The funds are earmarked for platform and ecosystem growth.
“Santander InnoVentures is a natural fit as an investor because of its commitment to support and apply emerging technologies to solve the real world challenges of its customers,” Tradeshift CEO and Chairman Christian Lanng said. “Santander has a track record of collaborating with its portfolio businesses. We are excited by the opportunities this investment will create to explore new offerings and different geographies around the world.”
“Tradeshift is at the forefront of tackling a very real business need,” Santander InnoVentures managing partner Mariano Belinky said. “Tradeshift gives enterprises the ability to work easily and efficiently with their entire supply chain, while providing SMEs with access to a predictable cash flow through procure-to-pay automation.”
Mariano Belinky, Managing Partner, Santander InnoVentures, said: “Tradeshift is at the forefront of tackling a very real business need. (They) have built an open business network on a scalable cloud-first platform that is extensible by third-party applications. This architecture is a key differentiator.
“As a result the potential to provide complementary and added value services around the Tradeshift platform is particularly powerful.”