Yaydoo, a Mexican fintech centered on B2B funds, not too long ago introduced the acquisition of the funds platform Oyster Monetary.
This acquisition consolidates Yaydoo’s place as the most important supplier of fee options within the Latin American B2B market.
The acquisition comes as a catalyst for the potential of each corporations’ options, facilitating integration with their completely different monetary methods.
The union of the 2 corporations’ applied sciences will allow the growth of fee and assortment companies by varied main monetary administration packages, resembling CONTPAQi – all by Yaydoo’s centralized platform.
Vilash Poovala, CEO of Oyster Monetary, who beforehand served as Clip’s CTO, will grow to be Yaydoo’s Chief Know-how Officer.
Associated:
A extra solidified B2B funds ecosystem in LatAm
“This acquisition solidifies our management in enterprise funds and accelerates our development, enabling tens of 1000’s of corporations to gather and pay by the software program they already use to function their enterprise,” mentioned Sergio Almaguer, CEO, and co-founder of Yaydoo, in an announcement. “We’re satisfied that Oyster’s know-how and Vilash’s experience will enable us to scale our options to attain the impression we’re on the lookout for all through the Americas.”
Oyster Monetary was based in 2018 by Vilash Poovala and Gabriel Leon to offer corporations with the perfect technological instruments to attain development. Since then, Oyster has provided Mexican small and medium-sized companies the flexibility to gather and obtain funds in 24 hours and bought 67,000 prospects in simply two years.
Final yr, Oyster launched its fee hyperlink product that enables companies to have an answer that may be built-in with different administrative and accounting software program instruments. This can allow corporations to automate all buyer relationship administration (CRM), enterprise useful resource planning (ERP), stock monitoring, logistics, and accounting methods.
Different avenues for funding
“We’re excited to be a part of this nice imaginative and prescient for development and look ahead to utilizing the mixed options to assist small and medium-sized companies get the perfect in monetary companies, which is able to profit the entrepreneurial ecosystem, demonstrating that there are various avenues for funding,” mentioned Vilash Poovala, CEO of Oyster. “By merging with Yaydoo, we can concentrate on focusing on platforms that already present companies to many of those corporations which can be a part of our core market section.”
Oyster Monetary’s know-how has a funds structure designed to scale exponentially all through the Americas. It not too long ago closed a cope with CONTPAQi, one among Mexico’s most distinguished accounting and administrative software program pioneers, to allow corporations to gather and pay by its platform.
This acquisition is a part of a broader consolidation of the B2B funds market in LatAm. Yaydoo additionally not too long ago merged with Paystand, the most important blockchain-enabled B2B funds community, turning the enterprise into one of many latest fintech unicorns on the continent.
Oyster now joins the Yaydoo and Paystand group of options to simplify and decentralize sending and receiving company funds within the U.S. and LATAM.
