Supply chain management firm Tradeshift has announced plans to further expand into blockchain following a $250 million Series E funding round led by Goldman Sachs and PSP Investments.
The round, which also saw HSBC, H14 and others participate, brings Tradeshift's total funding to more than $400 million and values the firm at $1.1 billion, according to a press release.
The investment will be used for growth initiatives, including strategic investments into emerging technologies like blockchain and artificial intelligence, as well as further expansion in Europe and Asia.
The new technologies will be taken forward by its Frontiers division, launched in January.
While the release doesn't make explicit Tradeshift's additional plans for blockchain, the firm launched a B2B payments service called Tradeshift Pay just last week.
The cloud-based platform offers supply chain payments, supply chain finance and blockchain-based early payments, the company indicates.
The firm also joined the Linux foundation-backed Hyperledger blockchain consortium in October of last year, saying the move was part of a desire to explore open blockchain technologies in order to accelerate innovation in B2B commerce.
"We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy. This investment will enable us to continue our rapid growth and consolidate our leadership position."
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Tradeshift Plans Blockchain Push After $250 Million Funding
Publicado en May 30, 2018
by Coindesk | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.