B2B Payments Startup Paystand Acquires Mexican Peer Yaydoo

While the companies will operate independently, there is hope for cross-selling opportunities.

Aug 3, 2022 at 1:07 p.m. UTC

Updated Aug 3, 2022 at 3:04 p.m. UTC

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

Follow @andresengler on Twitter

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.

Read more about

Business Payments Network Ethereum

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.