Tranch

Tranch operates an invoice-to-payments platform that lets enterprises collect payment on large invoices faster while giving their business clients a choice of settlement methods. The product suite includes Pay Later (spreading invoices over 2 to 12 months), Pay Now via FedNow and the Real-Time Payment Network, Pay by Card through a PCI-compliant portal with virtual card terminals for billing teams, Pay by Crypto, and an embedded, brandable checkout that can be deployed without integration work. Tranch pays the supplier the invoice value upfront and then handles underwriting, collections, payments and regulatory obligations with the paying business.

The company began as a business-to-business buy-now-pay-later offering for SaaS vendors and services providers, with a 'Pay with Tranch' checkout that suppliers could add to their billing flows. Invoice limits cited over time range from $10,000-$250,000 at launch to up to $500,000 and later up to $1M. Tranch subsequently concentrated on the legal sector, integrating with enterprise ERP systems and working with large global law firms on invoice delivery, billing and collections automation. It also uses Open Banking data to forecast firms' accounts receivable rather than relying solely on business credit reports. Tranch is the trading name of Tranch, Inc., registered in Delaware, with UK group entity Zero Degress Holding Company Limited registered with the FCA (reference 965124).

Founding story

Tranch was co-founded in 2021 by Philip Kelvin (CEO) and Beau Allison (CTO), who had worked together at a consumer fintech — reported as digital mortgage company Better.co.uk in one profile and Trussle in another — where Kelvin was CFO and Allison Head of Engineering. From that experience they concluded that large B2B and legal-industry invoice payments were inflexible, negotiation-heavy, often offline and email-based, and carried premiums for instalment terms, and set out to bring consumer-style payment flexibility to business invoices.

Business model

Tranch sells to suppliers (SaaS vendors, professional services firms and, latterly, law firms) that embed its checkout or connect it to their ERP, while the payment plans are extended to those suppliers' business customers. Tranch advances the invoice value to the supplier and assumes the underwriting, collection and regulatory workload on the buyer side.

Monetization is transaction-based and, per one secondary profile, concentrated on the Pay Later product: a percentage fee on the invoice value starting at 1% and varying with assessed business risk, payable across the payment term, with Pay Now and Pay by Card offered without fees.

Traction

In the six months to the end of 2022, monthly invoices spread into flexible payments on the platform increased tenfold, with millions of dollars of invoices spread across services and SaaS verticals. A September 2024 third-party profile reported average customer revenue of about $1.5 billion, customers collectively invoicing over $10 billion annually, a deal with a US law firm with roughly $750 million in annual revenue, and a 25% reduction in invoice discounting at Gunderson Dettmer. The CEO stated that Tranch more than tripled payment volume in 2024 with many of the largest global law firms.

Latest developments

Tranch was acquired by Elite Technology on 3 January 2025, announced 6 January 2025, with financial terms undisclosed. Elite's CEO Mark Dorman said Tranch's products would be embedded in Elite's SaaS portfolio to improve law firms' work-to-cash processes; Kelvin said the team would scale its capabilities within Elite. Tranch's site also markets a joint offering with Elite for invoice management and turnkey payment options for law firms.