Tranch debuted an expanded version of its B2B payments platform to major enterprise clients in the United States.
With the expanded product, law firms and other enterprise clients can leverage Tranch’s payment experiences for their own customers, the company said in a Monday (Nov. 13) press release.
Tranch is a checkout platform tailored for the software and services industry, according to the release.
The platform provides a suite of payment options that includes its Pay Now, Pay by Card and Pay Later, the release said.
Pay Now integrates with the RTP Network and the FedNow® Service to accelerate transactions through authenticated payments, per the release.
Pay Later enables the customers of its clients to pay flexibly over two to 12 months up to $500,000, according to the release.
“Our commitment has always been to revolutionize the payment landscape for enterprises by transitioning them from traditional methods like checks and wires,” Tranch CEO Philip Kelvin said in the release. “We understand the need to ensure payments happen quickly, seamlessly and on each party’s terms. With an innovative product offering which can be implemented in 72 hours by even the largest of firms, we’re changing B2B payments for the better.”
The rollout of this expanded product comes about 11 months after Tranch raised $100 million in a seed round to bring its B2B buy now, pay later (BNPL) platform to more Software-as-a-Service (SaaS) sellers and service providers by growing its team in the U.S. and expanding to more industry verticals.
“Traction is growing fast because suppliers and business buyers alike simply understand and like what Tranch can do for them,” Kelvin said at the time. “Against this challenging macroeconomic backdrop, buyers and suppliers have to ensure they can optimize their working capital cycle, and B2B BNPL is a commonsense way to achieve that.”
In June, Tranch partnered with Breef, an online marketplace that connects brands and agencies, to enable Breef to empower brands with a B2B BNPL approach to meet their marketing needs. With the addition of this option, companies can find and finance agencies on a single platform.
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