Tradeshift Secures $240M Funding to Revolutionize Global Accounts Payable Automation

Tradeshift, the leading AP automation software company renowned for reducing processing costs by up to 90% for large and mid-sized businesses, today announced a landmark funding milestone by raising $240 million. This substantial investment underscores the market’s confidence in Tradeshift’s innovative approach to automating accounts payable, e-invoicing, and procurement processes. With industry giants such as DHL, Danone, HSBC, Kuehne + Nagel, and Air France KLM relying on its cutting-edge platform, Tradeshift continues to deliver significant efficiencies, saving customers over 3 million hours of manual work last year alone and slashing invoice processing expenses by a factor of ten. The infusion of capital will be strategically deployed to further expand its advanced AI-driven invoice processing capabilities, which have already achieved an impressive reduction of manual coding by up to 99.5%. Additionally, the new funding aims to bolster Tradeshift’s global compliance-as-a-service, helping businesses meet stringent e-invoicing standards in more than 70 countries, including critical markets like China and France where it is a registered Plateforme Dematerialization Partenaire (PDP). The company will also focus on enhancing its tailored onboarding approach, driving even higher e-invoicing adoption rates across its extensive supplier network—which already exceeds one million businesses in 190 countries and grows by an average of 30,000 new supplier connections each month. Recognised as the top Procure to Pay solution by Spend Matters, Tradeshift is well-positioned to lead the digital transformation journey for businesses worldwide, empowering them to digitise, automate, and grow in an increasingly competitive landscape. Find out more about this exciting development at www.Tradeshift.com.