Tranch, a London-HQed provider of immediate invoice finance to pay SaaS subscriptions and other B2B expenses, has raised $100 million in seed funds and debt to expand activity in the US.
The $100 million injection will fund team expansion at Tranch's existing New York offices, while also offering scope to bring its B2B BNPL checkout to industry verticals outside of SaaS.
The company's "Pay with Tranch" option allows SaaS firms to divide invoice spending across flexible payment plans.
Tranch offers finance for enterprise purchases of up to $500,000, for repayment in 12 months or less.
The startup is an active participant in Y Combinator's accelerator programme.
The latest funding includes an equity raise co-led by Soma Capital and FoundersX, backed by unnamed additional investors, as well as a credit line from Clear Haven Capital Management. As well as Y Combinator, Tranch's existing investors include Berlin VC Global Founders Capital.
Philip Kelvin, CEO and co-founder of Tranch, said: "Against this challenging macroeconomic backdrop, buyers and suppliers have to ensure they can optimise their working capital cycle, and B2B BNPL is a commonsense 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."