CoreChain Technologies, a New Haven, Conn.-based digital B2B payments network built on blockchain, raised $1.25 Million in pre-seed funding. Backers included Ulu Ventures, Connecticut Innovations, Bloccelerate VC, and New Form Capital.
The company intends to use the funds to accelerate enterprise customer adoption and expand its payments and financing network.
Company: CoreChain Technologies
Raised: $1.25M
Round: pre-Seed Round
Funding Month: August 2021
Lead Investors:
Additional Investors: Ulu Ventures, Connecticut Innovations, Bloccelerate VC, and New Form Capital
Company Website: https://corechainb2b.com/
Software Category: Blockchain
About the Company: Led by Chris Aguas, Founder, and CEO, CoreChain is using enterprise blockchain technology to power B2B payments and financing streamlining the manual processes and reconciliation while mitigating fraud. CoreChain also creates lending opportunities to finance the working capital being held in unpaid invoices. Since its launch in September 2020, the platform has processed over $300 million in B2B payments for enterprise buyers, including transactions for channel customers, such as PaymentWorks.
Source: https://www.finsmes.com/2021/08/corechain-raises-1-25m-in-funding.html