Tradeshift, a London, UK- and Copenhagen, Denmark-based business-to-business social network, has raised $17m in funding.
The round was led by Moscow-based ru-Net and Kite Ventures, with participation from existing investor Notion Capital, which increased its stake in the company.
This latest round values Tradeshift at $137m.
The company intends to use the funds to accelerate product development, expand into North America early next year and further drive large enterprise adoption of the platform.
Led by CEO and co-Founder Christian Lanng, Tradeshift connects businesses of all sizes to help them work collaboratively and better manage tasks such as invoicing and cash flow, powered by the latest social technologies.
The company recently launched Instant Payments, a service that gives users instant and early access to invoiced funds without having to wait for standard payment terms.