The transaction will merge Paystand’s blockchain-based B2B payments platform with the vendor’s corporate expense and accounts payable (AP) management controls and was partly financed by Stifel Venture Banking, although further terms have not been disclosed.
This is projected to result in an expanded business offering for Paystand, furthering its remit in digital payments, lockbox services, and expense and direct deposit management tools, among other advances.
It marks the second acquisition for the UK-based paytech in the last two years after it previously snapped up the accounts payable and cashflow management fintech Yaydoo in 2022 to further the breadth of its blockchain-based solutions commercially.
