California based B2B payment platform PayStand raised a $6m Series A led by BlueRun Ventures.
PayStand will use this new round of funding to scale its account receivable systems, and launch a new free accounts payable product line, opening up in beta today. PayStand uses blockchain technology to remove friction from the accounts receivable and payable process, simplifying one of business’s most notorious headaches—sending and collecting money. An end-to-end digital process, PayStand’s network automates cash management, from accounting software to reconciliation. Users embed payments into their apps, websites and invoices, funneling revenue into a seamless digital network that supports traditional card & ACH processing as well as next-gen eCheck bank transfer and 0 percent eCash stored-value technology. All payment data is securely tracked and recorded, receivables digitized and processing automated.