Tradeshift Has $2.7 Billion Valuation in Pre-IPO Fundraise

Bloomberg reports that Tradeshift a payment-technology company has raised $200 million in new financing that values the firm at around $2.7 billion.

Tradeshift, which already counts Goldman Sachs Group Inc., PSP Investments and HSBC Holdings Plc as investors, helps companies digitize payments to their suppliers and from their buyers. A 2018 fundraising valued the firm at $1.1 billion.

In January Tradeshift raised $240 million and is rumored to be expecting to IPO in the next year.

Co-founder Christian Lanng has said that their drive toward profitability would mean a cost-cutting exercise ahead of any possible IPO.

Lanng said this would likely mean reducing headcount in its expensive San Francisco offices, but reallocating resources and talent to locations where that is more affordable.

More details on the financing and updates on links to Greensill Capital available on Bloomberg.com