Yaydoo is set to expand its B2B fintech solutions. And thanks to its recent series funding, it’s on its way to achieving its goals.
With a Series A funding amounting to $20.4 million, the company is geared to scale up and expand across other Latin American countries. Base10 Partners and monashees led the round, and SoftBank’s Latin America Fund and Leap Global Partners joined them on the cap table.
It’s not surprising that investors saw the potential in this Mexico City-based software and payments company. After all, it has such a huge market to tap, with the global B2B industry having an annual value of $120 trillion.
Yaydoo basically offers tech for improving smart liquidity access, cash flow control, and linking ventures of all sizes to a tool system. With its three products – P-Card, PorCobrar, and VendorPlace – the company has come a long way since it first launched in 2017.
Innovating the B2B cashflow process
Entrepreneurs Sergio Almaguer, Roberto Flores, and Guillermo Treviño founded the startup. According to Almaguer, the idea for the startup came from seeing that fin tech is changing entire industries. Moreover, it’s changing tasks and how ventures do those tasks.
That said, many companies are still using old-school ways of doing cash workflows. It’s not because of a lack of innovation but because of certain challenges. These include the absence of easy-to-use tools, a lack of skilled labor, and meager budgets for automation.
Yaydoo aims to simplify the B2B fintech process by linking the vendors and users with a system of products. Not only will it help users have real-time control of their venture but it can also enhance liquidity. Not to mention, it could make B2B payments simpler and less tedious.
The startup’s products are earning good reviews across its market. After all, it helps bridge the working finance gap in Latin America, thus offering an all-in-one product for small ventures and mega-corps alike. In fact, Over 70,000 users have used Yaydoo’s network over the past year. And with COVID-19 pandemic foiling manual payment systems, it’s not at all shocking.
Geared for growth
With the recent shift to modern products due to COVID-19, fintech startups like Yaydoo are surely reaping the benefits. For instance, vendors are adding their clients to the system to make creating invoice, purchase orders, and other related tasks easier. And vendors are also making the most out of the products. In fact, the stats say their products have reduced 80 percent of time spent on paying vendors.
Yaydoo currently has a SaaS subscription model. With the Series A funding that they’ve just secured, however, they’re going towards a “freemium” approach. The startup hopes that this added aspect in their business model will convert users into subscribers.
Rexhi Dollaku of Base10 Partners said the team and the startup’s approach to B2B payments impressed them. Also, the firm liked how they synced such a complex system but still came up with easy-to-use products. With Yaydoo in place, vendors and users are hopeful about the progress of B2B payments in the region.
Aside from going beyond its home country, the startup has a lot of other plans with its new round of funding. The startup’s news release says it plans to use some of the funds for product development, something that’s a given in tech.
Also, Yaydoo says it also looks at future chances for working capital business. For instance, they would want to delve further into the number of invoice units and the presence of actual payments. In the same vein, they also want to ease the system of knowing how much money flows in and out. All these are in the hopes of making the B2B finance process more seamless.
OpenStudio – Business Management All-In-One
We all need a service that makes business easier, right? Managing your team, your finances, your documents, and your customers can be an arduous juggle. There are a few services out there that help businesses manage all of this. But have you heard of OpenStudio? No? Well, allow us to make a proper introduction.
OpenStudio helps you centralize all the applications and services you may need in order to run a business.
Some of the top features offered by OpenStudio are necessary in order to run a business but haven’t necessarily been rolled into one package. Things like IT Protocol/Document Management create a shared workspace to save your important documents for future consultation.
Or perhaps you may find the Permissions and Authorization Management feature useful. You can decide which permissions and applications every member can access.
OpenStudio offers the following services:
- Content Management
- Task Management
- Document Management
- File Sharing
There are other similar services, but none of them are as neatly packaged and formatted as OpenStudio. Running a business doesn’t have to be complicated. All you need should be at your fingertips. A custom environment to manage your team, your finance, your documents, and your customers? Sign us up.
Archbee Is Here To Centralize Your Company Data
If you could describe Archbee in two words they would be: “documentation specialist.”
Founded in 2018 with $1 million in funding. Archbee is a knowledge base platform for technical teams to create, structure, and share documentation internally and to customers.
The software provides a set of customized tools for software developers. This enables everyone in the business to organize key information and intelligence in a single hub. That’s a benefit of colleagues and customers, both present and future.
In an interview with Forbes, founder and CEO of Archbee, Dragos Bulugean stated:
“We are talking about the knowledge that makes your business what it is. Archbee is meant to be the one-stop-shop for the documentation needs of software companies.”
