FinTech

London-based core banking provider Yobota has announced a new partnership with buy now, pay later (BNPL) platform, Tranch.

The news follows a £3.5m funding round for Tranch and an explosion in the BNPL sector.

Founded in 2016, Yobota has built a fast, flexible, cloud-native core banking platform that allows clients to create and run cutting-edge financial products.

With the help of Yobota’s flexible architecture and API-first capabilities, Tranch can meet the demands of even the most complex customer journeys in the UK.

By embedding in the sales journeys of SaaS sellers and other service providers, Tranch allows businesses to spread any expense multiple times and manage it all from one convenient place.

Its one-stop platform equips organisations with the solutions they need to prioritise spend on growth, without ever compromising on the tools they need.

Using the ‘Pay with Tranch’ payment method, suppliers can give offer their end-customers the power to choose how they spread out expenses and a more flexible way to pay for contracts worth £10,000 to £250,000, while ensuring that they are paid upfront, faster.

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The announcement follows news that Tranch has raised £3.5 million ($4.25 million) in pre-seed equity and debt funding to expand its B2B offering.

Head of Commercial at Yobota, Ion Fratiloiu said: “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.

“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.”

Co-founder and CEO at Tranch, Philip Kelvin said: “We’re delighted to work with Yobota, the flexible modularity of the platform gives us the freedom and support to build exactly the products we need, with a fraction of the usual development work.”