Yobota partners with BNPL platform Tranch

London-based core banking provider Yobota has partnered with buy now, pay later (BNPL) start-up platform Tranch, which recently secured funding to expand its B2B offering.

Through the new partnership, Yobota’s architecture and API-first capabilities will enable Tranch to offer flexible payments to businesses.

Philip Kelvin, co-founder and CEO of Tranch, 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.”

The BNPL platform allows businesses to spread any expense multiple times and manage it all from one place. Its ‘Pay with Tranch’ payment method means suppliers can provide their end-customers with options when it comes to how they choose to spread out expenses, offering flexibility to pay for contracts worth between £10,000 and £250,000.

Tranch recently 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, added: “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.”

In March this year, Yobota was acquired by digital bank Chetwood Financial to boost its Banking-as-a-Service proposition.

Open Banking Expo has partnered with TransUnion to launch a Buy Now, Pay Later Symposium in July, featuring speakers from across the BNPL market.