Company’s latest Series D funding round fuels Asia-Pacific expansion
SAN FRANCISCO– Tradeshift, the leading business commerce platform, announced today the opening of an office in Sydney, Australia to deliver trade and financial capabilities for Australia and New Zealand-headquartered businesses and multinational companies.“As a global company that connects businesses in more than 190 countries, setting up a presence in Australia was the next logical step in our international strategy, ” said Christian Lanng, CEO and co-founder of Tradeshift. “Our marketplace includes thousands of suppliers based in Australia and New Zealand. Both countries are growing economically and are key to how we will support the global supply chain going forward.”Australia, which hasn’t had a recession in 25 years, is seeing public investment and growth across many industries, including construction. On top of this strong economic foundation, progressive regulations, such as the new national standard for e-invoicing based on the ISO-approved OASIS Universal Business Language (UBL), can help companies and entire industries join Europe and other regions on the path to digital transformation across the supply chain. “Tradeshift’s vision for connecting businesses digitally across the globe will help many Australian and New Zealand businesses to expand and strengthen their supply chains,” said Nigel Wardropper, CEO of Procurement and Supply Australasia (PASA). "We may be isolated geographically, but we’re hyperconnected to world markets, and just like everyone else we're seeing our entire industries transformed by digitalization." Since Tradeshift’s founding in 2010, it has proven superior in its ability to integrate tax and trade compliance requirements of the localized economies it has entered, including those in Latin America and Asia.Building on the successful expansion into Japan and China, Tradeshift is setting up operations in Australia to stay ahead of the demand for its solutions and continued global-scale adoption of its platform. Adoption is accelerating, in part, due to the network effects that result from wave after wave of tens of thousands of invited suppliers connecting to buyers across geographies. Once on the platform and carrying out transactions, businesses harness the simplicity of open, networked software and quickly find and connect with other trading partners. This original approach creates a common foundation for business processes like e-invoicing, eProcurement, and supply chain financing. Other corners of Asia-Pacific are also on the company’s horizon. Speaking recently at the India Economic Summit of the World Economic Forum in New Delhi, Christian Lanng said that Tradeshift will be investing more in the region to help more buyers and suppliers digitize their supply chain information.
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