(Duplicated) Ethereum-based B2B Payments Firm Paystand Acquires Mexican Peer Yaydoo

Cloud-based billing and payment platform for B2B companies Paystand Announces Acquisition of Mexican Accounts Payable Company Yaydoo.

Yaydoo is a procurement platform that streamlines business purchasing using a cloud-based e-procurement software and AI.

Paystand is on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, they pioneered Payments-as-a-Service to digitize and automate the entire cash lifecycle.

The platform allows companies to make zero-fee payments using the Ethereum blockchain and cloud technology.

Paystand has raised a total of $98.3M in funding over 13 rounds. Their latest funding was raised on Jul 23, 2021 from a Series C round led by NewView Capital, which raised $50M.

Jeremy Almond, CEO of PayStand, comments: "Together, PayStand and Yaydoo will redefine the boundaries of B2B fintech across the continent. The combined company will be one of the first global B2B blockchain platforms at a significant scale. The resulting company will have processed over $5 billion in payments, added 300 additional employees, and built a network of over 500,000 connected businesses, the largest of any commercial B2B blockchains in the world.”

The combined company will have the ability to expand from the U.S. to Canada, Mexico Colombia and beyond.

The company said it will now connect the U.S. and Mexico first, and then target Latin America.

Officials also said the combined company could be on the path to an initial public offering (“IPO”) within the next two years