Partech Ventures, a venture capital firm investing in Europe, the United States, Africa and Asia, has led a Series B round totaling US$16 million for South Africa-based point-of-sale payments company Yoco. Other investors in the round include Dutch development finance institution FMO, corporate venture capital firm Orange Digital Ventures, fintech-focused family office Velocity Capital and the Quona Capital-managed Accion Frontier Inclusion Fund. Yoco, which develops credit card payment tools for small businesses, intends to use the funding to expand its merchant network, invest in product development and grow its team.