Paystand, the fastest growing blockchain-enabled B2B payments platform, today announced record-setting growth of 1007% and 150 new enterprise customers. As companies look for ways to improve cash flow and operate more efficiently, Paystand’s software is helping unlock billions in economic value that is held up in overdue receivables and siphoned away by outdated AR processes and payment fees.

“This year illustrated that doing business ‘the old way’ is no longer economically viable. In fact, it’s a recipe for going out of business,” said Jeremy Almond, CEO and co-founder of Paystand. “Growing 1007% in today’s economy shows that businesses need a better way to manage payments and cash. Paystand gives businesses a faster way to transact, without the costly fees and extra steps. Our zero-fee payment network replaces the outdated, fee-based model and we’re excited that businesses are reaping the benefits when they need it most.”

Paystand Named to Top 10 of Inc. 5000 Fastest Growing Private Companies in Silicon Valley

With 1007% growth, Paystand ranked in the top 10 of all Silicon Valley companies featured in the 2020 Inc 5000 list. Companies that made the list, on average, grew 600% over the same three-year period. During a stretch when the economy grew just 15%, Paystand achieved record growth by enabling businesses to transact more efficiently and more cost-effectively.

“Every person we hire at Paystand knows this is about more than payment processing,” said Aliyah Nance, Paystand’s VP of People. “Rebuilding $125 trillion worth of broken finance infrastructure requires top talent. Being named on the Inc. 5000 makes it crystal clear that we’re designing the breakthrough technology and experiences our customers and the industry need. And yes, we’re hiring.”

Over the past 12 months, Paystand’s payment network has surged as businesses look for better ways to transact in the digital-first economy. Driven by a flat-rate, Payments-as-a-Service business model that creates a predictable cost structure for Accounts Receivable and delivers significant ROI for B2B customers, Paystand saw record growth across all areas of its business and payment ecosystem.

Source : Businesswire

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