Yoco has named Carsten Hôltkemeyer as its new Chief Executive Officer, marking a significant leadership shift as the South African fintech prepares for its next phase of growth. His appointment takes effect on 1 June 2026, following a global search initiated after founding CEO Katlego Maphai stepped back from the role nine months earlier. During the interim period, co-founders Bradley Wattrus and Lungisa Matshoba led the business as Co-CEOs.
Leadership Transition
The company said the co-CEO structure was always intended as a temporary bridge while it identified a dedicated external leader for the next stage of expansion. Hôltkemeyer was selected after a search that assessed 450 candidates across Africa, Europe, the United Kingdom, the United States, and the Middle East. Yoco’s founders said the decision was unanimous and reflected the need for added scaling experience without weakening the founder-led culture that has shaped the company since launch.
Yoco’s Next Growth Phase
Founded in 2015, Yoco has grown into South Africa’s largest independent payments and point-of-sale platform for small and independent businesses. The company now serves more than 200,000 merchants, supports around 30 million unique card transactions annually, and has advanced billions in working capital to businesses. Its first decade focused on widening access to card payments for entrepreneurs who were often underserved by banks and traditional financial institutions.
AI And Platform Ambition
Yoco’s next chapter will focus on building what it describes as a smarter commerce platform for independent businesses. The company plans to combine payments, point-of-sale tools, capital access, staff management, and business data into a more integrated system designed to help merchants make better decisions. Artificial intelligence is expected to play a central role through proactive guidance, smarter capital offerings, and tools that reduce operational complexity for business owners.
Why Hôltkemeyer Was Chosen
Hôltkemeyer brings experience across fintech and financial services, including senior roles at Solaris, Barclays, and the Royal Bank of Scotland. Yoco said his background in scaling product-led financial services businesses through complex growth stages makes him well suited to the company’s current inflection point. The founders also highlighted his alignment with Yoco’s mission to support independent businesses while adding operational depth to the leadership team.
Continuity For Founders And Merchants
The appointment does not signal a retreat by Yoco’s founders, who will remain closely involved in the business. Once the transition is complete, Matshoba will return to his role as Chief Product and Technology Officer, Wattrus will continue as Chief Financial Officer, Carl Wazen will remain Chief Business Officer, and Maphai will stay engaged on strategic matters as a co-founder. For merchants, Yoco said there will be no immediate changes to pricing, products, or existing partnerships as a result of the leadership announcement.
South Africa Remains Core
Although Hôltkemeyer is an international appointment, Yoco said South Africa remains the company’s central market and strategic priority. He will commute to South Africa from 1 June 2026 and fully relocate in September 2026. The company said any future expansion beyond South Africa would be considered only after its next stage of platform development has been proven locally.
Yoco’s appointment of Hôltkemeyer reflects a shift from its first decade of payments access toward a broader ambition of integrated financial and operational tools for independent businesses. With its founders staying in place and a new CEO focused on scale, the company is positioning itself to compete beyond payments in a market still largely shaped by banks and legacy technology providers. The success of this transition will depend on whether Yoco can turn its merchant base, data advantage, and AI plans into practical tools that help small businesses grow.