New customers - highlights
PT Nilam Anugerah Internasional, a diversified industries company, announced that it will be deploying Tradeshift Pay, Tradeshift Engage and Tradeshift Buy solutions to help digitize trading relationships between the largest government-backed companies across Indonesia and their supply chains.
A large business services provider signed a procurement marketplace operator agreement with Tradeshift designed to enhance the buying experience for clients in the manufacturing industry by creating a quick and easy way to identify trusted sellers and lower pricing.
Gross Merchandise Volume across the Tradeshift platform rose by 40 per cent year over year in Q4, while the number of new seller connections to Tradeshift rose by an average of 40,000 per month. Tradeshift estimates that new customers signed over the past year will bring at least $20 billion in additional GMV within scope during the initial go-live period, with potential for significant further expansion thereafter.
“B2B marketplaces have been the number one driver of new revenues for us over the past 12 months," said Christian Lanng, CEO and co-founder, Tradeshift. "That's a real testament to our platform strategy and the underlying strength of our network. Millions of businesses use Tradeshift to connect digitally and automate transaction workflows. When it comes to delivering a B2B marketplace solution that's as robust on the back end as it is intuitive on the front end, we're building on rock solid foundations. It’s a world away from the proliferation of thinly reskinned consumer sites, masquerading as enterprise products, that fail to reflect the way businesses connect and transact.”
Tradeshift announced $200m in funding and debt in Q4 to help further accelerate network growth and product development. A proportion of the new investment going towards scaling and expanding Tradeshift's fast-growing portfolio of fintech services for buyers and sellers.
Annual charge volumes on Tradeshift Go, a virtual credit card product, surged past $2.5 billion in 2021 and more than $4bn annualized. Tradeshift Cash, which provides sellers with early payment options on the full value of their outstanding invoices has also emerged as a key driver of future revenue with massive potential to scale.
"2021 has been a transformational year for us both in terms of our business and in terms of the value proposition we can deliver to buyers and sellers,” said Christian Lanng. "Enormous growth opportunities are opening up across our entire product portfolio and we certainly do not intend to be shy about taking any steps we believe are necessary over the coming year to fully realize this potential."
Tradeshift has made a number of strategic appointments to support the next phase of the company’s growth. Marissa Mattson joins from Amazon Web Services as Chief People Officer with a particular focus on culture and engagement, talent management, talent acquisition and Total Rewards. James Stirk has been promoted to SVP Global Sales & Marketing. Dan Russi, formerly CIO at Tradeshift, will take on a new role as SVP, Global Business Operations.