Paystand looks to acquire Yaydoo to form B2B Receivables, Payables, and Payments Network on a commercial blockchain
Paystand, a provider of blockchain-enabled accounts receivable and B2B payments, is acquiring Yaydoo, a provider of accounts payable, cash flow management, and liquidity solutions in Mexico and LATAM.
Both PayStand and Yaydoo offer a wide range of technology-enabled B2B solutions for automating transactions, payment, and bill collection processes.
The two companies have built AR/AP solutions designed for the needs of both U.S. and LATAM businesses of all sizes.
They have both created B2B DeFi payment networks in both the U.S. and Mexico and now set their sights on connecting their platforms through a single, open, instant and secure global payment network, according to the vendors.
"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,” said Jeremy Almond, CEO of PayStand. “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 organization creates high-return synergies including access to new markets, product offerings, distribution channels, and talent.
In the Americas, the combined company will have the capacity to expand from the U.S. to Canada, and from Mexico to Colombia, where Paystand's and Yaydoo's products can be distributed through existing channels and integration partners.
Currently, the companies have already integrated globally with Oracle NetSuite, Sage Intacct, Xero, and with CONTPAQi in Mexico.
For more information about this news, visit https://yaydoo.com.
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