Tradeshift recently announced a new $70 million funding round, highlighting its continued confidence in its innovative technology and ability to revolutionize traditional supply chain processes. HSBC led the round with additional participation from AYTK Limited, LUN Partners Group, Fuel Venture Capital, Doha Venture Capital LLC, Notion Capital, IDC Ventures, and The Private Shares Fund.
This significant investment delivers a solid foundation to scale Tradeshift’s global trade network of over a million digitally connected businesses. And the company plans to enhance the range of value-added services accessible through its platform, focusing on product development across its blend of SaaS, B2B marketplace, and embedded financial services. Tradeshift also plans to explore potential M&A activities to expand its value proposition for buyers and suppliers.
This investment solidifies Tradeshift’s position as a leader in the industry and paves the way for transformative initiatives. And Tradeshift and HSBC also announced their intention to create a joint venture designed to bring a range of digital solutions, including marketplace commerce and embedded finance services, to their respective customers. More details of the joint venture will be announced ahead of the launch in the first half of 2024.
KEY QUOTE:
“We’ve been overwhelmed by the belief expressed by investors in our vision and execution strategy. We’ve proven the value we can unlock by bringing digital trade and financial services together on a single platform.”
“Tradeshift is already the world’s largest network of its kind for B2B trade, encompassing every interaction between buyers and suppliers. Our aspirations far outstrip this achievement, however, and our investors can see that we’re ready to kick through the gears. With their support, we can now extend our advantage by thinking bigger, acting faster, and delivering at an even greater scale. We’re on a mission to revolutionize the way business operates.”
― Christian Lanng, CEO and co-founder at Tradeshift
