Wednesday 30th May, 2018
Tradeshift has announced that it is raising $250 million in a Series E funding round led by Goldman Sachs and Public Sector Pension Investment Board (PSP Investments).
HSBC, H14, GP Bullhound, and Gray Swan, a new venture company established by Tradeshift’s founders have also joined the round. The new round of financing brings Tradeshift’s total funding to more than $400 million. Company valuation is now at $1.1 billion.
“We are very happy with this validation of our vision,” said Tradeshift CEO and Co-Founder Christian Lanng. “We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy. This investment will enable us to continue our rapid growth and consolidate our leadership position. We welcome Goldman Sachs and PSP Investments as our newest investors and look forward to their valuable contributions as we enter our next growth phase.”
The latest funding round will be used for continued global expansion of Tradeshift in Europe and Asia; growth of transacted volume and value across its platform; and strategic investments into emerging technologies, including blockchain and artificial intelligence via its Frontiers division, which was launched in January 2018.
Vinay Mendonca, Global Head of Product and Propositions, Global Trade & Receivables Finance at HSBC adds, "Our partnership with Tradeshift allows us to provide fully digitised and automated working capital propositions across the entire supply chain ecosystem, supported by the breadth and depth of our global network. We are really excited to offer our clients a full range of integrated propositions across the financing and payments spectrum."
"Given the rapid increase in B2B online transactions, online marketplaces are no longer just for consumers. Tradeshift has established itself as a leader in supply chain commerce by enabling corporations around the globe to take greater control of their supply chains," said Darren Cohen, Global Head of Principal Strategic Investments at Goldman Sachs.
Tradeshift enables supply chain payments and marketplaces for more than 1.5 million businesses globally, including large enterprise brands such as Air France-KLM, DHL, Fujitsu, HSBC, Siemens, Societe Generale, Unilever, and Volvo.