- Data Collective leads, and HSBC, American Express Ventures, among others join as new investors
San Francisco – Tradeshift today announced that new and existing investors have joined the company’s $75 million Series D funding, including venture capital firm and round leader Data Collective (DCVC), HSBC, American Express Ventures, Notion Capital, CreditEase Fintech Investment Fund, managed by CreditEase, and Pavilion Capital, a subsidiary of Temasek Holdings. Matt Ocko, co-Managing Partner and co-founder of DCVC, will join Tradeshift’s board of directors.
Tradeshift, which saw 250% growth in transacted value year over year (2014 vs. 2015) on its business network, serves over 800,000 users and counts dozens of the Fortune 1000 as customers. The company processes billions of dollars per month in supply chain transactions across more than 190 countries.
The new funding fuels Tradeshift’s growing application, platform and business-to-business marketplace ecosystem development. Tradeshift will use the funding to serve a wider range of global customers as it expands further into trade financing, spend and receivables management, lending and payments. It will also invest more resources to boost user adoption and facilitate rapid growth as it scales its sales, product and engineering operations.
“Tradeshift continues to attract interest and investment because of our unique approach,” said Tradeshift CEO and Co-Founder, Christian Lanng. “Tradeshift has built an open business network on a scalable cloud-first platform that is extensible by third-party apps. Customers, partners, and investors want to get behind our bold vision because of the huge wins ahead for customers engaged in digital transformation.”
This funding follows a number of initiatives that have propelled Tradeshift’s advancement of the global procure-to-pay category over the past 12 months, including:
- Broadened capabilities to help companies buy, pay, as well as manage supplier risk
- New customers within the Fortune 1000, including Zurich Insurance Group, NHS SBS, LinkedIn, SAPA, RWE, Eberspächer Group, Tech Data, SUEZ, a major customer in the entertainment industry, one of the world’s largest fashion retailers, and Veolia – a joint customer with Xerox Business Services
- The rapid adoption of small-and-medium-sized businesses on the Tradeshift platform, expanding the total user base to over 800,000
- Strategic partnerships with Microsoft, Xerox Business Services, and China-based Baiwang
- Over 400% growth in supplier accounts as a result of Tradeshift’s superior onboarding methodology, which is 12x faster than the industry average
“Tradeshift has developed a smart supply chain solution that integrates seamlessly with multiple platforms,” said Stuart Tait, Global Head of Trade and Receivables Finance for HSBC. “We look forward to developing our collaboration with them on the back of this investment; learning from each other and bringing the benefits of digital transformation to our customers.”
For additional information please visit http://tradeshift.com/press