Tranch Acquired by Elite Technology
Deal News | Jan 06, 2025 | Business Cloud
Elite Technology, a US-based tech company servicing the legal sector, has acquired Tranch, a London FinTech firm founded in 2021. Tranch, known for its buy now, pay later platform aimed at law firms, has developed innovative solutions to enhance payment processing and reduce inefficiencies in financial operations. The acquisition is expected to offer Elite's clients increased flexibility and efficiency in managing finances. Despite the strategic importance of the deal, financial details have not been revealed.
Sectors
- Financial Technology
- Legal Services
- Software as a Service (SaaS)
Geography
- United States – Elite Technology is based in the US, and its services are aimed at global law firms with US operations.
- United Kingdom – Tranch is a London-based company and acts as one of the key geographies for the deal.
Industry
- Financial Technology – Tranch operates within the FinTech sector, providing innovative payment solutions to law firms.
- Legal Services – Elite Technology provides financial management solutions to law firms, indicating its involvement in the legal services sector.
- Software as a Service (SaaS) – Both Tranch and Elite are focused on delivering SaaS solutions to the legal industry.
Financials
- 81m – In 2023, Tranch raised 81 million in equity and debt funding.
- Undisclosed – The deal size or acquisition amount for the purchase of Tranch by Elite Technology has not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elite Technology | Acquirer | Company | A US-based tech company specializing in financial management solutions for law firms. |
| Tranch | Target Company | Company | A FinTech company providing a buy now, pay later platform for law firms. |
| Philip Kelvin | CEO of Tranch | Person | Co-founder and CEO of Tranch, responsible for strategic vision and growth. |
| Beau Allison | CTO of Tranch | Person | Co-founder and CTO of Tranch, overseeing technology and innovation. |
| Mark Dorman | CEO of Elite | Person | CEO of Elite Technology, leading the integration of Tranch into Elite's offerings. |