Tranch, a NYC- and London, UK-based provider of (BNPL) platform for SaaS sellers and services providers, raised $100M in seed equity and debt funding.
The round was led by Soma Capital, FoundersX, Global Founders Capital and Y Combinator. The funding includes a credit facility from Clear Haven Capital Management.
The company intends to use the funds to accelerate the growth of its team New York office and expand the ‘Pay with Tranch’ checkout across multiple industry verticals.
Led by CEO Philip Kelvin, Tranch is a B2B buy now pay later (BNPL) platform enabling SaaS and services providers to be paid upfront and offer their customers flexible payment options up to 12 months. By offering a ‘Pay with Tranch’ payment method at checkout, providers, such as law firms and marketing agencies, are able to offer an alternative way for their end-customers to pay for contracts worth up to $500,000.
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, the startup has already spread out millions of dollars of invoices across multiple verticals in the services and SaaS industries. Early service providers offering a ‘Pay with Tranch’ payment option include New York-based procurement platform Tropic and international law firm Goodwin Procter LLP.
FinSMEs
24/01/2023