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Tradeshift to boost product line with $240 mn funding round

tradeshift

Christian Lanng, CEO of Tradeshift

US-based supply chain payments provider, Tradeshift has announced a funding round of $240 million in equity and debt from a combination of existing and new investors.  The supplier states that the funding is expected to facilitate growth and assist in its goal of achieving profitability in the near future.

“It’s clear that the investor community has a strong focus on growth combined with profitability and they like our plan. As a network business, growth is always going to be a key part of our story. But it’s also important that we manage that growth responsibly,” said Christian Lanng, CEO of Tradeshift.

The amount raised will be utilised in accelerating its network finance program, that provides liquidity to companies in 100+ countries. It is also expected to enhance the company’s product lines including Tradeshift Pay and Tradeshift Go.

“As we reach the next phase in the maturity of our business, our focus for the coming year will be about doubling down in areas where we’re seeing the greatest momentum while continuing to ensure we have the necessary balance in place to fully capitalize on the enormous opportunities in front of us,” he continued.

Headquartered in San Francisco, Tradeshift drives supply chain innovation for the digitally connected economy and helps buyers and suppliers to digitize all their trade transactions, collaborate on processes, and connect with supply chain apps.

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