The year 2023 marked a significant transformation for Bluechain, highlighted by a successful collaboration with a multinational financial services corporation to streamline supplier payment processes for SMEs. This success has drawn interest from major businesses and financial institutions eager to utilise Bluechain's end-to-end B2B payment solutions. 

Sigma Pharmaceuticals, a UK distributor for independent pharmacies, is the latest addition to Bluechain's expanding business network. This partnership aims to enhance receivables for Sigma's customers while simplifying and optimising their accounts payable process, benefiting both parties. 

Dipesh Vaja, Head of Sales at Sigma Pharmaceuticals says: “We are very excited to begin our journey with Bluechain to simplify the way we manage our customer payments, whilst giving our customers the benefit of enjoying rewards. This is a great opportunity for both ourselves and our customers as we also look to benefit from the latest in payment technology. The Bluechain team clearly understands the challenges that businesses face across receivables, which made them stand out as a provider. Their engagement on our feedback and willingness to adapt has been an added bonus.” 

In the first half of 2024, Bluechain achieved over 200% growth in users, transaction volume, and revenue compared to 2023. This milestone underscores Bluechain's progress in connecting more B2B businesses through streamlined payment processes, significantly reducing costs and manual efforts in receivables and payables. 

At the heart of Bluechain's platform is the "Request to Pay" feature, supported by a patented security model. This innovative approach positions Bluechain as a key player in transforming the UK's payments industry, especially after the underwhelming performance of Pay UK's similar initiative. With this rapid growth, Bluechain has announced an open funding round to accelerate its next phase of expansion. 

Tim Annis, CEO of Bluechain says: “2023 was an incredible year for Bluechain, and we are extremely proud of our team for everything that we have accomplished together. The success we experienced last year has unlocked a realm of opportunity for us, and we are excited to officially open our next funding round to fuel the next stage of our growth. 

“We look forward to building on this momentum throughout 2024 and beyond as we respond to businesses’ need for simplicity in B2B transactions and help them get the most out of it while minimising cost and time.”