The leader in supply chain payments and marketplaces has announced its fourth quarter results for 2018, with its end-to-end payments solution and expanded customer portfolio representing key highlights for the company.
Tradeshift, drivers of supply chain innovation for the digitally connected economy, announced its results for 2018 and marked the 11th consecutive quarter of successive growth and achieving key strategic targets.
The company recorded a 178% growth in revenue, significant growth in its partner ecosystem and signed new application partner Transfrermate to allow Tradeshift customers easier foreign payment control.
In early 2018, the company raised US$250mn in funding, taking its valuation to $1.1bn.
“2018 was a record setting operational year for us,” said Christian Lanng, CEO and co-founder of Tradeshift. “It’s been so gratifying to see huge Fortune 500 global companies recognise the transformation they can drive in their businesses by using the Tradeshift platform. The proof is in the numbers - the deals we sold this year were incredible. I don’t see us slowing down anytime soon.”
2018 saw Tradeshift partner with leading banking organisations such as HSBC and Santander to integrate them within Tradeshift’s end-to-end payments solution Tradeshift Pay. The app also saw significant development over the last 12 months, with the integration of AI and blockchain technology into its process.
Tradeshift also significantly expanded its partner portfolio and moved into wider markets with new partners including Hertz, and ECU as well as leading Fortune 500 companies across retail, agriculture, hospitality and travel and food delivery.
But it wasn’t just financial success and market share that defined 2018 for Tradeshift, the company also made great strides in mitigating the challenges of human trafficking in the supply chain. In partnering with FRDM (formerly Made in a Free World), Tradeshift launched the FRDM platform to provide “multi-tiered” visibility across the supply chain through data capture and analysis.