Supply chain specialist Tradeshift raises $200m in funding and debt
Tradeshift has secured more than $200 million in funding and debt from existing and new investors, including Koch Industries, IDC Ventures, LUN Partners, Private Shares and Fuel Capital.
Tradeshift says its “unique, open network model is transforming the way business-to-business (B2B) buyers and suppliers find, connect and transact with one another”.
Commenting on the investment, Jeff Randsell, managing director and founding partner at Fuel Venture Capital Partners, says: “We look to invest in companies we believe can become category winners. Tradeshift’s combined Software-as-a-Service (SaaS) and embedded financial services offering is well-positioned at the forefront of what we see as the next wave of digital transformation.
“Further, it is clear that digital networks are the future of B2B software, just look at Slack, LinkedIn, and Github to see the trend.
“Tradeshift has pioneered the world’s first large-scale global trade network in the cloud with impressive growth rates through the pandemic and a compelling proposition to drive future scale.”
Tradeshift recently reported that the cumulative value of transactions processed across its network had passed the $1 trillion mark, having doubled in two years. Annual charge volumes on Tradeshift Go are predicted to exceed $2.5 billion in 2021, a 600% year-on-year rise, making it one of the world’s largest fintech card programmes.
The company is also seeing growth for Tradeshift Cash, a digital, real-time factoring product launched by Tradeshift earlier this year.
Founded in 2009 and based in San Francisco, US, Tradeshift says its platform is now home to a community of buyers and sellers across 190+ countries. Its stated vision is “to connect every company in the world, creating economic opportunity for all”.
In early 2020, Tradeshift raised $240 million.