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Paystand
B2B payments platform
- 101-200 employees
- Fintech
- B2B
- Banking
- Payments
- Financial Services
- 1800 Green Hills Road, Scotts Valley, CA 95066
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Company mission
To eliminate fees, digitize the cash cycle, and create a self-driving money experience for businesses.
95% employee growth in 12 months
Otta's take
Theo Margolius
COO of Otta
Whilst payment processing fees may not be considerable for consumers purchasing low value items, they can quickly stack up for businesses making significant purchases. Paystand provides businesses with a straightforward way of paying other companies without any transaction fees. Aiming to revolutionize commercial banking for the digital age, the company considers itself a pioneer of PaaS (payments as a service).
Similar to instant payment providers such as Venmo, which offer individuals a way to pay one another instantly, the service charges businesses a monthly fee for access to a system powered by blockchain technology. It's estimated that the B2B payment industry is worth more than $125 trillion and is yet untapped from a digital transformation perspective. The company has attracted enterprise-level customers across healthcare, insurance, hospitality, and the energy sectors.
In a shrewd move, Paystand has brokered a partnership with online accounting service Sage, allowing business customers to access its payment solutions from within their existing systems. The service uptake has been strong, especially for businesses operating internationally and looking to save on banking costs. Exemplifying this in 2023, Paystand was listed on the Deloitte Technology Fast 500 List of fast-growing US companies.
Benefits
- Base Salary + Commission
- 401k (5% match)
- Stock Options + competitive equity in a high growth-stage startup
- Flexible and Generous PTO (vacations)
- Untaxed monthly medical stipend
- Opportunity for advancement & growth in a rapidly expanding team
- Mentorship, learning & education programs
- Smart, motivated team that likes to have fun
- Mission-driven culture, where your work matters
Funding (last 2 of 4 rounds)
Jul 2021
$50m
SERIES C
Feb 2020
$20m
SERIES B
$78m
Total funding
This company has top investors
Founders
Jeremy Almond
(CEO)Having worked as a Veeco Enterprise Architect for 5 years, they worked as a Consultant for several companies and co-founded Flight Search Engine. They co-founded Paystand in September 2013, serving since as CEO alongside Advisory roles and a being a Forbes Council Member.
Scott Campbell
(Head of Solutions & Services)They started their career as a Morgan Stanley UI Designer before serving as an Engineer at Viacom, UFT WF, and Google for a combined 3 years. They co-founded SocialGuides in 2009 before starting Paystand with Jeremy.
Jobs (5)
People, HR, Recruitment