Elite, a global leader in legal financial management, has announced the acquisition of Tranch, a cutting-edge platform specializing in invoice automation and flexible payment solutions.
Founded in 2021 by Philip Kelvin and Beau Allison, Tranch has revolutionized law firm billing by streamlining payment processes, improving cash flow, and enhancing operational efficiency.
How Tranch Transforms Legal Payments
Tranch offers a suite of payment solutions, including:
✅ Pay Now – Instant bank transfers via FedNow and the Real-Time Payment Network
✅ Pay by Card – Secure virtual card processing
✅ Pay Later – Flexible installment plans for clients while ensuring upfront cash flow for firms
These features allow law firms to accelerate revenue collection, manage higher caseloads without expanding staff, and maximize profitability.
Elite’s Vision for the Future
Mark Dorman, CEO of Elite, emphasized the strategic importance of this acquisition:
“Elite is committed to equipping law firms with the SaaS solutions they need to operate efficiently and grow with confidence. By integrating Tranch’s innovative payment technology into our platform, we will empower law firms to reduce payment delays, improve cash flow, and enhance financial management.”
Tranch’s Rapid Growth & Future Plans
Philip Kelvin, CEO of Tranch, highlighted the need for innovation in legal financial operations:
“Law firms have traditionally lagged in adopting modern payment technologies, leaving significant inefficiencies in invoice-to-payment processes. In 2024, Tranch tripled its payment volume, helping many of the world’s largest law firms—including Elite customers—automate and accelerate payments.”
With this acquisition, Tranch and Elite will work together to scale these capabilities, ensuring law firms benefit from faster payments, improved cash flow, and cutting-edge financial automation.
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on fintech innovations, regulatory developments, industry insights, events, and collaborations between banks, insurers, and fintechs. A platform for C-level executives to submit thought leadership content for their peers. Subscribe for updates!
