Santander InnoVentures invests in Tradeshift
Tradeshift gets investment from Santander InnoVentures
Business commerce and supply chain finance platform Tradeshift has got an investment from Santander InnoVentures.
Christian Lanng, CEO and chairman at Tradeshift, describes Santander InnoVentures as “a natural fit as an investor”.
Earlier this year, the San Francisco-based fintech firm completed its series D finding round, which raised $75 million from new and existing investors, such as HSBC and American Express Ventures.
Tradeshift says it is used by “a broad range of Fortune 500 companies” as well as large institutions, including DHL, Zurich Insurance Group, and National Health Service.
The company recorded an impressive 250% growth rate in 2015 for its “procure-to-pay capabilities, faster payments services and predictable cash flow solutions”.
Mariano Belinky, managing partner at Santander InnoVentures, comments that the company “is at the forefront of tackling a very real business need”. He explains: “Tradeshift gives enterprises the ability to work easily and efficiently with their entire supply chain, while providing SMEs with access to a predictable cash flow through procure-to-pay automation.
“Tradeshift has built an open business network on a scalable cloud-first platform that is extensible by third-party applications. This architecture is a key differentiator. As a result, the potential to provide complementary and added value services around the Tradeshift platform is particularly powerful.”
