There are more and more companies in Mexico whose innovation and technological development attract the attention of investors, however, not all companies can access the main capitals and reach the value above 1,000 million dollars to become unicorns.
For this reason, businesses in Mexico have to look for other financing tools to reach the unicorn category, such is the case of Yaydoo, a pioneer in accounts receivable and B2B payments based on blockchain, which announced its new merger with Paystand to form a global network of collections, payments and B2B transactions.
This is Yaydoo, the new Mexican unicorn
Yaydoo is a platform formed in Mexico City by Sergio Almaguer, Roberto Flores and Guillermo Treviño, currently operates in Mexico but intends to expand throughout the American continent thanks to its merger with the American company PayStand.
This transaction allowed Yaydoo to obtain new investments, reaching a valuation of more than 1,000 million dollars, which makes it a unicorn company. Both Paystand and Yaydoo de recen a A wide range of B2B solutions based on technology for the automation of transactions, payment processes and invoice collection.
“This is one of the first unicorns created since a merger and what this does is bring together the businesses, the investors, and the transaction is also linked to an additional investment that is already valuing us above 1,000 million Dollars. Our convertibles into a new Latin American unicorn and the first to be created by two companies between the United States and Mexico”, said Sergio Almaguer, CEO and co-founder of Yaydoo.
Yaydoo will expand its operations in Mexico
The union between embassies will be modified after almost 3 years of negotiations where Yaydoo and Paystand recognize the opportunities they will have if they work together, however, it was until the present month of August where the solidity of both companies allows them to join.
In this sense, Sergio Almaguer clarified that the two companies will continue to work with their own brand and will maintain their operations in both countries I will continue as CEO of Yaydoo. However, the long-term plan is that, once full coverage was achieved in Mexico and the United States, both firms began 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 very strongly in the United States and Canada, and us from Mexico to Colombia, Peru and Chile. Mexico will continue to be the joy of the crown of Latin America and it is not for nothing that all the foreign players are coming hereAlmaguer said.
Only 5% of companies in Latin America are digitized
Currently the world economy is in total uncertainty, with inflation unseen in decades, however, Electronic commerce continues to grow in Latin America as it decreased an increase of 19.4%in which the Mexican market participated with 28.8%, in addition, Mexico has a growth rate of over 10% in electronic payments.
nevertheless, in Latin America less than 5% of companies are digitizedIt is because of this situation that Yaydoo and Paystand see the region as having significant growth potential and as a great area of opportunity.
“At Yaydoo and Paystand we have enabled B2B payment networks through the accounts receivable and payable software ecosystem we created. Now is the time to join forces and provide solutions that will simplify and digitize trade between the United States and Mexico, unlocking great opportunities to automate the financing of the supply lock, through imports and exports in one of the most active commercial corridors worldwide“, said Sergio Almaguer, CEO of Yaydoo.
The merger will result in 5,000 million dollars in dollars and will generate more than 300 jobs
According to Jeremy Almond, CEO of Paystand, the alliance between the two companies represents an area of opportunity for the region that will have one of the first global B2B blockchain platforms with a significant scale.
“The resulting company will process more than 5,000 million dollars in dollarstheir contract will have 300 employees and they have built a network of more than 500,000 connected companies, the mayor of all blockchains for business in the worldJeremy Almond said.
Finally Sergio Almaguer details that the first step of the alliance is connect mexico with the united statesnevertheless, the goal is to build a red total that connects the entire continent: “Connecting the United States and Mexico is only the first step. You understand very well that this country is subject to the payable and receivable solutions that allow B2B transactions at the local level. Now, we seek to forge long-term alliances with all these organizations that already know their market to build a network that encompasses and consolidates the entire continent.“.
Image: Yaydoo
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