PayStand, a Scotts Valley, California based blockchain-enabled commercial payments platform, announced it has landed new funding.
The fin-tech startup has secured $20 million from DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures and Wildcat Ventures, all new investors. Existing investors in this Series B funding round include BlueRun Ventures, Leap Global Partners and others participated as well.
The PayStand platform provides easier commercial transactions and payments that are as easy and fast for enterprises as Venmo has done for basic consumer-to-consumer transactions. The zero fee, subscription modeled solution for corporations and their finance teams digitizes the entire enterprise cash cycle, automates the end-to-end payment experience, and provides real-time, fund verified blockchain payment network capabilities.
PayStand plans to use its new funds to accelerate the expansion of its products and services, as well as expanding sales, marketing, success, and engineering teams in its Scotts Valley, California and Guadalajara, Mexico offices.