US-based invoicing platform provider Tradeshift attracted $75m today in series D funding from investors including financial services firm HSBC and payment processing service American Express’ corporate venturing arm American Express Ventures.
The round was led by Data Collective and also featured CreditEase’s Fintech Investment Fund, Notion Capital and Pavilion Capital.
Tradeshift provides a business platform that enables companies to invoice and receive payments from suppliers. The company claims to process several billion dollars per month across 190 countries.
The series D round will help Tradeshift further developer its application, platform and business-to-business marketplace ecosystem. The company plans to add functionalities including trade financing, spend and receivables management as well as lending and payments.
Additionally, the company will boost user adoption rates and scale its sales, product and engineering efforts.
Matt Ocko, co-managing partner and co-founder of Data Collective, will join Tradeshift’s board of directors.
Tradeshift previously obtained $75m in series C funding from Scentan Ventures in 2014. Accounting software developer Intuit invested $10m in 2013, following a $17m funding round in October 2011 co-led by Ru-Net and Kite Ventures with participation from Notion Capital.
Notion also injected $7m in May 2011, following a seed round by payment services provider PayPal in 2010 that was reportedly worth between €12m ($16m) and €15m.