Supply chain payments company Tradeshift has announced a $250 million Series E funding round led by Goldman Sachs and Public Sector Pension Investment Board (PSP Investments).
Other investors participating in the round include HSBC, H14, GP Bullhound, and Gray Swan, a new venture company established by Tradeshift’s founders. They join existing investors including American Express Ventures, CreditEase Fintech Investment Fund, Notion Capital, Santander InnoVentures, and others.
Founded in 2009, Tradeshift enables supply chain payments and marketplaces for over 1.5 million businesses globally, including large enterprise brands such as Air France-KLM, DHL, Fujitsu, HSBC, Siemens, Societe Generale, Unilever, and Volvo. The new round brings Tradeshift’s total funding to more than $400 million at $1.1 billion.
Tradeshift said that it will dedicate the new funding towards core strategic initiatives, including continued global expansion of Tradeshift in Europe and Asia; growth of transacted volume and value across its platform; and strategic investments into emerging technologies, including blockchain and artificial intelligence via its Frontiers division, which was launched in January 2018.
Earlier this month, the company launched a cloud platform which will bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified solution.
“We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy. This investment will enable us to continue our rapid growth and consolidate our leadership position,” Tradeshift CEO and Co-Founder Christian Lanng. “We welcome Goldman Sachs and PSP Investments as our newest investors and look forward to their valuable contributions as we enter our next growth phase.”
