Quadient buys startup with Ukrainian co-founder YayPay for $ 20.5 million

The French company Quadient announced the purchase of YayPay, a fintech startup for 17 million euros ($ 20.5 million). One of the founders of the startup, Evgeny Vyborov, told AIN.UA about this.

• Quadient buys 87% of the shares, the founders of the startup – Anthony Venus and Evgeny Vyborov – remain minority shareholders. In the future, Quadient may increase its share to 100%.
• The entire 60-person startup team remains at Quadient. “This deal is an investment not only in technology, but also in people”, – says Quadient.
• The founder of YayPay will also continue to work, said AIN.UA Vyborov.
• For YayPay, founder Anthony Venus says the deal is an opportunity to accelerate growth, access more resources and expand into new markets.
• The $ 20.5 million deal is completely in cash.
• Now YayPay has about 3000 users worldwide. In 2018, AIN.UA wrote that there were 480 of them.
• Earlier, the startup attracted two rounds of funding for $ 5.3 million and $ 8.4 million.

YayPay is a machine learning fintech startup that specializes in optimizing financial processes for midsize businesses. In particular, it allows you to track all invoices, their statuses and make sure that they have been paid safely. A cash flow forecasting tool is also available: the service analyzes previous invoices and predicts the potential day of the next payment. The startup was founded in 2015.