Copenhagen-founded Tradeshift has announced a $75 million Series D investment round led by Data Collective (DCVC) with several other participants in HSBC, American Express Ventures, Notion Capital, CreditEase Fintech Investment Fund, and Pavilion Capital.
The global network for connecting buyers and sellers, which is now headquartered in San Francisco, intends to expand further into trade financing, payments, and lending as well as investing in more resources to improve user adoption and scale its sales, product and engineering operations.
It currently serves 800,000 businesses in 190 countries and claims to have seen a 250% growth in transacted value year over year (2014 and 2015). The company has offices in Copenhagen, London, Munich, New York, Paris, Suzhou, and Tokyo.
“Tradeshift has built an open business network on a scalable cloud-first platform that is extensible by third-party apps,” said Tradeshift CEO and co-founder, Christian Lanng (pictured). “Customers, partners, and investors want to get behind our bold vision because of the huge wins ahead for customers engaged in digital transformation.”
“Tradeshift’s deep engineering for global scale transaction volume, machine learning for seamless invoice processing, fraud prevention, and 360-degree mobile workforce enablement, are the very things that enable the high-speed, risk-free solution deployments powering its global growth and its customers’ success,” said Matt Ocko, co-managing partner at DCVC, who will be joining Tradeshift’s board of directors.
CreditEase Fintech Investment Fund founder and CEO Tang Ning said it will be assisting Tradeshift in expanding into China and building business relationships in the country.