Tranch

Tranch was founded by Philip Kelvin and Beau Allison, former CFO and head of engineering, respectively, of PropTech (online mortgage brokering) startup Trussle. Tranch combines traditional credit reports and open banking to allow companies to offer suppliers flexible payment options between six and 12 months on contracts worth GBP 10,000–250,000 (approx. USD 12,500–315,000). It launched an enterprise suite of payment offerings , including Pay Now, Pay by Card, and Pay Later, focused on the software and services industry in November 2023.

Key customers and partnerships

In June 2023, Breef, an online agency marketplace, announced the launch of Breef Pay, a payment solution powered by Tranch that allows brands and businesses to invest in agencies and pay for it overtime in installments.

Tranch entered into a partnership with cloud-based FinTech Yobota in May 2022. Yobota, founded in 2016, is known for its cloud-native banking platform that provides the infrastructure for B2B payment options. Tranch was expected to benefit from Yobota’s architecture and application programming interface (API) capabilities.

Funding and financials

In January 2023 , the company raised USD 100 million in seed equity and debt funding in a round led by SomaCapital and FoundersX alongside a credit facility from financial services firm Clear Haven Capital Management. The funding is to be utilized to expand Tranch’s US team and introduce “Pay with Tranch” across multiple industry verticals. Previously, in May 2022 Tranch raised GBP 3.5 million (approx. USD 4.4 million) in a pre-seed funding round.