Tranch, a buy now, pay later platform for SaaS sellers and services providers, has raised $100m in seed equity and debt funding
The funding round was led by Soma Capital and FoundersX. Additional institutional investors participated in the round, including several US and UK fintech founders. The funding round includes a credit facility from Clear Haven Capital Management.
Tranch was founded in London in 2021 by Philip Kelvin and Beau Allison, former CFO and head of engineering respectively of PropTech startup Trussle
Using Tranch, SaaS and services providers can be paid upfront while offering their customers flexible payment options up to 12 months
What does this mean?
Philip Kelvin, Co-founder & CEO of Tranch, comments: “Against this challenging macroeconomic backdrop, buyers and suppliers have to ensure they can optimise their working capital cycle, and B2B BNPL is a common-sense way to achieve that. With our new investors and substantial credit facility in place, we’re in a great position to continue our growth in the US market out of our New York office."