With this deal, a B2B payments powerhouse is established, with the ongoing objective of revolutionizing payments through the expansion of the largest, fastest, and most economical B2B payments network.

With this acquisition, Paystand is taking the next step toward realizing its goal of creating an industry-wide decentralized finance (DeFi) network—previously thought to be unattainable—that can connect suppliers and customers on a large scale. This accomplishment marks the conclusion of several years of payment innovation, along with alliances with NetSuite, Sage, and Microsoft Dynamics 365 Business Central, as well as the acquisition of the payment platform Yaydoo in 2022. Deloitte, Juniper Research, Inc. Magazine, and most recently the FT 500 List of Fastest Growing Companies in the Americas have all acknowledged the business and platform.

CFOs are empowered by the unified Paystand platform to encourage lucrative employee, vendor, and consumer behavior. With its blockchain-based smart payments platform, Paystand helps finance departments cut down on deferred payments (DSO), automate accounts receivable (AR), and do away with transaction fees. Teampay has the advantage of automating corporate cost controls and accounting, hence removing inefficiencies. CFOs will benefit from the merged company's faster revenue growth and larger payment savings, which will directly contribute to profitability.

The purchase of Teampay occurs during a period of reduced fintech activity. According to Crunchbase, the IT sector as a whole fired 191,000 employees last year and 32,500 so far this year. In the meantime, the top tech firms are combining a wider range of services for their clients and increasing their market share.

The largest B2B payment network operating on a commercial blockchain will reach more than 1 million business participants with the addition of Teampay's network of 250,000 companies to Paystand's network of over 800,000 companies with $10 billion in transactions, or more than 1% of all U.S. account-to-account business payments. The acquisition's terms were not made public.

"This acquisition comes with a bang in a quiet fintech climate," said Paystand CEO Jeremy Almond. With this, the core of the conventional finance technology stack is further integrated with zero-fee blockchain payment technology. Paystand can improve Teampay's outstanding expenditure and AP management skills by utilizing its blockchain architecture. The outcome will be revolutionary: a genuinely cutting-edge, intelligent B2B payment network at scale that revolutionizes the CFO's office and significantly improves business economics."

A portion of the funding for the deal came from Stifel Venture Banking. Stifel's managing director, Josh Dorsey, highlighted the wide-ranging prospects for expansion in the B2B fintech industry. "The integration of Teampay into the Paystand ecosystem presents a compelling narrative for businesses aiming to adopt digital-first financial tools that enhance capital efficiency," said Dorsey. This transaction is significant for the B2B payments sector as a whole, as well as for Paystand and Teampay. We are ecstatic to accompany and participate in this life-changing adventure.

Even if the fintech sector was quite popular a few years ago, a lot of those startups were still based on legacy bank services, which serve just to conceal the outdated payment infrastructure that costs companies a lot of money in fees, middlemen, and delays. By combining Paystand's expertise in cash management and payments with Teampay's cutting-edge approach to expense and AP management, this special combination will use blockchain technology to get around current payment barriers.

"To realize our vision of a truly decentralized financial system, it is key that we not only are able to facilitate receiving payments but impact the payable side of those transactions as well," Almond stated. "In time, we are helping our users, and the industry as a whole, to lessen reliance on antiquated money movement methods."

With a complete approach that will improve cash flow, streamline financial processes, and deliver insightful data to promote business growth and profitability, Paystand is now prepared to provide organizations with a full array of solutions. The suite facilitates: 
Electronic payments
A/R automation,
AP management, 
cash management, 
expense management, 
smart lockbox services, and 
direct deposit management

"We are well on our way to a DeFi revolution – and it's already happening without you realizing it," Almond said. "You're already a participant because if you do business in the U.S., you have likely worked with a company that makes transactions on the Paystand/Teampay combined network."