Yobota recently announced its partnership with Tranch, a buy now, pay later (BNPL) startup platform on a mission “to deliver more flexible payments to fast-growing businesses.”
Founded in 2016, London-based core banking provider Yobota claims it 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 organizations 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.”
The Yobota Platform already “powers multiple brands for Chetwood Financial, one of the UK’s challenger banks, making it a tried and tested solution in a highly regulated environment.”
The recent acquisition of Yobota by Chetwood Financial “means even greater opportunity to support innovative financial offerings through their end-to-end Banking as a Service (BaaS) proposition.”
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, Yobota, Ion Fratiloiu said:
“The Yobota team is thrilled to celebrate the launch of Tranch on our core banking platform for their UK business, with this announcement marking the beginning of a powerful partnership and an important step towards setting a B2B e-commerce revolution in motion. 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.”
Fratiloiu added:
“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. We are delighted to be supporting the ambitions of another innovative UK company.”
Co-founder and CEO, 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.”
As noted in the update shared with CI, Yobota is “a London-based technology company.”
Founded in 2016, Yobota has “built a fast, flexible, cloud-native core banking platform which allows clients to create and run innovative financial products.”