“Businesses are in a rush to create products, launch them faster, and be the first to market. An important part of creating a product is its catalog or index – in essence, the ‘how to’ guide.’”
“It is this often neglected task that Archbee is making it easier to create. It is not just a product manul but a central knowledge base and the true front of knowledge which is making an impact on commercial metrics – helping improve onboarding time for customers, reducing the number of support tickets and, importantly, making the products understood by users.”
“We’re focused on helping any company that builds software to create collaborative spaces which are accessible to all and easy to use.”
This long-awaited platform offers editing, document collaboration, Slack integration, file storage, and other related services. These features, in turn, enable engineers to disseminate real-time information about planning on their construction team.
When you have a software as innovative as Archbee, it frees time up for developers and engineers. That way they’re able to spend more time in “deep-work” mode and solve more challenging problems that require full attention.
In short, with Archbee, you can centralize all of your information in one place.
Meet The World With Memrise
All over the world, around 60-75% of people speak at least one language. People who speak more than one language report improved memory, problem-solving, critical-thinking skills, enhanced concentration, and more. So, if you speak more than one language, you essentially have an improved brain. If you want to join this crowd, Memrise may be the most effective option out there.
“One of the things that had kind of caught my attention was that psychology around how we learn languages.”
Ben Whatley, Co-Founder and CPO of Memrise, learned French the way most of us learn a second language. We’re given the rules of the language, the grammar, how to speak properly. But there’s a flaw in that approach.
“I would go to France and I couldn’t speak a word. I wanted to understand why that was.
“That was a light bulb moment.”
The way we’re taught language is from the left brain perspective as opposed to the right. The left brain involves analytics, reading, and writing. The right brain involves creativity. If you need a metaphor to help you out, the left brain is the uptight, brilliant nerd and the right brain is the hippie-dippie artist.
Whenever you’re learning a language, you may often hear that the best way to learn is to immerse yourself in it. If you’re learning Spanish, spend a month in Mexico City. If you’re learning Japanese, take a trip to Tokyo. And so on. The grammatical approach to learning language has its value, but it’s the colloquial experience that truly helps imprint
Whatley and fellow Oxford classmate, Ed Cooke, founded Memrise in 2010. Cooke, a Grand Master of Memory, had combined his skills with Whatley’s observations and ideas. They conceived of a new method of language learning. One more in line with immersion than grammar.
“We’ve been gradually and daringly evolving the product to bring more and more of the richness of real-world content into the course of our ongoing experience.”
“In 2016, we did a tour around Europe on a double-decker bus to collect a video dictionary of all the European languages.
“Tens of thousands of short videos of native speakers [speaking] in context.”
While other language learning apps like Duolingo or Babbel have computerized voices, Memrise has actual recorded voices.
“That kind of got baked into our core algorithm – namely naturalistic accents, idioms, phrases as they’re spoken in the real world, not sort of in the kind of academic sense, but a kind of multi-dimensional learning.” – Cooke
“Most everyone really wants when they’re learning a language is they’re learning it to connect with other people, to be able to read what other people mean and to be able to express themselves to other people.” – Whatley
Speaking Spanish to your teacher versus speaking to a coworker is notably different. Your teacher will have you say “poco” to mean “little” when your coworker will make fun of you for sounding too proper. Memrise would teach you that “poquito” is the casual way to say “little.”
Memrise is disrupting the academic dominance of language learning by focusing more on practice than technique. How many native English speakers do you know that speak perfectly grammatical English?
Let’s take “you all.” In the south, you’ll here “ya’ll.” But in Pittsburgh, you’ll hear “yinz.” Do you think ESL teachers are noting things like that? Probably not. Memrise, however, does focus on this more casual ways of speaking because they have a stronger understanding of how the human brain functions and how we communicate with one another.
One interesting feature you’ll find with Memrise but not any other language learning app are Zoom conversations. These are free rooms where you can hop in and speak, say, Spanish with other people. Instead of traveling to Mexico City to immerse yourself in the Spanish language, you can log into Zoom and speak it with other speakers.
“It’s live person to person – it’s not a lesson. It is just about trying to use whatever language skills you’ve got in your in your bag. Just try and get it out there and use it, because that’s what happens when you are actually in a country.” – Whatley
“The aspiration is to make it as fun as being in the country.” – Cooke
It’s never too late to learn a language. The pleasure of learning and speaking a new language is immeasurably rewarding. As Memrise says on their site, “learn and language and meet the word.”