Silicon Valley Bank Users Get New Payment Option with Tranch
The Executive Headlines
“Tranch allows businesses to get a credit line by using its website. Subject to approval, the BNPL platform will pay invoices on behalf of companies and allow them to spread out repayments up to 12 months on their terms.”
Tranch, a Buy Now Pay Later (BNPL) platform with the recent failure of Silicon Valley Bank is proffering credit lines to help mitigate the effects of recent events on operational spending.
Businesses and companies may not have access to the working capital needed for managing short-term operational expenses because of the recent failure of Silicon Valley Bank. Businesses using Tranch platform have access to up to $500,000 to pay their suppliers.
Tranch is a B2B BNPL platform allowing SaaS and Professional businesses to be paid on the go and offers their consumers flexible payment options for up to 12 months.
Tranch allows businesses to get a credit line by using its website. Subject to approval, the BNPL platform will pay invoices on behalf of companies and allows them to spread out repayments up to 12 months on their terms.
By providing a ‘Pay with Tranch’ payment option during checkout, businesses bring an alternative way for their end consumers to pay up to $500,000. Also, companies can apply directly to Tranch for getting access to working capital.
Tranch is an investor-backed BNPL platform and was launched in 2021. Situated in New York and London, the key investors in the company are Global Founders Capital, Y Combinator, Capital Management, Soma Capital, and FoundersX.