FinovateSpring 2024 / CoreChain Technologies
Presenter Profile:
How they describe themselves: CoreChain Technologies is an embedded payments technology that powers digital B2B AP Payments for mid market companies. Often described as “Venmo for Business”, CoreChain Pay enables our customers to easily and securely pay their vendors digitally directly from their accounting system. CoreChain simplifies AP, and enables companies to consolidate all of its vendor payments to a single solution, avoiding lots of back office expenses, avoiding payments fees, and eliminating fraud risk.
How they describe their product/innovation: Often described as “Venmo for Business”, CoreChain Pay enables our customers to easily and securely pay their vendors digitally directly from their accounting system. CoreChain simplifies AP, and enables companies to consolidate all of its vendor payments to a single solution, avoiding lots of back office expenses, avoiding payments fees, and eliminating fraud risk.
Product distribution strategy: Through financial institutions, Through other fintech companies and platforms
Credit Union/Community Bank Fit: Credit Unions, Community Banks
Contacts:
Bus. Dev.: Tom Romary (Founder & CCO), tom@corechain.tech, 415-722-1554
Press: Jeff Pecor (Principal, Tailwind Communications), jeff@tailwindpr.com, 206-948-1482
Website: corechain.tech
LinkedIn: linkedin.com/company/corechaintech
HQ: New Haven, CT, USA
Founded: October 2019
Product Demoed: CoreChain Pay
Metrics: $5.7M in VC equity funding, $1M ARR, 30+ clients mid market with a total of $1.5B+ in “annual spend under management”, 15 employees
Raising Funding: Seed
Presenters: Tyler Lincoln – Director of Business Development, CoreChain Technologies | Tom Romary – Founder & CCO, CoreChain Technologies
- Key Executives
Tom Romary (Founder & CCO), Chris Aguas (Founder & CEO), RJ Herrick (Founder & CTO)
Key Stats
- Key Board Members
Tom Romary (Founder & CCO), Chris Aguas (Founder & CEO), Randy Shuken (Director, Former EVP MasterCard), Steve Reale (Director, General Partner at Ulu Ventures), Joe Giordano (Director, Venture Partner at Bloccelerate VC)
- Key Investors
Tom Kippola (Founder & Partner, Chasm Group), Motivate Ventures, New Form Capital, Next Coast Ventures, SaaS Ventures
- Key Advisory Board Members
Tom Kippola (Founder & Partner, Chasm Group), Cindy Gamble O’Neill (CEO, Vendara), Jim Walker (EVP Business Payments, BillGo)
- Key Partners
Acumatica ERP, Sage, Odoo, Scanco, SWK Technologies, Kensium, BillGo, Priority Payments, Deluxe