Leading supply chain payments and marketplace platform, Tradeshift, has successfully raised $70 million in a recent funding round. The investment round is being led by HSBC, which is injecting $35 million, with participation also from AYTK Limited, LUN Partners Group, Fuel Venture Capital, Doha Venture Capital LLC, Notion Capital, IDC Ventures, and The Private Shares Fund. All are existing shareholders, and HSBC has also announced the launch of a strategic joint venture with HSBC aimed at revolutionizing B2B trade financing.
Source TradeShift
The funding round’s success underscores the growing importance of digital solutions in the global supply chain industry. Tradeshift’s platform enables businesses to streamline procurement processes, manage supplier relationships, and facilitate smooth payments. The investment of funds will further empower the company to expand its offerings and enhance its technology to cater to the evolving needs of its clients.
Tradeshift’s new joint venture with HSBC represents a significant milestone in the B2B trade financing landscape. The partnership combines Tradeshift’s expertise in supply chain payments with HSBC’s global financial prowess. Together, they aim to revolutionize the financing options available to businesses engaged in international trade.
Tradeshift sees recovery in the US market.
The joint venture will introduce various innovative financial services, including supply chain finance and invoice financing. By leveraging Tradeshift’s extensive network of buyers and suppliers, the joint venture aims to improve business cash flow by offering faster and more accessible financing options.
Christian Lanng, CEO and Co-founder of Tradeshift, expressed enthusiasm about the collaboration with HSBC, stating, “Our partnership with HSBC is a game-changer for the industry. By combining our digital platform with HSBC’s financial expertise, we can unlock new opportunities for businesses to thrive in the global economy.”
Amid the ongoing challenges businesses face due to the COVID-19 pandemic, the Tradeshift-HSBC venture is a timely solution. Small and medium-sized enterprises often struggle with accessing affordable financing options, hindering their growth and expansion. The joint venture aims to address this issue by providing tailored financing solutions to businesses of all sizes.
As one of the world’s leading financial institutions, HSBC brings extensive experience in global trade and finance to the partnership. The collaboration is expected to bridge the gap between traditional banking and the digital revolution, creating a more inclusive and efficient B2B financing ecosystem.
Source Tradeshift
Tradeshift’s global reach and innovative platform have made it a preferred choice for businesses seeking to digitize their supply chain operations. The company’s growing customer base includes Fortune 500 companies, Small, Medium-sized Enterprises, and government organizations.
With funding, Tradeshift is poised for accelerated growth and continued innovation in the B2B trade finance space. The company remains committed to enabling seamless transactions, facilitating global trade, and empowering businesses to thrive in an increasingly interconnected world.