Tradeshift, a supply chain payments and marketplaces late-stage startup which recently added blockchain to its armory, has today raised $250 million in a Series E funding round led by Goldman Sachs and Public Sector Pension Investment Board (PSP Investments).
Additional participation comes from HSBC, H14, GP Bullhound and Gray Swan, a new venture company established by Tradeshifts founders.
The new round of financing brings Tradeshifts total funding to more than $400 million.
The company claims its valuation has now passed $1.1 billion.The new investors join existing backers, including HSBC, American Express Ventures, the CreditEase Fintech Investment Fund, Notion Capital, Santander InnoVentures and others.
Mikkel Hippe Brun, Tradeshifts GM of China and co-founder, will join Tradeshifts board of directors.Tradeshift CEO and co-founder Christian Lanng said in a statement: 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.Given the rapid increase in B2B online transactions, online marketplaces are no longer just for consumers.
Tradeshift has established itself as a leader in supply chain commerce by enabling corporations around the globe to take greater control of their supply chains, said Darren Cohen, global head of Principal Strategic Investments at Goldman Sachs.