Paystand has acquired Yaydoo, a Mexican company that specialises in accounts payable, cash flow management and liquidity solutions across Mexico and Latin America.
According to Paystand, the deal represents one of the biggest technology unions in Mexico and Latin America and makes commercial blockchain-based solutions more accessible across the Americas.
Paystand said, “In the midst of economic uncertainty, the fusion of the two firms opens a horizon of hope and opportunity, not only for other tech startups but also for Latin American businesses. Both PayStand and Yaydoo offer a wide range of technology-enabled B2B solutions for automating transactions, payment, and bill collection processes.”
The two businesses both have built best-in-class AR/AP solutions designed for the needs of both US and LatAm businesses of all sizes.
Paystand added that the combination of the two firms creates ‘high-return synergies’ including access to new markets, product offerings, distribution channels and talent. In the Americas, the combined firm will have the capacity to expand from the US to Canada and from Mexico to Columbia, where the two firm’s products can be distributed through existing channels and integration partners.
The company detailed, “There is a significant market opportunity in front of Paystand and Yaydoo. With its scale the combined company could be on a path to an IPO in the next two years, re-opening IPO capital access to the tech sector that is struggling in a recession-prone environment.”
PayStand CEO Jeremy Almond said, “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.
“DeFi-enabled B2B payment networks that are on-chain can unlock transformative working capital efficiencies and make financial services more fair and open, especially in developing markets like LATAM. And we believe this industry disruption across borders and using DeFi blockchain can shift the balance of power from traditional financial institutions and governments to buyers, and sellers, benefitting business and society.”
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