Tradeshift, a B2B commerce platform with embedded FinTech services, has secured more than $200m in funding and debt from a combination of existing and new investors.
The funding round saw participation from Koch Industries, one of the largest privately held companies in the US. As well as IDC Ventures, LUN Partners, Private Shares, and Fuel Capital, who increased their existing stake in Tradeshift’s combined portfolio of enterprise SaaS, marketplace, and FinTech products
Headquartered in San Francisco, Tradeshift said its vision is to connect every company in the world, “creating economic opportunity for all.” The FinTech’s cloud-based platform helps buyers and suppliers digitize invoice processes, automate accounts payable workflows and scale quickly.
Tradeshift said the capital will be used to optimise its growth and balance sheet to continue scaling the business.
The company has recently reported that the cumulative value of transactions processed across its network had passed the $1tn mark, having doubled in two years. Annual charge volumes on Tradeshift Go are predicted to exceed $2.5bn in 2021, a 600% year on year rise.
What’s more is the company is also seeing phenomenal early growth for Tradeshift Cash, a digital, real-time factoring product launched by Tradeshift earlier this year to help suppliers access fast and predictable cash flow.
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