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CoreChain: Raises $1.25M in Funding

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
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