UK – Tranch, a London, UK-based buy now pay later platform for businesses, raised £3.5m (approx. $4.25m) in pre-seed and debt funding.
The round was led by Flash Ventures. The company is also backed by Y Combinator and will join YC’s Summer 2022 cohort. Other investors included Global Founders Capital. The round also includes a debt facility from Columbia Lake Partners. The company intends to use the funds to continue to grow the team, onboard more suppliers across multiple verticals, and expand its reach in the UK and the US later this year.Founded in London in 2021 by Philip Kelvin and Beau Allison, Tranch provides a BNPL platform for SaaS sellers and professional services providers, who can offer their end-customers a flexible way to pay for contracts worth £10,000 to £250,000, while they themselves get paid upfront, faster. Instead of settling invoices in full within a standard 30 to 90 day term, an end-customer that chooses ‘Pay with Tranch’ can spread the cost of their contracts over six to 12 months. Tranch’s dynamic credit lines can be used against multiple expenses incurred with multiple suppliers. 23/05/2022
