NEW YORK--(BUSINESS WIRE)--Tropic, the all-in-one SaaS procurement platform that helps companies optimize their software spend, today announced a partnership with Tranch, a B2B Buy Now Pay Later (BNPL) provider, to allow its customers to pay their software costs on their terms. The Tranch partnership is the latest addition to Tropic's robust SaaS procurement solution that streamlines every stage of SaaS purchasing from discovery to purchase to management. In addition to Tropic customers reducing their annual SaaS spend by 20%, the BNPL option gives companies flexibility in payment options, giving high growth companies more control over their cash flow.
“In this period of economic uncertainty, cash is definitely king, but effective cash flow management is weighing heavily on the minds of many growing businesses. With software now a top three spending category for most companies, today's businesses need more payment options that offer flexibility, seamlessness and predictability for responsible software spend,” said David Campbell, CEO and co-founder of Tropic. “The addition of a BNPL option is another way Tropic is helping its customers make SaaS buying a strategic advantage, by allowing them to pay on their terms.”
Under this new partnership, Tropic customers can submit invoices via Tranch, who will pay SaaS suppliers in full, up-front. Customers then pay the balance over any term up to 12 months. Customers will not incur any Tropic fees for using the BNPL option and can often offset their Tranch fees with discounts typically offered by suppliers for up-front payments. Customers simply connect bank accounts via Plaid to start instantly and be approved.
“The payment experience for large invoices from software to legal fees is a major blocker to growth for countless businesses,” said Philip Kelvin, co-founder and CEO of Tranch. “We are excited to partner with Tropic as they help companies take control of their SaaS spend by providing these businesses with flexible options for how they pay for their software invoices. Tranch’s BNPL allows companies to prioritize the spend they need for growth, without compromising the SaaS tools they need to get there.”
About Tropic
Tropic makes buying and managing SaaS ridiculously easy. Companies of all sizes—from startups to Fortune 500s—use Tropic to buy software, manage contracts, and guarantee savings. By delivering a rich combination of data, tools, and services, Tropic enables customers to save an average of 23% and 400+ hours annually on software buying. Tropic manages hundreds of millions in spend for companies like Daily Harvest, Nextdoor, Intercom, Vimeo, and Zapier. Tropic is also hiring, learn more at www.tropicapp.io.
About Tranch
Tranch is a B2B buy now pay later (BNPL) platform enabling SaaS and Services providers to be upfront and offer their customers flexible payment options up to 12 months, By offering a ‘Pay with Tranch’ payment method, SaaS other services providers their end-customers with an alternative way to pay for contracts worth up to $500,000.
Tranch was founded in 2021 and is based out of New York and London with backing from Global Founders Capital, Y Combinator, Soma Capital, FoundersX, TracVC and more.