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B2B Payments Startup Paystand Acquires Mexican Peer Yaydoo
While the companies will operate independently, there is hope for cross-selling opportunities.
Paystand, a U.S.-based company that uses the Ethereum blockchain to enable business-to-business payments, has acquired Yaydoo, a Mexico-based accounts-payable company.
- Both companies will continue to operate independently, but there are opportunities to cross-sell each product in different markets, Axios reported on Tuesday. Paystand operates in the U.S. and Canada, while Yaydoo does business in Mexico, Colombia, Peru and Chile.
- In July 2021, Paystand raised $50 million in a Series C funding round led by NewView Capital – and including SoftBank’s SB Opportunity Fund as a participant. Yaydoo raised $20 million in a Series A round in August.
- Paystand has its own bank network that allows companies to make zero fee payments using the Ethereum blockchain and cloud technology.
- Yaydoo offers three products – Vendorplace, P-Card and PorCobrar – focused on business-to-business transactions.
Andrés Engler
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He follows the regional scene of startups, funds and corporations. His work has been featured in La Nación newspaper and Monocle magazine, among other media. He graduated from the Catholic University of Argentina. He holds BTC.
