Tradeshift secured a hefty $35 million investment from HSBC, the world's biggest trade bank. The strategic partnership sets the stage for a new business endeavor, focusing on pioneering embedded finance solutions and financial services apps.
The infusion of funds from HSBC will arrive in two stages, forming a crucial part of a funding round anticipated to raise a minimum of $70 million from HSBC and other investors. This latest investment adds to Tradeshift's impressive funding history, accumulating over $1 billion since its inception in early 2010.
Tradeshift's CEO and co-founder, Christian Lanng, is thrilled with the collaboration, expressing his enthusiasm for the transformative potential of the partnership. With Tradeshift's robust platform supporting over $260 billion in annual gross merchandise value for one million business users, HSBC's global infrastructure and reputation provide the perfect complement.
Lanng emphasizes the shared vision of creating a trade network that empowers businesses globally, fostering economic opportunities. This groundbreaking venture is a testament to Tradeshift's decade-long dedication to innovation and product architecture.
As the dynamic partnership unfolds, the fintech industry eagerly anticipates the rise of revolutionary financial solutions from Tradeshift and HSBC's combined strengths. The future looks brighter than ever as the two industry giants unite to shape the future of trade and commerce worldwide.