Soma Capital, a New York-based backers of Deel, Razor Pay and Rippling, and FoundersX, an investor behind Jeeves and Salt Security, led a $100m seed round in Tranch, a buy now pay later platform for SaaS sellers and services providers, with participation from Clear Haven Capital Management, Global Founders Capital and Y Combinator. “Since securing our pre-seed funding and completing the Y Combinator programme, the total value of invoices we’re handling every month has increased tenfold. Traction is growing fast because suppliers and business buyers alike simply understand and like what Tranch can do for them. 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 so that every SMB that needs it can ‘pay with Tranch’ - flexibly and on their own terms,” Philip Kelvin, Tranch, Co-founder and CEO.