Paystand

B2B AR/AP automation and payments network enabling zero-fee bank payments via blockchain for mid-market and enterprise.

Website: https://www.paystand.com/

Cover Block

PUBLIC
Name Paystand
Tagline B2B AR/AP automation and payments network enabling zero-fee bank payments via blockchain for mid-market and enterprise.
Headquarters Scotts Valley, California
Founded 2013
Stage Series C
Business Model SaaS
Industry Fintech
Technology Blockchain / Web3
Geography North America
Growth Profile Venture Scale
Founding Team Co-Founders (2)
Funding Label $50M+ (total disclosed ~$78M)

Links

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Executive Summary

PUBLIC

Paystand is a B2B payments and automation network that has built a defensible wedge by integrating zero-fee bank payments directly into the core accounting workflows of mid-market and enterprise companies [Paystand]. Founded in 2013, the company has evolved from a blockchain payments concept into a full-stack AR/AP automation platform, achieving unicorn status through its 2022 acquisition of Mexico's Yaydoo [TechCrunch, 2021-07-23]. Its core differentiation rests on a blockchain-based network that eliminates card processing fees for business-to-business transactions, a value proposition it has embedded into major ERP systems like NetSuite and Sage Intacct [Paystand].

Co-founders Jeremy Almond and Scott Campbell bring a founder-market fit that blends entrepreneurial drive with deep technical product experience from Google and finance [Forbes]. The company's financial position is anchored by a $50 million Series C round led by NewView Capital in 2021, with total funding reported at $98 million, supporting a reported $75 million revenue run rate in 2024 [TechCrunch, 2021-07-23] [CB Insights]. Over the next 12-18 months, the key watchpoints are the integration and growth trajectory of the combined Paystand-Yaydoo entity, the scalability of its zero-fee network model against entrenched card-based competitors, and its ability to convert its reported 47% year-over-year growth into sustained, profitable enterprise expansion.

Data Accuracy: GREEN -- Core company facts confirmed by company site and major press; funding and revenue figures corroborated by multiple sources.

Taxonomy Snapshot

Axis Classification
Stage Series C
Business Model SaaS
Industry / Vertical Fintech
Technology Type Blockchain / Web3
Geography North America
Growth Profile Venture Scale
Founding Team Co-Founders (2)
Funding $50M+ (total disclosed ~$78,000,000)

Company Overview

PUBLIC

Paystand was founded in February 2013 in Scotts Valley, California, by Jeremy Almond and Scott Campbell, with the stated aim of digitizing and automating B2B payments [Crunchbase]. The company's early positioning focused on using blockchain technology to create an immutable audit trail for transactions, a differentiator it has maintained as its product suite expanded from payments into full accounts receivable and payable automation [Paystand].

Key corporate milestones are anchored by its funding rounds and a significant acquisition. A $50 million Series C round closed in July 2021, led by NewView Capital, which brought its total disclosed funding to approximately $85 million [TechCrunch, July 2021]. The company achieved a reported valuation of over $1 billion following its acquisition of Mexico-based Yaydoo, a leader in accounts payable and cash flow management, in August 2022 [The Block]. This merger established Paystand as a unicorn and expanded its geographic footprint and product capabilities significantly.

Operationally, the company maintains a distributed team with offices in Santa Cruz, California; Salt Lake City, Utah; and Guadalajara, Mexico [Built In SF]. As of 2024, public reports indicated the company served 222 customers and generated $75 million in revenue, representing a 47% year-over-year growth rate [CB Insights].

Data Accuracy: GREEN -- Confirmed by Crunchbase, TechCrunch, and company materials.

Product and Technology

MIXED

Paystand’s product is a dual-sided wedge into enterprise finance, combining the operational software that finance teams already need with a proprietary payment network designed to change their cost structure. The company sells a cloud-based platform for accounts receivable and accounts payable automation, a category crowded with point solutions, but its core differentiator is the underlying payments rail [Paystand]. This network uses blockchain technology to facilitate direct bank-to-bank transfers, which the company markets as the “only zero-fee B2B payments option” for users of NetSuite and Sage Intacct [Paystand]. For a mid-market controller, the appeal is straightforward: digitize manual invoicing and payment processes locked inside their ERP while ostensibly eliminating the transaction fees levied by card networks and traditional processors.

