CoreChain Raises $1.25M in Funding
- CoreChain Technologies, a New Haven, Conn.-based digital B2B payments network built on blockchain, raised $1.25m 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
- The company is using enterprise blockchain technology to power B2B payments and financing streamlining the manual processes and reconciliation while mitigating fraud
- The company 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
