Jeremy Almond
- Co-Founder and CEO at Paystand
GetLatka interview
How Paystand Is Building a B2B Payment Network on Nearly 4x Year-Over-Year Growth (Interview with Jeremy Almond)
Jeremy Almond (Co-Founder and CEO of Paystand) spoke to Nathan Latka on August 6, 2018.
Paystand figures from the interview
- Total Funding Raised
- $12M
- Year-Over-Year Growth (2017)
- Nearly 4x
- Avg Monthly Revenue per Customer (2018)
- $1,500
- Team Size (2018)
- 30
- Year Launched
- 2014
“PayStand is a b to b payment network. So simple way to think of us is what Venmo does between consumers, making payments digital. We do for commercial companies. So we help b to b companies actually get their money faster, cheaper, in a more automated way.”
“We kind of think of us as like the Netflix of the industry, which is we've we've... We're trying to move the industry from a transactional model, sort of this blockbuster go in and rent something, to a fixed cost SaaS model. And so we charge a monthly subscription amount for for a customer and it's sort of all you can eat.”
“On average our customers pay us about $1,500 a month. They go up much higher and there's a few that's a little lower than that.”
Bio
Jeremy has spent the last 15 years in the tech-industry as a serial entrepreneur, startup adviser, and occasional investor. Jeremy has helped dozens of B2B companies drive adoption of digital commerce, and is still an active board member at a number of fintech companies. He started his career in technology as an engineer at nanotech startup Digital Instruments, which was acquired by Veeco (NASDAQ: VECO). At Veeco he led architecture, helping the company shrink massive computers down to devices that now fit in our pockets. He also led their global ERP implementation (15 years ago) where he got his first glimpse into the challenges of enterprise payments. He's been thinking about how to use technology to innovate in B2B financial services ever since. Jeremy holds a BS in Computer Engineering from the University of California and a Masters in Business from the University of Massachusetts.