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Blockchain-enabled B2B payments company Paystand acquires Mexican startup Yaydoo



Time:8/3/2022 2:54:38 AM

[Blockchain-enabled B2B payment company Paystand acquires Mexican start-up company Yaydoo] According to Jinse Finance, the US-based blockchain-enabled B2B payment company Paystand has acquired Mexican payment startup Yaydoo. The terms of the transaction were not disclosed. Paystand operates in the US and Canada, while Yaydoo focuses on Latin America, including Colombia, Peru and Chile. Together, the two companies serve 500,000 customers and process more than $5 billion in payment volume. Following the acquisition, the two companies will continue to operate independently but will cross-sell products.

According to previous reports, in July 2021, Paystand raised US$50 million in Series C financing, with SoftBank’s SB Opportunity Fund and King River Capital participating. Yaydoo completed a US$20 million Series A financing in August 2021, co-led by Base10 Partners and monashees, as well as SoftBank Latin America Fund and Leap Global Partners.

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"Regulations on Local Finance in Hubei Province": Support the application of emerging technologies such as blockchain in the fields of financial services and supervision and management: On August 25th, the General Office of the People's Government of Hubei Province issued a notice on the implementation of the "Regulations on Local Finance in Hubei Province" The main measures include taking measures to promote financial innovation, supporting the application of blockchain and other emerging technologies in the fields of financial services and supervision and management, establishing financial innovation incentives and protection mechanisms, and promoting compliance innovation of financial technology products, services and business models. (Hubei Provincial People's Government Portal) [2021/8/25 22:35:47]

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