Biggest news today and for a while – startup Tradeshift announced that they secured an investment of $75 million (€55 million)! The company has raised the money from Scentan Ventures, a venture capital firm based in Singapore. Tradeshift, which offers software for business-to-business sales and collaboration, announced that the aim is to move ahead with an expansion to Japan and open an office in Tokyo.
Previsouly Tradeshift has already expanded to the UK, US and China. They have earlier raised $37 million in venture funding from Notion Capital, Ru-net, Kite Ventures, Intuit, and PayPal.
“It is in the DNA of our company to do things organically and on a global scale, from developing software to developing our business – In 2013 we established offices in Suzhou, China to build supplier centric applications for the platform.” CEO Christain Lanng says
Scentan will help out on the strategic side, giving Tradeshift a hand with recruiting and product development for the local market. In exchange, Tradeshift will offer Scentan exclusive rights to product development, sales marketing, and servicing the Tradeshift platform in Japan.
“We spent a lot of time determining who the best partner would be to move Tradeshift to the next level, not just with regard to our funding, but also our global expansion strategy. Scentan Ventures has a clear understanding of our vision, and is aligned with our ambition to connect every business on the planet on one shared, open platform. Couple this with Japan’s appetite for change and innovation, and their ranking as the world’s third largest economy, and the decision was made easy. We are excited to have Scentan Ventures by our side as we enter this next exciting chapter.” Christan says.
The news is covered by various sources, and you can read more over at CNN and Trendsonline, a deeper insight over at Spend Matters, as well as Christians blogpost about it.
This is the biggest investment into a Copenhagen based startup since we have started this site, even beating Zendesks $ 60 million in 2012. Great work by the team!
