Yaydoo, a way to reduce expenses

Since he was a teenager, he already had a desire to start a business. In this way these youth tried to take their first step in business, but it did not go well for them. However, they persisted and now after merging with American PayStand in 2022, they have a company valued at $1 billion, i.e., they are a Mexican unicorn.

Sergio Almaguer, co-founder and CEO of Yadu, is passionate about entrepreneurship, like his other two partners, royals: Roberto Flores Rivarol (co-founder) and Guillermo Trevino (co-founder and CTO).

“When we were 15, we wanted to start a business. At that time we thought about more traditional things, like creating web pages, e-commerce, social media campaigns; It wasn’t really anything like a startup. The three of us built businesses serving SMEs. For example, Guillermo created mobile applications; Roberto had a business where he sold technology supplies and hardware; i did songs e-commerce, Social Networks, Digital Marketing. That means, from a very young age, our intention was to start a business,” he says.

Yaydoo, which integrates multiple SaaS platforms, mainly provides solutions to medium and large companies, so that they can reduce their expenses by optimizing their purchases through financial automation.

“Today we are generally dedicated to automated business payments and collections. The way we got there was that, when we started the business, we realized that one of the things companies needed most was a tool that managed all of their operational flows, both business purchasing and accounts payable. And was able to centralize accounts receivable, and we realized that there was a lack of tools in the market that could really interact with the financial system, not only in the software part, but also with different payment and collection methods, and It all flows within your company and out to your customers, integrated into your suppliers in a simplified way,” he says.

Almaguer enthuses that one of the things he is most proud of is the impact he has already made in terms of the number of companies that are part of his network: Mexico has grown to more than 100,000 connected companies; And, in the United States, more than 500,000 companies, totaling more than $10,000 million processed between the two countries.

If I had to say something to entrepreneurs, Almaguer would advise that, first of all, they develop a good tolerance for failure, because there is no magic formula to achieving success.

“Because, if there’s one ingredient that’s always there in the formula for success, that ingredient is failure,” he says.

The name Yaydu originates from the union of two words: the first is “yay” (which in Spanish is usually pronounced as “ye”), which is an onomatopoeia that expresses emotion, happiness; And the second is “do”, the verb pronounced “to do” (“do” in English). So, the name reflects the spirit of the founders of this company: loving what you do, being excited about what you do, and loving your work.

This article is part of the Forbes Mexico print edition of 30 Promises 2024.

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