CoreChain: The Prospect of the B2B Payments Market
CoreChain, a pioneering portfolio company of Angeles since April 2022, is a vital asset in the business-to-business (B2B) payments market. By eliminating the inefficiencies associated with traditional payment methods, CoreChain reduces processing times and ensures better cash flow management. Its payment platform demonstrates a compelling value proposition to its users by supporting digital payments, providing working capital solutions, and integrating with various enterprise resource planning systems.
The primary appeal of CoreChain is its consistent record of security, efficiency, and ease of integration, stemming from enterprise blockchain technology. By offering a secure and scalable B2B payments network, they simplify digital vendor payments while reducing fraud risk and eliminating the need for paper checks. CoreChain supports over 240,000 suppliers on its platform and has processed over $1 billion in payments1. This extensive network indicates strong market penetration and potential for further expansion, which is crucial for scalability and market reach.
Angeles recognizes CoreChain’s strong alignment with the market trends in the B2B payments market. The global B2B payments market, valued at around USD 88 trillion in 2022, is expected to reach approximately USD 111 trillion by 20272, growing at a CAGR of around 10.1%3, and then to USD $174.38 trillion by 2030 with a CAGR of 11.9%4. While CoreChain has processed over $1 billion in payments, this is relatively small compared to the total market size of $6.6 trillion, which suggests room for significant growth.
Moreover, CoreChain addresses a crucial pain-point for middle market business transitioning to using digital payments. These businesses often face high processing costs and slow payment processing times. CoreChain’s solutions, including its blockchain ledger, reduces cost by automating traditional labor-intensive process, offering transparency, improving visibility and tracking, and streamlining processes times, thereby enhancing accuracy.
Angeles’ investment in CoreChain aims to capitalize on the demonstrated market growth within B2B payments with a company that enhances the industry’s security, enhances its efficiency and cash flow management. CoreChain’s mission to digitize the B2B payments sector and improve security aligns with Angeles’ dedication to supporting companies that drive technological advancement.
Source:
https://www.prophecymarketinsights.com/market_insight/Global-B2B-Payments-Market-4378
https://www.fortunebusinessinsights.com/b2b-payments-market-108853