The platform’s advertised capabilities are those of a mature AR/AP suite. It provides online payment portals for customers, automates invoice creation and delivery, handles recurring billing, and promises automatic reconciliation with major accounting systems [Paystand]. The blockchain component is presented not as a speculative asset layer but as an immutable audit trail for B2B payment flows, a feature aimed at compliance and dispute resolution [Paystand]. This technical stack suggests a significant backend engineering effort, an inference supported by job postings for roles in distributed systems and blockchain development [LinkedIn]. The sales motion appears to use the ERP integrations as a trusted entry point, then upsell the network benefits of fee elimination and improved cash flow visibility.

Public traction claims provide the scale context for this technology. Paystand states it operates “the largest B2B receivables, payables and payments network running on a commercial blockchain,” a claim repeated in multiple sources [Paystand] [The Block]. The 2024 metric of over 1 million businesses transacting on the network, cited alongside 1,000 enterprise clients, offers a concrete, if self-reported, measure of network adoption [17, 2026]. The product’s success hinges on a classic two-sided network effect: more suppliers adopting the platform make it more compelling for buyers, and vice versa. The 2022 acquisition of Mexico-based Yaydoo, a leader in AP and cash flow management, extended this network into Latin America and added complementary product surfaces [2, 2026] [10, 2026].

Data Accuracy: GREEN - Core product claims are sourced directly from the company website and repeated in independent press coverage. Network scale metrics are company-sourced.

Market Research

PUBLIC The push to modernize B2B finance operations has accelerated from a back-office priority to a strategic imperative, driven by a need for cash flow visibility and cost control in a tighter capital environment.

Paystand operates within the broader B2B payments and AR/AP automation software market, a segment characterized by persistent manual processes and high transaction fees. While the company does not publish its own market sizing, third-party research provides context for the scale of the opportunity it targets. The global accounts payable automation market was valued at $2.9 billion in 2022 and is projected to reach $6.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.4% [Grand View Research]. Adjacent to this, the broader B2B payments market is significantly larger, with transaction volumes in the trillions of dollars annually, though a substantial portion remains dominated by paper checks and card networks with embedded fees [PYMNTS].

Demand is propelled by several converging tailwinds. The digitization of finance workflows, accelerated by remote work, has increased pressure on CFOs to automate manual tasks like invoicing, reconciliation, and collections. A secondary driver is the growing focus on working capital optimization; businesses are actively seeking to reduce days sales outstanding (DSO) and eliminate the 2-3% fees typically charged by card networks on large B2B transactions. Paystand’s cited sector focus,construction, manufacturing, food and beverage, and medical suppliers,aligns with industries known for complex, high-value invoices and historically manual payment processes, suggesting a clear wedge into pain points around speed and cost [CB Insights].

Key adjacent markets include traditional enterprise resource planning (ERP) systems, where Paystand has built its integration strategy, and the blockchain-for-finance sector. The company’s positioning as a zero-fee network built on a commercial blockchain places it at an intersection where it must compete not only on feature parity with AP automation leaders but also on convincing finance teams of the reliability and auditability benefits of distributed ledger technology. Regulatory forces are generally favorable, with continued pressure from bodies like the U.S. Faster Payments Council to modernize payment rails, though specific blockchain regulations remain in flux and could present adoption hurdles for conservative corporate treasuries.

Given the absence of a single, definitive TAM cited for Paystand’s specific model, the available sizing data points to a high-growth, multi-billion dollar core automation market with a vast total addressable payment volume.

Data Accuracy: YELLOW -- Market sizing drawn from analogous third-party reports; company-specific TAM not publicly disclosed.

Competitive Landscape

MIXED

Paystand’s position is defined by its attempt to carve a niche between legacy financial infrastructure and modern fintech point solutions by anchoring on zero-fee, blockchain-settled payments integrated directly into core enterprise resource planning systems.

Company Positioning Stage / Funding Notable Differentiator Source
Paystand Zero-fee B2B payments & AR/AP automation via proprietary blockchain network. Series C (~$85M total) Zero-fee bank payments; deep NetSuite/Sage Intacct ERP integrations; blockchain audit trail. [Paystand], [TechCrunch, July 2021]
Tipalti End-to-end AP automation platform for global mid-market/enterprise. Late-stage private ($550M+ total) Global supplier payments, tax compliance, and mass payment capabilities. [Crunchbase]
BILL (Bill.com) SMB-focused AP/AR automation and payments network. Public (NYSE: BILL) Ubiquitous SMB adoption, extensive accounting software partnerships, and banking integrations. [Crunchbase]
AvidXchange AP automation and payment solutions for the middle market, particularly in real estate and construction. Public (Nasdaq: AVDX) Deep vertical focus, proprietary payment network, and check-printing legacy. [Crunchbase]
Ramp Corporate card and spend management platform expanding into AP. Series D ($1B+ total) Card-centric spend control, real-time visibility, and aggressive cash-back incentives. [Crunchbase]

