Pevita Pearce
Basware and Trustpair today announced a significant development in the financial technology landscape: the signing of a binding agreement for Basware to acquire Trustpair. This strategic acquisition is poised to extend Basware’s robust Invoice Lifecycle Management (ILM) capabilities by integrating Trustpair’s advanced payment fraud prevention solutions, creating what is described as the industry’s first comprehensive invoice lifecycle assurance. The combined offering aims to provide businesses with unprecedented end-to-end protection, from the initial confirmation of an invoice’s legitimacy and approval to the final verification that payments reach the intended supplier.
The imperative for such an integrated solution has never been more pronounced. Global organizations are facing escalating financial losses due to fraud, with estimates suggesting that up to 8% of revenue can be lost annually. The increasing sophistication of artificial intelligence (AI) has dramatically lowered the barrier for fraudsters to impersonate trusted suppliers and execute large-scale scams. Even the most diligent invoice processing controls can be circumvented by altered bank account details or compromised email communications. The accelerating trend towards instant payment systems further compresses the window of opportunity to detect and prevent fraudulent transactions before funds are irrevocably lost.
Evidence underscores the growing threat. A report from the Association of Certified Fraud Examiners (ACFE) revealed that 75% of anti-fraud professionals have witnessed an increase in generative AI-powered document fraud and forgery over the past two years. Alarmingly, only a small fraction (7%) of these organizations feel adequately prepared to detect or prevent such AI-driven fraudulent activities. This alarming statistic highlights a critical vulnerability in current financial operations, leaving many businesses exposed to evolving criminal tactics.
Simultaneously, regulatory bodies across major economic blocs are intensifying their focus on corporate accountability for payment fraud. Authorities in the United States, the United Kingdom, and the European Union are placing greater responsibility on businesses to implement robust preventative measures before releasing funds. A prime example is Nacha, the organization governing bank-to-bank payments in the U.S. In 2026, Nacha tightened its rules, mandating that businesses processing supplier payments via the Automated Clearing House (ACH) network must have established processes to identify and intercept unauthorized payments, a common outcome of Business Email Compromise (BEC) attacks. This regulatory shift necessitates a more proactive and comprehensive approach to payment security.
Trustpair, founded in 2017, has established itself as a leader in payment fraud prevention. The company’s core offering revolves around validating that the bank account information provided by a supplier is legitimate and belongs to the intended entity. This validation process is critical at multiple stages: during supplier onboarding, whenever account details are modified, and crucially, immediately before a payment is authorized. Trustpair currently serves a diverse clientele, integrating seamlessly with a wide array of enterprise resource planning (ERP), procurement, and treasury systems, including prominent platforms like SAP, Oracle, Coupa, Zycus, Ivalua, Jaggaer, and Kyriba. A key aspect of Trustpair’s strategy, which will continue post-acquisition, is its commitment to an open ecosystem, ensuring that customers do not need to alter their existing systems or switch providers to benefit from its enhanced security measures.
The integration of Trustpair’s capabilities into Basware’s existing ILM offering is expected to create a powerful synergy. Basware customers will gain a significantly elevated level of invoice-to-payment assurance, moving closer to the concept of the "Perfect Invoice" – an invoice that is not only complete and authentic but is also paid to the correct recipient. This holistic approach addresses the entire financial transaction lifecycle, a critical step in fortifying businesses against increasingly sophisticated fraud schemes.
Strategic Vision and Executive Perspectives
Baptiste Collot, Co-founder and CEO of Trustpair, expressed enthusiasm for the proposed acquisition, emphasizing the shared vision of comprehensive financial protection. "Trustpair was built around a simple belief: approving the right invoice is not enough if the money ultimately reaches the wrong account," Collot stated. "By bringing our capabilities together, we see the opportunity to give finance teams stronger protection across the full journey, from supplier onboarding and invoice approval through payment. Trustpair will continue to operate with the same team, platform, and commitment to our customers and partners across the finance environments they already use. Basware’s reach and resources will help us accelerate beyond what we could have achieved alone." This sentiment highlights the potential for accelerated growth and innovation under Basware’s umbrella.
Jason Kurtz, CEO of Basware, echoed Collot’s optimism, underscoring the escalating threat posed by AI in fraudulent activities. "AI may be the most powerful productivity tool of our generation. Unfortunately, it is also becoming one of the most powerful tools ever placed in the hands of criminals," Kurtz remarked. "A finance team can do everything right on the invoice and still send the money to the wrong bank account. Basware has spent more than 40 years protecting the invoice. Bringing Basware and Trustpair together extends that protection through the payment itself. Together, we will offer the first end-to-end invoice-to-payment assurance in the market, strengthening Financial Integrity and Continuous Compliance across the invoice lifecycle." Kurtz’s statement positions the acquisition as a direct response to the evolving threat landscape and a strategic move to solidify Basware’s market leadership.
Market Context and Broader Implications
The acquisition of Trustpair by Basware is not an isolated event but rather a continuation of Basware’s strategic expansion in recent years. Basware has proactively strengthened its ILM portfolio through a series of acquisitions, including Glantus, AP Matching, and Redmap in 2023-2025. These prior acquisitions have bolstered Basware’s existing market-leading capabilities in invoice fraud and duplicate detection, making the integration of Trustpair a logical and complementary next step. The combined entity will leverage shared intelligence from an immense dataset, encompassing over 2.5 billion invoices and 20 million suppliers. This vast repository of data will serve to further refine and strengthen Trustpair’s validation models, leading to more accurate and effective fraud detection.
Kevin Permenter, Research Director at IDC, a leading technology intelligence and research firm, provided an analyst’s perspective on the strategic significance of the merger. "The combination of Basware and Trustpair brings together complementary capabilities that address a growing gap in finance: protecting the invoice lifecycle from supplier onboarding through payment," Permenter observed. "As AI makes fraud more sophisticated and traditional validation harder to rely on, uniting these datasets enables a more contextual, proactive layer of risk assurance. It’s a logical strategic fit and a timely move into an area of the market that remains underserved." Permenter’s analysis validates the strategic rationale behind the acquisition, highlighting its potential to address a critical unmet need in the market.
The financial implications of payment fraud are substantial. Beyond direct financial losses, businesses also incur costs associated with reputational damage, regulatory penalties, and the diversion of resources to investigate and remediate fraudulent activities. The Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3) consistently reports Business Email Compromise (BEC) as one of the most financially damaging cybercrimes, with losses in the billions of dollars annually. By investing in advanced fraud prevention, companies are not only safeguarding their bottom line but also enhancing their overall operational resilience and stakeholder confidence.
Timeline and Future Outlook
The transaction is anticipated to be completed later in 2026, subject to customary closing conditions. Trustpair’s existing investors, including Axeleo Capital, Breega, and Tikehau Capital, have indicated their continued support for the company’s future growth phase, signaling confidence in the strategic direction and the combined entity’s potential.
To provide further clarity and engage with stakeholders, Basware and Trustpair are scheduled to host a webinar on September 16th. This session will delve deeper into the acquisition, outline the strategic vision for the combined entity, and provide insights into what customers can anticipate moving forward. This proactive communication strategy aims to ensure a smooth transition and foster continued trust among clients and partners.
The acquisition marks a pivotal moment in the evolution of financial transaction management. By uniting Basware’s extensive ILM expertise with Trustpair’s specialized payment fraud prevention, the combined entity is poised to set a new industry standard for financial integrity and continuous compliance. This strategic move addresses the pressing need for comprehensive solutions in an era of escalating digital threats and increasing regulatory scrutiny, ultimately aiming to deliver greater security and efficiency to businesses worldwide.
