HSBC to invest USD 35 million in Tradeshift joint venture

Date:

Share post:

HSBC has invested USD 35 million in Tradeshift, a provider of supply chain finance, as part of an effort to launch a new joint venture company dedicated to the advancement of embedded financial services.

The agreement is a component of a funding round in which HSBC and other investors are anticipated to contribute at least USD 70 million. In order to free up the flow of working capital throughout supply chains, the new joint venture will enable HSBC and Tradeshift to deploy a variety of payment and fintech services embedded into trade and e-commerce marketplaces.

On its platform, Tradeshift supports over USD 260 billion in gross merchandise value annually for a million business users.

Read More: HSBC to invest $35 million in Tradeshift joint venture

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Hyve Launches Multiplayer Money Platform – Earn and Save Faster with Others

Hyve announces its mobile app is now available on iOS and Android. Hyve aims to pave a simplified...

JustPaid Offers State-Of-The-Art Revenue Management Functionality

JustPaid announces the launch of its fully automated revenue management functionality within the platform. The new feature in the...

Fraud Detection Best Practices in Fintech

Fraud poses a significant threat to financial technology companies. To stay safe, firms need to be vigilant. Firms...

SMArtX Advisory Solutions Enhances New SMArtY Platform with Two More Asset Management Firms

SMArtX Advisory Solutions, a leading innovator in managed accounts technology, today announced Fidelity Investments and Invesco will make...