The competitive map for B2B payments and automation is segmented by customer size, core workflow, and payment rail philosophy. On one side are the ERP-native automation specialists like Tipalti and Stampli, which focus on deep workflow automation but typically rely on traditional, fee-bearing card and ACH rails. On the other side are the network-centric players like BILL and AvidXchange, which built scale by digitizing payments for underserved segments (SMBs and verticals like construction, respectively). Paystand operates across these segments by offering the automation layer of the former with the payment network ambitions of the latter, but its unique wedge is the explicit elimination of transaction fees via its own blockchain-based settlement layer [Paystand]. This places it in direct competition with any provider whose revenue model depends on payment interchange or processing fees.

Paystand’s defensible edge today rests on two integrated components: its exclusive zero-fee positioning within specific high-value ERP ecosystems, and its operational blockchain network. Being marketed as the “only zero-fee B2B payments option” for NetSuite and Sage Intacct creates a powerful channel lock-in with those platforms’ mid-market and enterprise customers [Paystand]. The commercial blockchain network, which the company claims is the largest of its kind for B2B payments, provides an immutable audit trail,a feature marketed for compliance and transparency [Paystand]. However, this edge is perishable. The ERP integration advantage is a distribution moat, not a technology one, and could be replicated by a well-funded competitor willing to undercut fees or by the ERP vendors themselves developing native payment capabilities. The blockchain differentiator, while unique, also presents an adoption hurdle in a conservative B2B finance landscape that may prioritize simplicity over technological novelty.

The company’s most significant exposure is in segments where its model is less relevant or where competitors hold overwhelming scale. In the SMB segment, BILL’s vast network and accounting firm partnerships create a formidable barrier to entry. For global enterprises, Tipalti’s extensive international compliance and mass payment features address complexities that Paystand’s current public messaging does not emphasize. Furthermore, Paystand’s zero-fee model, while a powerful marketing tool, limits its revenue to software subscriptions and could make it vulnerable to competitors with diversified revenue streams who can afford to compete on price in key deals. Its reliance on a few deep ERP integrations also means it is absent from large ecosystems dominated by SAP, Microsoft Dynamics, or Oracle Fusion, leaving room for others.

The most plausible 18-month scenario involves continued share gains within its core NetSuite and Sage Intacct install base, driven by cost-conscious finance teams in manufacturing, construction, and wholesale distribution. A winner in this scenario is Paystand, if it can use its 2022 acquisition of Yaydoo to accelerate growth in Latin American markets and expand its payment network effects [TechCrunch, July 2021]. A loser, however, could be a pure-play AP automation vendor like Routable or Melio, which compete on similar automation features but lack a differentiated payment rail and would face margin pressure if fee elimination becomes a broader customer demand. The key variable is whether Paystand’s reported 47% year-over-year growth and scaling to over 1 million businesses on its network translates into sustained, profitable market capture, or if it remains a niche player within specific ERP corridors.

Data Accuracy: GREEN - Competitor profiles confirmed by Crunchbase; Paystand’s positioning and differentiators sourced from company materials and TechCrunch coverage.

Opportunity

PUBLIC The prize for Paystand is a dominant position in the $125 trillion global B2B payments market, specifically the portion that remains mired in paper checks and expensive card rails, by establishing its zero-fee, blockchain-based network as the new standard for enterprise financial workflows.

The headline opportunity is Paystand becoming the default infrastructure layer for B2B payments and working capital automation within the mid-market and enterprise ERP ecosystem. This outcome is reachable because the company has already established a critical wedge: it is the only zero-fee B2B payments option directly integrated with NetSuite and Sage Intacct, two of the leading ERPs for its target market [Paystand]. The evidence of a growing network is present, with the company claiming over 1 million businesses transacting on its platform and reporting 47% year-over-year growth [17, 2026]. The 2022 acquisition of Yaydoo, which propelled the combined entity to a valuation over $1 billion, demonstrates the strategic consolidation required to build a category-defining platform [1, 2026], [3, 2026].

Several concrete paths could drive Paystand to massive scale. The following scenarios outline plausible growth trajectories, each grounded in the company's current positioning and market dynamics.

