Tranch Offers Credit Lines to Silicon Valley Bank Customers to Support Operational Spend
NEW YORK–(BUSINESS WIRE)–#fintech—Tranch is offering credit lines to help minimize the impact of recent events on operational spend.
Businesses may not have access to the working capital required for short-term operational spend due to the recent collapse of Silicon Valley Bank. Businesses who sign up to Tranch can pay their suppliers with a flexible credit line up to $500,000.
Companies can visit this link to apply for a credit line. Subject to approval, Tranch will pay invoices on behalf of businesses and enable them to spread out repayments up to 12 months on their terms.
Tranch is a B2B Buy Now Pay Later (BNPL) platform enabling SaaS and Professional Services providers to be paid upfront and offer their customers flexible payment options up to 12 months.
By offering a ‘Pay with Tranch’ payment method at checkout, providers are able to offer an alternative way for their end-customers to pay for invoices worth up to $500,000. In addition, businesses can apply directly to Tranch to access working capital.
Tranch was founded in 2021 and is based out of New York and London with backing from investors including Clear Haven Capital Management, Global Founders Capital, Y Combinator, Soma Capital, FoundersX.