyond simple payment processing. The company aims to provide independent businesses with an all-in-one smart commerce platform that leverages AI, software advancements, and financial technology—all through a single, integrated interface.

“Our goal is to give merchants an unfair advantage by putting the latest technological innovations in their hands,” Yoco stated. “We’re not just building a card machine; we’re creating a genuine commerce partner that understands the unique needs of independent businesses.”

Höltkemeyer echoed this sentiment, emphasizing his commitment to listening to merchants and working alongside the team to build solutions that help them thrive.

The founding team will remain actively involved in product innovation, ensuring Yoco retains its entrepreneurial DNA while expanding its capabilities. With Höltkemeyer at the helm, Yoco is poised to empower South Africa’s small businesses with the tools they need not only to participate but to win in today’s competitive market.