Paystand has attained 876% Growth over the last three years; being named to the Inc. list comes on the heels of Paystand’s acquisition of LATAM fintech Yaydoo, making it the fastest-growing DeFi fintech unicorn
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--For the third straight year, Paystand, the leader in blockchain-enabled accounts receivable and B2B payments, has been named to the Inc. 5000 list of fastest-growing companies. With a growth rate of 876% over three years, Paystand’s momentum has continued to accelerate with its acquisition of Yaydoo, the leader in accounts payable, cash flow management, and liquidity solutions in Mexico and LATAM. The new combined company has become 2022’s fastest-growing DeFi fintech unicorn.
“With $5 billion in B2B payments on-chain, we deliver the best-in-class AR/AP solutions to meet the needs of U.S. and LATAM-based businesses of all sizes,” said Jeremy Almond, CEO and co-founder of Paystand. “We are now one of the first global B2B DeFi platforms at significant scale with more than 500,000 connected businesses – the largest of any commercial B2B blockchain in the world.”
During this period of economic uncertainty and inflation, Paystand’s continuous, extraordinary growth is even more remarkable. With the Yaydoo acquisition, the new combined company can offer commercial, blockchain-based B2B solutions for automating transactions, payments, and bill collection processes throughout the Americas.
Paystand’s B2B payment network eliminates the paper-heavy processes still rampant in the payments industry, and is committed to delivering speed, security, and a zero-fee Payments-as-a-Service solution to significantly lower costs. With the addition of Yaydoo, the combined company has a team of over 400 employees and is focusing on connecting both platforms through a single, open, instant, and secure global payment network.
“Our DeFi-enabled B2B payment network can help CFOs with one of their most important challenges — faster time to cash,” Almond continued. “Paystand unlocks working capital efficiencies that can be transformative.”
Automation using Web3 technologies across AR, AP, expense, procurement, and payments in a unified platform offers huge cash advantages to enterprises, helping the U.S. B2B payment market to hit a projected CAGR of more than 8% over the next five years.
Complete results of the Inc. 5000 list – including company profiles and an interactive database that can be sorted by industry, region, and other criteria – can be found at www.inc.com/inc5000.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
To learn more about Paystand, schedule a demo here.
Paystand is on a mission to create an open and equitable commercial finance system, starting with a zero-fee network for B2B payments. Using blockchain and cloud technology, Paystand makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. Paystand achieved unicorn status in 2022 upon its acquisition of Yaydoo, and was named to the 2021 CB Insights Fintech 250 as one of the world's most promising privately held fintechs. For more information about Paystand, visit us at paystand.com. Follow our blog, and connect with us on Twitter and LinkedIn.
PR for Paystand Inc.