Yaydoo, a Mexican pioneer in blockchain-based B2B receivables and payments, has become the latest tech unicorn in LATAM, following a merger with Paystand to form a global network for B2B collections, payments, and transactions.
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Yaydoo is a platform formed in Mexico City by Sergio Almaguer, Roberto Flores, and Guillermo Treviño, currently operating in Mexico but intends to expand throughout the Americas thanks to its merger with the U.S. company PayStand.
This transaction allowed Yaydoo to obtain new investments, reaching a valuation of more than 1 billion dollars, making it a unicorn company. Both Paystand and Yaydoo offer a wide range of technology-based B2B solutions for automating transactions, payment processes, and invoice collection.
The fusion between both companies was achieved after almost 3 years of negotiations where Yaydoo and Paystand recognized the opportunities they would have in case of working together, however, it was until this August that the strength of both companies allowed them to join.
In this sense, Sergio Almaguer stated that the two companies will continue working with their own brand and will maintain their operations in both countries while he will continue as CEO of Yaydoo. However, the long-term plan is that, once full coverage is achieved in Mexico and the United States, both firms will begin a process of international expansion.
"Yaydoo will be focused on emerging markets and Paystand will be focused on developed markets; the first step will be for them to grow strongly in the United States and Canada, and for us to expand from Mexico to Colombia, Peru, and Chile. Mexico will continue to be the crown jewel of Latin America and it is not for nothing that all the foreign players are coming here," said Almaguer.
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