PayStand Ranks on Deloitte Technology Fastest Growing U.S. Companies List
PayStand is a leader in Business-to-Business (B2B) blockchain payments, rendering transaction fees obsolete and creating a streamlined process for businesses to receive payments automatically. This company helps firms reduce their time-to-cash by leveraging economic incentive models and intuitive user interfaces that encourage operational efficiency. PayStand essentially does all the work for you, whether that be automating invoicing, reconciliation, month-end, and payment options, while also giving you “instant access” to your cash flow through its speedy payment processing system. It strips away the intermediaries that slow down revenue collection, allowing cash to flow straight to a company’s bottom line.
The Santa Cruz Works team has cast a special spotlight on PayStand throughout our various newsletters, highlighting their residency on the Inc. 5000 list for the fifth consecutive year and their lucrative acquisitions of companies like TeamPay and Yaydoo. Unsurprisingly, PayStand now enjoys a spot on the Deloitte Technology Fast 500 list for a second year, having been ranked #306 based on their “fiscal-year revenue growth percentage over a three-year period.” According to Deloitte, which has reported annually on North America’s fastest-growing technology, fintech, and media companies for 30 years, PayStand has seen a 380% growth from 2020 to 2023.
Jeremy Almond, founder and CEO of PayStand.
Jeremy Almond, founder and CEO of PayStand, reflected on the prestigious honor in an article with Technology Today by EIN Newsdesk: “Our goal has always been to eliminate unnecessary fees and barriers, empowering companies to achieve greater profitability and financial agility. Being recognized on the Deloitte Technology Fast 500 for the second year is a testament to the power of our vision and the incredible growth we’ve achieved by delivering real value to businesses.”
While PayStand’s ranking is certainly a deserved distinction, it did not come entirely as a surprise. PayStand has made impressive strides in its field this year, boasting $11 billion in transactions with more than 1 million companies within its B2B network. Likewise, the company has begun integrating new automation networks, like Acumatica and Microsoft Dynamics Business Central, to further accelerate cash flow and payment efficiency. Alongside PayStand’s AI Smart Match system and its efforts to promote financial inclusion via blockchain and Bitcoin, the company has certainly made waves fitting of the recognition it has received.
Almond, a Santa Cruz resident as well as a celebrated entrepreneur, is an example of a brilliant mind that has emerged from our local innovator sphere. As PayStand continues to climb the ranks of public acclaim and recognition, we can recognize our talented community members’ impact on shaping global industries and fostering global innovation.