Paystand Raises $50M Series C To Build The Future Of Commercial Finance
07/23/21, 1:09 PM
Location
Money raised
$50 million
Round Type
series c
Paystand, the blockchain-enabled payment network for business, today announced its $50 million Series C round of funding led by NewView Capital with participation from SoftBank’s Opportunity Fund, King River Capital, Industrious Ventures, and Transform Capital. This new round nearly doubles the funding Paystand raised in prior rounds and reflects the company’s triple-digit growth as it leads the movement for an open commercial finance system. Paystand will use this new capital to invest in redefining B2B payments to accelerate the shift to a more business-centric payment infrastructure. With the funding, Jazmin Medina of NewView Capital will join the board.
Company Info
Location
scotts valley, california, united states
Additional Info
Paystand is on a mission to create an open commercial finance system, starting with B2B payments. Using blockchain and cloud technology, the company has pioneered Payments-as-a-Service to automate the entire enterprise cash cycle. Paystand makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. Today, over 250,000 businesses make better payments over the Paystand Bank Network, and the company has been consistently recognized as a top innovator in enterprise financial services. In 2020, Paystand was named to the Inc. 5000 list as the #9 fastest-growing privately held company in Silicon Valley. For more information about Paystand, visit us at paystand.com. Follow our blog, and connect with us on Twitter and LinkedIn.