Swiss startups find new markets

Fintech startup Yokoy specialising in spend management has entered the Spanish market. Its new office in Madrid has a local team running it to serve customers. Lambda Health won its first customer in the Middle East while Quitt and Farmy seek to grow their presence in Germany.

Yokoy’s all-in-one spend management platform uses artificial intelligence (AI) to automate companies’ business spending. By automatically reading out invoices and expense receipts, the solution reduces manual and repetitive tasks, potential errors, and, eventually, finance team costs. In addition, our corporate card solutions allow companies to manage card transactions even more effortlessly. The consolidation of all corporate spending activities in one platform enhances control and transparency about a company’s costs, which eventually supports making strategic decisions based on liquidity and cash flow. After Vienna (Austria), Munich (Germany) and Amsterdam (Netherlands), Yokoy has set ambitious targets to increase its presence in the southern European market over the coming months. The expansion into Spain set the company on a new trajectory. The startup has opened a new office with a local team to cater to Spanish customers.

Lambda Health installs the first device in the United Arab Emirates
Founded as a spin-off from the University of Applied Sciences of Western Switzerland, Lambda Health Systems develops next-generation medical equipment based on patented technology to facilitate the rehabilitation of the locomotor system. Its first product for lower limbs relies on an innovative robotic structure and is intended for patients with neurological disease. The company has installed its device in Sharjah Social Service Department (United Arab Emirates) as part of its partnership with MPC Healthcare. The first patients in the Middle East will soon be able to benefit from the versatile training options and exercises to get the best possible outcome on their long road to recovery.

Quitt to start registering private domestic workers in Germany  
As of November, quitt, the leading Swiss platform for registering and managing domestic help for private individuals, will start offering its services in Germany. Since 2011, quitt’s digital service has been taking over the employment relationships administration for private workers to prevent illegal and unfair treatment of domestic workers. Private undeclared work is widespread in Germany – out of about 3.3 million domestic helpers in Germany, only 0.4 million are registered with the authorities. The other 88% work illegally, have no insurance coverage and have no paid social security contributions. This is what quitt counteracts. Service Hunter AG, the company behind the service has set up its first office in Munich, with three employees.

Farmy makes farm-goods delivery in Germany possible
Building on its success in Switzerland, where it has more than 5000 products in its assortment and over 400 farmers helping it bring fresh produce to customers, the Zurich-based startup has set foot in the German market. The company has partnered with Alnatura Germany, the retail store for organic and sustainable products with over 143 shops and 1.1 billion in revenue. As part of the recently initiated pilot project, Alnatura will use the Farmy backend and frontend solutions to roll out their online operations, starting in Berlin.