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Goldman Sachs leads $250m Tradeshift funding round

Supply chain finance outfit Tradeshift has joined the unicorn club after closing a $250 million Series E funding round led by Goldman Sachs and Public Sector Pension Investment Board.

HSBC, H14, GP Bullhound, and Gray Swan, a new venture company established by Tradeshift’s founders, joined the round which brings Tradeshift’s total funding to more than $400 million and gives it a $1.1 billion valuation.

Tradeshift enables supply chain payments and marketplaces for more than 1.5 million businesses globally, including global giants such as HSBC, Societe Generale, Air France-KLM, DHL and Fujitsu.

Launched in 2010, the Danish firm’s ecosystem now enables alternatives for trade financing, spend and receivables management, lending and payments, and private marketplaces, helping to unlock what it claims is $9 trillion of capital trapped in online payments.

The latest funding round will be used to push expansion in Europe and Asia, and strategic investments into emerging technologies, including blockchain and artificial intelligence via its new Frontiers division.

Christian Lanng, CEO, Tradeshift, says: “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.”

Vinay Mendonca, global head, product and propositions, global trade and receivables finance, HSBC, adds: “Our partnership with Tradeshift allows us to provide fully digitised and automated working capital propositions across the entire supply chain ecosystem, supported by the breadth and depth of our global network.”

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