Paystand Marks Its Fifth Year on Inc. 5000 with the Major Acquisition of Teampay and the Founding of Paystand.org
August 15 2024 - 5:32PM
Business Wire
More than 1 million payors now on Paystand
Network, and $10 billion in cumulative transactions highlight
accelerated growth as Paystand changes B2B payer behavior
Paystand, the blockchain-enabled B2B payments company that has
been making consistent waves in the DeFi sector since its founding
in 2013, has made the Inc. 5000 list for the fifth consecutive year
with a remarkable 380% growth rate over the past three years.
Paystand pushed through the increased stagnation experienced by the
fintech industry this last year with the acquisition of Teampay, an
industry-leading spend management software.
“When many in fintech are hitting the brakes, we're
accelerating. With Paystand’s network of more than 1 million
companies, we’re creating greater efficiency, deeper savings and
expanded opportunities for all businesses,” said Jeremy Almond,
Paystand co-founder and CEO. “And our greater vision of a unified
B2B payment network over DeFi isn't just a pipe dream, in fact with
roughly 2% of all account-to-account transactions there is a high
likelihood you or a business you’ve worked with has transacted on
our network whether you believe in blockchain or not!”
Over the past year, Paystand has expanded its ERP integrations.
It announced deep integrations and partnerships with Microsoft
Dynamics 365 Business Central and Acumatica. Additional
integrations with more than 10 other ERPs continue Paystand’s
strong and ongoing presence in the techstack of today’s CFOs and
marks aggressive expansion toward ERP-agnostic support. The recent
Teampay acquisition has delivered expense management automation to
the suite of financial services.
Paystand also celebrated the launch of Paystand.org, a nonprofit
initiative that addresses the financial inclusion gaps in today’s
economic landscape and is partnering with NGOs in underrepresented
areas.
“With 1.4 billion people currently locked out of the financial
system, the goal is clear: empower underrepresented communities,
particularly in Latin America, by advancing financial inclusion
through circular economies, Bitcoin, and blockchain technologies,”
said Alexandra Navarro, chief of staff and impact at PayStand and
head of Paystand.org.
Paystand.org is already making a tangible impact. By supporting
Mi Primer Bitcoin, Hope House, Digital NEST, MOTIV, and others, the
organization has reached more than 25,500 people across 11
countries, driving meaningful change in Central and South
America.
The commitment goes beyond financial support—Paystand is also
sending employees on paid fellowships to El Salvador, where they
contribute directly to these initiatives, underscoring the
dedication to making a real difference.
“This project holds a lot of personal significance to me,” said
Almond. “I want to set a new standard on what ethical stewardship
should look like in the fintech industry.”
Complete results of the Inc. 5000 list—including company
profiles and an interactive database that can be sorted by
industry, region, and other criteria—can be found at
www.inc.com/inc5000.
To learn more about Paystand, schedule a demo here.
About Paystand
Paystand is on a mission to create a more open commercial
finance system, starting with a zero-fee network for B2B payments.
Paystand is the largest B2B receivables, payables, and payments
network running on a commercial blockchain. The company makes it
possible to digitize receivables, automate processing, reduce
time-to-cash, eliminate transaction fees, and enable new revenue.
The AR/AP solutions are designed for both U.S. and LATAM businesses
of all sizes. The company recently acquired Teampay, an
industry-leading spend management software company. For more
information about Paystand, visit us at paystand.com. Follow our
blog, and connect with us on Twitter and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240815011046/en/
Media Contact: Erica Zeidenberg PR for Paystand Inc.
erica@hottomato.net 925-518-8159