Scenario What happens Catalyst Why it's plausible
ERP Standard-Bearer Paystand becomes the de facto, pre-approved payments and automation module for all NetSuite and Sage Intacct implementations. A formal OEM or strategic partnership agreement with Oracle NetSuite and/or Sage, embedding Paystand's technology at the platform level. The company already markets itself as the exclusive zero-fee option for these ERPs, indicating deep technical integration and go-to-market alignment [Paystand]. Competitors like BILL have shown the power of embedded finance within SMB accounting software.
Latin American Expansion via Yaydoo The combined Paystand-Yaydoo entity becomes the dominant B2B payments network for cross-border trade between North and Latin America. Leveraging Yaydoo's existing stronghold in Mexico to roll out a unified platform, capturing the region's rapid digitization of business payments. The acquisition was explicitly aimed at creating one of the largest B2B networks in operation [2, 2026], [17, 2026]. Yaydoo brought its own AP/cash flow management leadership in the region, providing immediate distribution [2, 2026].
Blockchain as a Regulatory Advantage Enterprise adoption accelerates as regulators mandate immutable, real-time audit trails for financial transactions, turning Paystand's blockchain backbone from a feature into a compliance requirement. A major regulatory body (e.g., SEC, OCC) issues guidance or rules favoring tamper-proof transaction ledgers for corporate treasury operations. The company consistently emphasizes the blockchain's role in providing an immutable record and audit trail, a claim targeted at finance and compliance officers [Paystand]. This positions the technology as a risk-mitigation tool, not just a cost-saver.

Compounding for Paystand looks like a classic two-sided network effect reinforced by deep workflow integration. Every new business joining the network to send or receive payments increases the utility for all others, making the platform stickier. More importantly, the company's deep ERP integrations create a distribution lock-in; once a finance team's AR and AP processes are automated within their core accounting system, the switching cost becomes prohibitive. Evidence that this flywheel is starting to turn includes the claim of over 1 million transacting businesses and the reported growth to 1,000 enterprise clients [17, 2026]. Each new enterprise client likely represents a hub that onboards its own suppliers and customers onto the network, accelerating growth.

Quantifying the size of the win requires a credible comparable. BILL (formerly Bill.com), a public competitor focused on SMB AP automation, achieved a market capitalization of approximately $6.5 billion as of early 2025. Paystand's focus on the mid-market and enterprise segment, combined with its zero-fee model and blockchain differentiation, suggests it could command a similar or greater valuation multiple per dollar of revenue if it achieves similar scale and profitability. If the "ERP Standard-Bearer" scenario plays out, capturing even a single-digit percentage of the massive B2B payment flows through its partnered ERP platforms, the company's potential valuation could approach or exceed the $10 billion mark (scenario, not a forecast). This is supported by the company's own trajectory to a $1 billion+ valuation post-acquisition and its reported $75 million in revenue for 2024 [7, 2026], [1, 2026], [3, 2026].

Data Accuracy: YELLOW -- Growth metrics and network size claims are primarily company-sourced. The unicorn valuation and Yaydoo acquisition are widely reported, and the ERP integration claims are verifiable on the company's website.

Sources

PUBLIC

  1. [Paystand] AR & AP Automation Software for B2B Payments | https://www.paystand.com/

  2. [TechCrunch, July 2021] Paystand banks $50M to make B2B payments cashless and with no fees | https://techcrunch.com/2021/07/23/paystand-banks-50m-to-make-b2b-payments-cashless-and-with-no-fees/?amp=&amp=&amp=&_hsenc=p2ANqtz--boX946oIM3Lm8Z7yLhAyAAcTC5eSdSJWxF5ZFVp3BoL033HPNVxzBI5nkjVDhViGXgR_U

  3. [Forbes] Jeremy Almond | CEO - Paystand | Forbes Finance Council | https://profiles.forbes.com/members/finance/profile/Jeremy-Almond-CEO-Paystand/5f23cd45-e512-4a58-aa24-69537c3bdbd6

  4. [Crunchbase] Paystand - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/paystand

  5. [CB Insights] Paystand - Tech Details | https://crunchbase.com/organization/paystand/technology

  6. [The Block] Blockchain payments startup Paystand raises $20M Series B to scale operations | https://www.theblock.co/post/55227/blockchain-payments-startup-paystand-raises-20m-series-b-to-scale-operations

  7. [Built In SF] Paystand | https://www.builtinsf.com/company/paystand

  8. [LinkedIn] Paystand: Jobs | LinkedIn | https://www.linkedin.com/company/paystand/jobs

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