Yaydoo and Paystand have announced a merger to form the world’s largest global network of B2B collections, payments, and transactions on a blockchain platform. This deal forms a new B2B Fintech unicorn for Latin America.
The combined company will move to a unified accounts payable, accounts receivable, and payments platform that will optimize the flow of working capital for U.S. and Latin American companies.
Paystand offers a commission-free network for B2B payments. Through the use of blockchain and cloud technology, Paystand makes it possible to digitize receivables, automate processing, reduce collection time, eliminate transaction fees and generate new revenue.
Yaydoo is a leading fintech in accounts payable, cash flow management, and liquidity solutions in Mexico and Latin America. The company creates and distributes financial automation technologies that helps companies streamline their B2B payments using software focused on business procurement, expense management, accounts payable and accounts receivable.
This deal represents one of the largest technology transactions in the region and will make blockchain-based commerce solutions more accessible throughout the Americas.
Jeremy Almond, CEO of Paystand, shared some insights on this deal:
“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 more than $5 billion in payments, added 300 more employees, and built a network of more than 500,000 connected companies, the largest of any blockchain for business in the world.”
The combined company will create high-return synergies, such as an expansion into new markets, diversification of its product portfolio, access to distribution channels and talent. Paystand and Yaydoo’s products will be distributed through existing channels and integration partners. Also, this new company could be on track for an IPO within the next 2 years.