Clear, a fintech company, announced on Wednesday that it has acquired yBANQ, a B2B payments startup, in a cash and stock deal.
yBANQ is a payment collection, reconciliation, and automated bookkeeping platform supported by Y-Combinator.
Clear (previously Cleartax) said in a statement that it hopes to expedite its path into B2B payments and credit with this purchase.
The seed-stage company is a component of the internationally renowned venture capital firm Y Combinator.
Clear’s customers will be able to communicate with their business partners – vendors, customers, distributors, and accountants – on a single platform as a result of the acquisition. B2B payments are a vital network enabler that will be expedited by the recent YBanq acquisition.
