Elite today (6 January) announced its acquisition of Tranch, a B2B invoice automation and payments platform that provides invoice management and turnkey payment options for law firms and their clients.
Founded in 2021 by Philip Kelvin and Beau Allison, Tranch enables law firms to streamline and automate their payment processes and increase cashflows through improved speed and efficiency in invoice delivery, billing and collections. Tranch’s electronic payment offerings include a ‘pay now’ via bank transfer option, managed through FedNow and the Real-Time Payment Network; ‘pay by card’ including virtual card terminals for billing teams; and ‘pay later’ which allows law firm clients to spread out their payments over time.
“At Elite, our focus is on providing law firms the SaaS solutions they need to lead their business into the future with confidence, and help them gain operational efficiencies, optimize resource allocation and improve expense management,” said Mark Dorman, CEO of Elite. “Tranch is an innovative leader that is revolutionizing payment processes for law firms, and we look forward to welcoming Philip, Beau and the entire Tranch team to Elite. 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.”
Kelvin, who is CEO of Tranch, said: “In 2024, Tranch more than tripled its payment volume with many of the largest global law firms, including Elite customers, to help facilitate easier and faster payments through automation and innovation. We are excited to join Elite as we scale our capabilities further and continue our rapid, product-led innovation.”