Industry Veteran and Fintech Founder Joins Executive Team to Further Establish the Startup’s Next Frontier of Financial Leadership
Paystand – the leader in blockchain-enabled B2B payments – announces Scott Bennion as the company’s first-ever Chief Financial Officer. As a SaaS and fintech veteran, Bennion has spent a distinguished career helping hyper-growth companies achieve scale, having previously led both Sage Intacct and Recurly through significant growth and acquisition. He now joins Paystand on the heels of the company’s recent $50MM Series C financing round as payment volume has surged past $2B and employee growth has exceeded 100% in the past year, with more than 250,000 businesses using the Paystand B2B payment network.
“Bringing Scott on as our CFO is more than just adding another brilliant individual to our executive team – this move elevates Paystand’s financial leadership as we continue to pioneer the revolution in B2B DeFi,” says Jeremy Almond, CEO of Paystand.
Paystand’s mission is to reboot the commercial finance industry by building next-gen tools for finance teams. To date, the company has leveraged cloud and blockchain technology to create a first-of-its-kind B2B payment network that reduces transaction fees to 0%. The power of this network is delivered natively through Paystand’s platform and also through its seamless integrations for every major ERP system. As the founding CFO of Sage Intacct, Bennion’s deep industry expertise will further drive Paystand’s role in redefining commercial finance and delivering transformative solutions to finance teams. With decades of leadership experience across a series of disruptive fintechs, Bennion is uniquely qualified to bring forth the company’s vision for building a truly open and equitable financial system – starting with B2B payments.
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“I am thrilled to be joining a mission-driven company that’s singularly focused on bringing finance teams into the future,” says Bennion. “Paystand has built a platform and product that delivers superior economics to finance teams everywhere. I’m excited to lead the finance organization here and also to contribute to a product that I wish I had access to since my earliest days as a CFO. Paystand is truly transformative for finance teams, and I am so excited to push the company forward.”
As blockchain technology and cryptocurrencies continue to reshape our financial landscape and open up new opportunities for the consumer sector, the B2B space is still vastly underserved and represents a tremendous opportunity to build more efficient financial technology.
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“Bringing Scott on as our CFO is more than just adding another brilliant individual to our executive team – this move elevates Paystand’s financial leadership as we continue to pioneer the revolution in B2B DeFi,” says Jeremy Almond, CEO of Paystand. “Scott’s history with growing and scaling the kinds of companies that we partner with today will be invaluable to Paystand and to our ability to build products that uplevel both the life of the CFO and the role of the finance organization within companies.”
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