Supply chain finance firm Tradeshift raises $ 200 million

Dec.9 (Reuters) – Supply chain finance group Tradeshift has secured more than $ 200 million in financing and debt from new and existing investors, including industrial conglomerate Koch Industries, a statement said on Thursday. of the society.

The funding round gives San Francisco-based Tradeshift a valuation of more than $ 2 billion, a source familiar with the matter told Reuters.

The company, whose cloud-based platform helps buyers and suppliers digitize invoice processing, automate accounts payable workflows and scale rapidly, declined to comment on the assessment. In 2018, Tradeshift said its valuation was $ 1.1 billion when it announced a $ 250 million funding round.

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Tradeshift, which counts American Express Ventures, HSBC (HSBA.L), Goldman Sachs (GS.N) and Wipro Digital among its investors, recently saw the cumulative value of transactions processed on its network cross the $ 1,000 billion mark. , having doubled in two years.

“Part of the capital will be used to refinance part of our balance sheet with a focus on continued long-term growth,” Tradeshift founder and CEO Christian Lanng told Reuters.

Trade and supply chain finance, where lenders pay a company’s suppliers on behalf of the company in exchange for a royalty and reimbursement at a later date, has exploded during the pandemic of coronavirus.

Investment funds are also increasingly providing capital to fund these transactions, as they seek yield in an environment of record interest rates.

However, the collapse of UK supply chain finance firm Greensill in March raised concerns among investors about some of the risks involved and, in some cases, the industry’s lack of transparency.

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Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong

Our Standards: Thomson Reuters Trust Principles.

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