By Oliver Smith on Tuesday 31 May 2022
A big win for both fintechs.
Tranch, the B2B buy now, pay later provider that emerged from stealth just last week, has signed its first major technology partnership.
The London-based fintech has chosen Yobota to provide its core banking infrastructure as Tranch develops its flexible payments service.
Its partnership comes after Tranch revealed a pre-seed equity and debt funding round of £3.5m from investors including Flash Ventures, Global Founders Capital and a debt facility from Columbia Lake Partners.
For Yobota the partnership is one of the first since the technology provider was acquired by one of its biggest customers, Chetwood Financial, in March.
“Historically, the payment experience for large expenses has been a huge hindrance for the growth of countless firms, so it is fantastic to see that Tranch is stepping up to the task of bringing BNPL to a much wider pool of businesses with Yobota at its side,” said Ion Fratiloiu, Yobota’s head of commercial.
“The success of Tranch so far is an important milestone for Yobota, too. If further evidence was needed, it proves the power of harnessing API connectivity, allowing firms to address niche market needs and deliver exactly the solution that customers deserve.”
Tranch was the brainchild of co-founders Philip Kelvin and Beau Allison, the former CFO and head of engineering, respectively, at fintech Trussle.
Both Tranch’s Philip Kelvin and Yobota’s Ion Fratiloiu, along with Ryan Garner, Expert Associate Partner at Bain & Company, will be appearing on AltFi’s Money Talks Webinar on Wednesday 1 June at 11am to discuss ‘Is Buy Now, Pay Later Sustainable?’.
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