Basware has signed a binding agreement to acquire Trustpair, extending its Invoice Lifecycle Management platform into payment fraud prevention.
The combination is designed to provide end-to-end invoice-to-payment assurance, with Basware validating that an invoice is legitimate and approved and Trustpair confirming that the payment is being sent to the intended supplier.
The companies are positioning the acquisition around a growing fraud challenge as artificial intelligence makes supplier impersonation, document forgery and business email compromise easier to execute at scale.
The announcement cited research showing 75% of anti-fraud professionals have seen an increase in generative AI document fraud and forgery over the past two years, while only 7% said their organizations are more than moderately prepared to detect or prevent AI-powered fraud.
Trustpair works with customers using ERP, procurement and treasury platforms including SAP, Oracle, Coupa, Zycus, Ivalua, Jaggaer and Kyriba.
Following closing, Trustpair will continue operating independently as a Basware company with its existing team and platform.
Customers will not be required to change their existing technology providers or financial systems, allowing Trustpair to maintain its open ecosystem strategy.
Trustpair was founded in 2017 and specializes in validating supplier bank accounts during onboarding, when account information changes and immediately before payments are authorized.
The company protects payments for more than 600 organizations and is a Nacha Preferred Partner.
Integrating Trustpair with Basware will also provide access to shared intelligence spanning approximately 2.5 billion invoices and 20 million suppliers, which the companies expect to use to strengthen fraud detection and account validation models.
The transaction builds on Basware’s acquisitions of Glantus, AP Matching and Redmap between 2023 and 2025.
Basware is backed by Accel-KKR and serves more than 6,500 customers globally, including DHL, Heineken and NBC Universal Media.
The acquisition is expected to close later in 2026, subject to customary closing conditions.
KEY QUOTES:
“Trustpair was built around a simple belief: approving the right invoice is not enough if the money ultimately reaches the wrong account. 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.”
Baptiste Collot, Co-Founder And CEO Of Trustpair
“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. A finance team can do everything right on the invoice and still send the money to the wrong bank account.”
“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.”
Jason Kurtz, CEO Of Basware
