Tradeshift, a San Francisco, CA-based business commerce platform provider, is to raise a minimum of $70m in funding.
HSBC and the company have announced an agreement to launch a new, jointly-owned business focused on the development of embedded finance solutions and financial services apps. HSBC will make a $35m investment into Tradeshift in two stages and will join its board. The agreement is part of a funding round which is expected to raise a minimum of $70m from HSBC and other investors.
The new joint venture will allow HSBC and Tradeshift to deploy a range of digital solutions across Tradeshift and other platforms. This will include payment and fintech services embedded into trade, e-commerce and marketplace experiences, and will help enable Tradeshift to scale its business commerce proposition across the globe.
More details about the joint venture will be announced ahead of its planned launch in early 2024.
Led by Christian Lanng, CEO, Tradeshift is a business commerce platform leader in e-invoicing and AP automation, offering tools for compliant e-invoicing in 50+ countries, including China. It is also an innovator in B2B marketplaces and embedded fintech services providing them to any business that joins the network.
FinSMEs
02/08/2023