Specializing in supply chain management, the Danish company Tradeshift raised $ 250 million during the E-series financing round, led by Goldman Sachs and PSP Investments. This is reported in a press release of the company.
Financing participated financial conglomerate HSBC, venture company H14, American Express Ventures and Santander InnoVentures took part in financing too. To date, the total amount of Tradeshift venture capital investments attracted is $ 400 million, and the company's value is estimated at $ 1.1 billion.
The funds will be used to invest in emerging technologies, such as artificial intelligence and blockchain, and to expand the company to the markets of Europe and Asia. The development of new technologies will be handled by the Frontiers division, created by Tradeshift in January this year.
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. We welcome Goldman Sachs and PSP Investments as our newest investorsand look forward to their valuable contributions as we enter our next growth phase.
CEO and Co-Founder, Tradeshift
Also last week, the Danish company launched the payment system oriented to B2B-segment called the Tradeshift Pay. It is a cloud blockchain-based platform for managing supply chains.