Quadient acquires YayPay, a startup with Ukrainian co-founder, for more than €17 million
French company Quadient has announced the acquisition of a fintech startup YayPay for more than €17 million. The news was told to the editors of AIN.UA by one of the founders of the startup, Evgene Vyborov.
- Quadient buys an 87% stake and the founders of the startup, Anthony Venus and Eugene Vyborov, become minority shareholders. Quadient may increase its stake to 100% in the coming years.
- The entire 60-person team of the startup remains with Quadient. “This deal is an investment not only in technology but also in people,” they say at Quadient.
- The founder of YayPay will also continue working, as Vyborov told AIN.UA.
- According to founder Anthony Venus, for YayPay, the deal is an opportunity to accelerate growth, gain access to global resources, and enter new markets.
- The deal is entirely in cash.
- YayPay now has about 3,000 users worldwide. In 2018, AIN.UA wrote that there were 480 of them.
- Previously, the startup raised two rounds of funding of $5.3 million and $8.4 million.
YayPay is a fintech startup, built using machine learning, which specializes in optimizing financial processes for medium-sized businesses. It allows tracking all invoices, their statuses, and making sure that they are safely paid. A cash flow predicting tool is also available: the service analyses previous invoices and predicts the potential date of the next payment. The startup was founded in 2015.