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The Trustpair Story
Founded by Baptiste Collot, Alexandre Gillier and Simon Elcham, Trustpair has developed the leading platform for automated bank account verification of third parties, covering more than 190 countries. Where a manual check takes an average of 30 minutes per supplier, Trustpair delivers an instant result for 90% of assessments. This frees finance and treasury teams to focus on higher-value work while structurally reducing fraud exposure. The platform secures every stage of the procure-to-pay process, integrates natively with the ERP, TMS and procurement tools that anchor enterprise finance operations, and today protects payments for more than 600 organizations, including leading Fortune 500 companies.
For Axeleo, the conviction on Trustpair started with the founders. Baptiste Collot brought a rare combination of finance domain expertise, product instinct and the kind of long-term operator discipline that B2B SaaS demands. The problem was real, the technology was differentiated, and the team showed from day one the seriousness required to build a global category leader.
From First Institutional Ticket to Strategic Acquisition
Axeleo Capital participated in Trustpair’s very first funding round and has supported the founding team at every subsequent stage. Trustpair has since gone through every key milestone of a category-defining B2B SaaS company: product maturation, first major enterprise wins and international expansion, including a robust response to the emerging threat of AI-powered fraud.
Behind that trajectory is a leadership team that has shown, time and again, the ability to anticipate market shifts and adapt accordingly.
The move to New York was the first signal of that ambition. Baptiste relocated there to lead Trustpair’s US expansion, a deliberate shift from European consolidation to transatlantic scale, at a time when American enterprises face an accelerating wave of AI-powered payment fraud.
The next step was decisive. In October 2026, Basware, a global leader in Invoice Lifecycle Management serving more than 6,500 customers, completed its acquisition of Trustpair. The rationale is clear: an invoice can be authentic and approved while the supplier’s bank account is fraudulent. Basware verifies the invoice, and Trustpair verifies the supplier, the account and the payment destination. Together, they extend control from invoice to payment. Trustpair continues to operate independently, keeping its platform, its customer relationships and its system-agnostic approach, while drawing on Basware’s scale, resources and data foundation to innovate faster.
We have seen this pattern before with Trustpair: a deliberate decision, made at the right moment, that puts the company ahead of the curve. We are proud to have been part of this journey.
A Long-Term Operating Partnership
Since our first investment, our role has gone beyond capital. We have served as a long-term operating partner to Baptiste and the executive team, providing a dedicated space for reflection on the company’s organizational growth. That collaboration has focused on three areas in particular:
Scaling the leadership team: thinking through how the management layer should evolve to support international expansion.
Strategic alignment: acting as a sounding board for Baptiste to stress-test and refine the company’s trajectory.
Human capital: sharing our experience of the organizational milestones that come with growing from a small expert team into a global leader.
Why This Deal Matters
Trustpair is exactly the kind of company Axeleo seeks to back: a real problem with measurable economic stakes, a differentiated technology, and a leadership team able to build a global category leader. Wire fraud prevention is no longer a niche treasury concern. It is becoming a foundational layer of enterprise finance infrastructure. Basware’s acquisition confirms it: payment control is now part of the core finance stack, and Trustpair is the company that defined it.