Paystand, the blockchain-based payment network for business, has secured US$50 million in a Series C Funding round led by NewView Capital. This brings the company’s total funding to US$85 million.
Jazmin Medina of NewView Capital will join the board.
The latest funding round also witnessed participation from SoftBank’s Opportunity Fund, King River Capital, Industrious Ventures, and Transform Capital.
Paystand leverages blockchain to automate the entire cash cycle for mid-market and enterprise customers, making B2B payments cashless, feeless, and frictionless.
This new round nearly doubles the funding Paystand raised in prior rounds and reflects the company’s triple-digit growth as it leads the movement for an open commercial finance system.
Paystand will use this new capital to invest in redefining B2B payments to accelerate the shift to a more business-centric payment infrastructure.