November 2

Yaydoo Buys Oyster to Scale B2B Payments Solutions Across Latin America

B2B solutions provider Yaydoo has acquired payments solution Oyster Financial in a move that it said boosts its position as a B2B payments solution provider in the Latin America (LATAM) market.

The acquisition adds Oyster’s financial services for freelancers and small to medium-sized businesses (SMBs) in the LATAM region to Yaydoo’s accounts receivable (AR), accounts payable (AP) and enterprise procurement tools, the companies said Tuesday (Oct. 25) in a press release.

“This acquisition consolidates our leadership in business payments and accelerates our growth, enabling many thousands of companies to collect and pay through the software they already use to run their operations,” Yaydoo CEO and Co-Founder Sergio Almaguer said in the release. “We are confident that Oyster’s technology and [Oyster Co-Founder Vilash Poovala’s] expertise will enable us to scale our solutions to achieve the impact we are looking for across the Americas.”

Photo courtesy of Fundación Capital.

Source: PYMNTS (link opens in a new window)

business development, digital payments, financial inclusion, scale