Tradeshift receives $75 million in funding

Posted Feb 25, 2014

Tradeshift is a startup that offers free electronics invoicing with payment management and buyer-seller relationship tools. Tradeshift has received $75 million in funding from Singapore-based Scentan Ventures. Tradeshift has raised $112 million in total funding. Previous investors in Tradeshift include Intuit and PayPal. Tradeshift is known for offering free invoicing.

The company was founded by Christian Lanng, Mikkel Hippe Brun, and Gert Sylvest. Tradeshift launched in May 2010 and is used in more than 150 countries by February 2011.

Tradeshift offers buyers to receive discounts if they pay their suppliers quickly.The longer that the buyers delay payment, the smaller the discount gets. Around 500,000 businesses are connected to the service where they can set up a public profile.

[Source: VentureBeat]