Paystand, a US blockchain-enabled B2B payments firm, bought Mexican accounts payable startup Yaydoo, Axios reported.
No deal terms were disclosed. The companies did not immediately return requests for comment.
Paystand operates in the US and Canada, while Yaydoo is focused on Spanish-speaking Latin America, including Colombia, Peru and Chile. Combined, the companies serve 500,000 customers, and have processed more than $5 billion in payment volume.
The companies will continue to operate independently, but will cross-sell products.
In July 2021, Paystand raised $50 million in a Series C round, bringing its total funding to $85 million from NewView Capital, with participation from SoftBank’s SB Opportunity Fund and King River Capital, according to TechCrunch. Yaydoo raised a $20 million Series A round in August 2021 co-led by Base10 Partners and monashees, alongside SoftBank’s Latin America Fund and Leap Global Partners.
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