Basware closes Trustpair acquisition to verify supplier bank accounts
The invoice-automation vendor wants supplier bank-account checks to sit next to invoice approval rather than in a separate tool, and will keep the Paris-based platform open to companies that run other finance systems
- Trustpair says it secures payments for more than 600 organizations, including Fortune 500 companies
- Trustpair says its platform is SOC 2 Type II and ISO 27001 certified
- Basware, with more than 40 years in accounts payable, is backed by Accel-KKR, a technology-focused investment firm
- UK Finance says 48% of invoice and mandate scam losses were returned to victims in 2025
Supplier bank-account verification is becoming part of the accounts-payable and ERP stack instead of a separate purchase, and the larger vendors are buying it rather than building it. Businesses on Basware should ask when Trustpair’s checks reach their contract and at what cost; everyone else should ask their accounts-payable, ERP or payments supplier whether verification is built in, planned or offered through a partner. Until then, keep a call-back on a known number for every change of bank details.
“An invoice can be authentic and accurate, but the financial outcome is still wrong if the payment goes to the wrong account.”Jason Kurtz, chief executive, Basware
Basware, the accounts-payable and invoice-automation vendor, said on 5 October that it had completed its acquisition of Trustpair, a supplier bank-account verification and payment-fraud prevention platform, after agreeing the deal on 26 August. Terms were not disclosed.
Basware had said in August that it expected to close later in 2026. Trustpair, founded in 2017 and with offices in Paris, London and New York, vets suppliers and the bank accounts attached to their invoices before a payment goes out. The companies say it keeps its own platform, contracts and support and will still connect to enterprise resource planning (ERP), treasury and payment systems whether or not a customer runs Basware.
The fraud it targets is shrinking in the UK but still falls mainly on companies. According to UK Finance’s Annual Fraud Report 2026, published in June, invoice and mandate scams cost victims £41.3m across 2,305 cases in 2025, the lowest totals the trade body has recorded. More than two-thirds (68%) of that money came from business accounts, because, the report says, businesses make large genuine payments often enough for a rogue one to blend in.
Supplier history meets fraud signals
Basware says it has more than 6,500 customers and holds data on 2.5 billion invoices and 20 million suppliers. The companies say Trustpair will draw on that data to strengthen its validation models. Baptiste Collot, Trustpair’s co-founder and chief executive, said the market signal since August had been that finance leaders no longer saw invoice approval and payment assurance as separable.
Sources
- Basware, “Basware Completes Acquisition of Trustpair, Strengthening Financial Integrity from Invoice to Payment”, press release, 5 October 2026. https://news.basware.com/en/basware-completes-acquisition-of-trustpair
- Basware, “Basware Signs Agreement to Acquire Trustpair”, press release, 26 August 2026. https://news.basware.com/en/basware-signs-agreement-to-acquire-trustpair
- Trustpair, “Basware Completes Acquisition of Trustpair”, company announcement, 5 October 2026. https://trustpair.com/blog/basware-completes-acquisition-of-trustpair/
- UK Finance, “Annual Fraud Report 2026”, report, June 2026. https://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2026
