INSUBCONTINENT EXCLUSIVE:
in the context of a new economic environment that has become skeptical toward tech IPOs in the wake of the WeWork debacle, which saw public
In a statement, the company said it has reported more than two years of strong growth in quarterly revenue, and recorded its best-ever year
in 2019, including more than 60% revenue growth, with more than 250 deals closed (the average deal size was doubled)
Furthermore, more than 40% of the total cumulative transaction volume across its platform came in the past year, it says.Tradeshift said the
additional capital will be used to further momentum it has seen across core product lines, including Tradeshift Pay, which was ranked in
2019 as the strongest ePayables SaaS solution in the industry by analyst firm Ardent Partners, and Tradeshift Go, with more than 200 new
customers signed in 2019.The new investment will also support the monetization of its trade finance proposition across a user base of over
reducing headcount in its expensive San Francisco offices, but reallocating resources and talent to locations where that is more affordable
this leaner, meaner Tradeshift is going to continue to weather this year, at the very least, as a private company before, most likely,
looking toward its long-awaited IPO in the mid-term.Previous investors in the company have included Goldman Sachs, the Public Sector Pension
Express Ventures, the CreditEase Fintech Investment Fund, Notion Capital, Santander InnoVentures and others
In 2018, when it raised $250 million, it claimed its valuation passed $240 million.
