back Back

B2B BNPL platform Tranch raises $100m seed round

By Gloria Methri

January 25, 2023

  • BB2B BNPL
  • Cash Flow Management Platform
  • FinTech
Share

TRANCH, BB2B BNPL, Payments, US, UK, FinTech, cash flow managementTRANCH, a buy now pay later (BNPL) platform for SaaS sellers and services providers, has raised $100 million in seed equity and debt funding to bring payment flexibility to a wider pool of B2B customers.

The funding round was led by Soma Capital and FoundersX, Additional institutional investors include several US and UK FinTech founders. The funding round also included a credit facility from Clear Haven Capital Management and Tranch’s existing investors Global Founders Capital and Y Combinator.

Tranch says its BNPL platform brings to the B2B market a level of flexibility and choice that improves cash flow management for both suppliers and customers. Suppliers that offer a ‘Pay with Tranch’ checkout get paid upfront, while their customers can settle invoices worth up to $500,000 on terms that suit them, ranging from two to 12 months.

After beta-launching in the UK, Tranch was accepted into the Y Combinator accelerator and launched in the US. Now primarily focused on growth in the multi-trillion-dollar US B2B invoice market, Tranch has already spread out millions of dollars of invoices across multiple verticals in the services and SaaS industries.

Proceeds of the investment will be used to grow the team in Tranch’s New York office and expand the ‘Pay with Tranch’ checkout across multiple industry verticals.

Philip Kelvin, Co-founder & CEO of Tranch, said “Since securing our pre-seed funding and completing the Y Combinator programme, the total value of invoices we are handling every month has increased tenfold. Traction is growing fast because suppliers and business buyers alike simply understand and like what Tranch can do for them. With our new investors and substantial credit facility in place, we are in a great position to continue our growth in the US market out of our New York office so that every SMB that needs it can ‘pay with Tranch’ – flexibly and on their own terms.”

Previous Article

January 25, 2023

DailyPay announces $260m in new funding

Read More
Next Article

January 25, 2023

IBSFINtech opens new development centre in Bengaluru, India

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

BB2B BNPL

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

5 FinTechs boosting Wealth Management in the USA

Read More

Today

Coast raises $40m Series B to boost modern fleet payments

Read More

Today

Digital wallet Kuady opens office in Bulgaria

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024