– USA, CA – 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. 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 advancementof the global procure-to-pay category over the past 12 months, including:
Tradeshift is a global network and platform that connects buyers and suppliers. It transforms the way companies buy, pay, and work with suppliers. Tradeshift connects 800,000 users across more than 190 countries. It is headquartered in San Francisco with offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo, and Munich.
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