The Charlotte, North Carolina-based fintech unicorn had already raised $378 million this year across two tranches of a Series F funding round, in addition to another $8 million in May. Securities and Exchange Commission (SEC). Meanwhile, on the East Coast, an already well-funded B2B payments company AvidXchange quietly raised an additional $118.9 million in equity, according to a filing with the U.S. In fact, it’s a recipe for going out of business,” said Paystand CEO and co-founder Jeremy Almond. “This year illustrated that doing business ‘the old way’ is no longer economically viable. Paystand operates its commercial payments platform under a Payment-as-a-Service model.Īlso, over the past 12 months, Paystand launched what it described as the industry’s first no-fee corporate card to help businesses “further accelerate the shift to digital-first payments.” It also released AR automation capabilities for NetSuite, Xero and Magento, as well as collections automation in an effort to make invoicing, payments, and reconciliation “a seamless, intuitive” process through the Paystand dashboard or any ERP. Revenue is up two and a half times year over year as well, the company said. The startup said it’s also seen the number of businesses paying through its “zero transaction fee” network jump by 40% to 140,000 compared to this same time last year. This morning, Scotts Valley, Calif.-based Paystand, a blockchain-enabled B2B payments platform, revealed that it’s seen 200% year-over-year monthly payment volume. Meanwhile, other companies continue to raise funding. Startups and enterprise players in the segment are adding to their offerings, while at the same time seeing more interest in their existing services. But now mass adoption of digitizing finances – fueled largely by the COVID-19 pandemic – is only driving demand in the sector. The B2B payments space has been hot for a while.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |