- Embedded payments innovator CoreChain Technologies has agreed to be acquired by business management solution provider Acumatica. Terms of the deal were not immediately available.
- The acquisition will enable Acumatica to offer embedded supply chain financing to its customers directly from its platform instead of relying on outside partners.
- CoreChain Technologies made its Finovate debut at FinovateSpring 2024. The company is headquartered in New Haven, Connecticut.
Here’s Finovate alum acquisition news from earlier this year that slipped beneath our radar. CoreChain Technologies, which made its Finovate debut at FinovateSpring 2024, has agreed to be acquired by business management solution provider Acumatica. The announcement was made in January and builds on a relationship between the two companies that extends back to 2023, when CoreChain introduced a direct, integrated solution for Acumatica users with the launch of CoreChain Pay.
Terms of the acquisition were not disclosed.
“I am tremendously excited to announce that Acumatica has acquired CoreChain Technologies,” CoreChain Technologies CEO Chris Aguas wrote on his LinkedIn page earlier this year. “CoreChain has focused on modernizing B2B payments for the past 7+ years, and embedding AP payments capabilities directly into ERP workflows has been a key focus since the very beginning of our journey.”
Since inception, CoreChain Technologies has processed more than $1 billion in B2B payments. CoreChain’s network of networks streamlines the financial supply chain by offering simple and secure digital B2B payments between buyers and suppliers—including digital payment options such as virtual cards and ACH. The acquisition will enable Acumatica to offer embedded supply chain financing directly while continuing to provide customer choice via an open marketplace.
The acquisition further transforms Acumatica’s business software into an actual fintech platform. Offering CoreChain’s blockchain-based payment system as a core part of its solution will enable Acumatica to leverage embedded finance to offer key financial tools such as supply chain finance directly instead of relying on third parties.
“We’re living in an incredibly exciting age of AI, with endless possibilities and impact that organizations are experiencing today,” Acumatica CEO John Case said. “We see it with customers who are combining new AI capabilities with human ingenuity to enhance performance and empower people to do their best work.”
Based in Bellevue, Washington, Acumatica offers a comprehensive business management solution designed to assist small and mid-market companies with connected, collaborative work environments. The company’s flagship offering, Acumatica Cloud ERP, was recently updated to include expanded AI capabilities, enhanced reporting tools, and new collaboration features. The enhancements are designed to better connect field teams with their back offices and to introduce early access to Acumatica’s AI Assistant, which facilitates a more intuitive, conversational way to access insights from their data.
Founded in 2019, CoreChain Technologies made its Finovate debut at FinovateSpring 2024. At the conference, the New Haven, Connecticut-based company demonstrated its CoreChain Pay solution. Billed as “Venmo for Business,” CoreChain Pay enables businesses to seamlessly and securely pay vendors digitally directly from their accounting systems. The technology makes accounts payable easier and allows companies to consolidate their vendor payments in a single solution, avoiding back office expenses, payment fees, and fraud risk.
Interested in learning more about exciting new fintechs like CoreChain Technologies? Join us next month in San Diego for FinovateSpring 2026, May 5-7, featuring more than 40 demoing companies making their Finovate debuts!
Photo by Krishnan Srinivasan on Unsplash
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