German Metro Group invested in British start-up Yoyo Wallet, a rapidly-growing European mobile payment service. Together with other companies, Metro Group invested 14 million euro in Yoyo Wallet.
Branded mobile experience
“Yoyo has convinced a growing number of customers to deploy its data-driven payment and loyalty marketing solutions, including most recently, Caffè Nero, the third largest coffee retail chain in the UK. As digitization becomes mainstream in hospitality, Yoyo’s technology is a strong candidate for currently untapped market segments. As part of our engagement, METRO intends to contribute to this deployment,” says Hansjörg Sage, General Manager at the digital unit of METRO GROUP.
Yoyo gives retailers of any size a “branded mobile experience” to give their customers. At the same time, they can adjust their product range thanks to the number of Yoyo’s services. Every retailer can therefore create his own app, with their own chosen services or loyalty programs.
In a previous investment round, Yoyo attracted more than ten million euro. Currently, it has more than 400,000 registered visitors that can use Yoyo Wallet at more than 1,700 stores, including Caffé Nero and Planet Organic.
