Yoello, a Welsh digital payments platform, announced on Thursday it received an investment from banking group Hodge to accelerate the growth and development of its mobile payments/banking platform.
Founded in 2015, Yoello describes itself as a payment platform aiming to disrupt the existing payment system by utilizing the open banking legislation (PSD2) to cut out the middlemen, and in turn, bring merchants and customers closer together. Yoello not only in the UK but also in Australia, the U.S., and Ireland.
“We offer online ordering solutions to support businesses with improving efficiency and customer experience. Through our mobile technology operators can offer contactless table service, click & collect and delivery services – all through a single easy to use platform.”
Speaking about the investment, Sina Yamani, Founder and CEO of Yoello, stated:
“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.”
David Landen, CEO of Hodge, concluded:
“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.”
The amount of the investment has not been disclosed.