Basware Moves to Acquire Fraud Prevention Company Trustpair

Trustpair and Basware have announced that they have signed a binding agreement under which Basware is to acquire Trustpair, extending Basware’s Invoice Lifecycle Management offering into payment fraud prevention.

Basware says the acquisition will provide “invoice lifecycle assurance”, with Basware confirming that an invoice is legitimate and approved, and Trustpair confirming that the payment reaches the intended supplier.

Jason Kurtz, CEO of Basware said, “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. 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.”

According to the announcement, organisations globally lose an estimated 8% of their revenue each year to fraud and 75% of anti-fraud professionals reported an increase in generative AI document fraud and forgery over the past two years, while only 7% said their organisations were more than moderately prepared to detect or prevent AI-powered fraud.

Regulators in the US, UK and EU are also placing greater responsibility on businesses to prevent fraudulent payments before funds are released. For example, Nacha, which governs US bank-to-bank payments, tightened its rules in 2026. Businesses paying suppliers via ACH must now have processes in place to identify payments that were not authorised, including those resulting from business email compromise.

Following completion, Trustpair will continue to operate and go to market independently as a Basware company. Customers will not need to change providers or systems to benefit from Trustpair’s continued protection, and the open ecosystem will remain central to its strategy.

Kevin Permenter, research director at technology research company IDC, added:

“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. 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.”

The proposed acquisition will build on Basware’s acquisitions of Glantus, AP Matching and Redmap between 2023 and 2025. It will extend Basware’s Invoice Lifecycle Management offering, complementing the invoice fraud and duplicate-detection capabilities already built into the platform. Basware is backed by Accel-KKR, a global technology-focused investment firm.

The transaction is expected to complete later in 2026.