Tranch acquired by Elite to enhance payment solutions for global law firms
B2B invoice-to-payments platform Tranch has been acquired by Elite, a US-based fintech specialising in financial services for law firms, for an undisclosed sum.
Elite has acquired Tranch for an undisclosed sum
Founded in 2021, Tranch offers solutions such as invoicing, credit insights, recurring payments, pay later options, virtual card terminals for billing teams, and more.
In 2023, the paytech raised $100 million in a mix of seed equity and debt funding led by Soma Capital and FoundersX to fuel its US expansion.
Elite states that integrating Tranch’s solutions and team will enhance its ability to “augment law firms’ financial and business management processes” by delivering enhanced “visibility and management of revenue cycles”.
Established in 1947, Elite claims that “three-quarters of the Am Law 200 and four-fifths of the Global 200” use “at least one” of its solutions, which span financial reporting, billing, invoicing and payments.
Commenting on the deal, Mark Dorman, CEO of Elite, says that by “embedding Tranch’s products within our portfolio of SaaS solutions, we will offer our customers greater choice and flexibility in managing their work-to-cash process, which will help law firms reduce payment delays, increase cashflows and, ultimately, boost profitability”.
